OKLAHOMA CITY - (08/31/05) -- Endpoint Exchange said it hasbrought 81 Minnesota credit unions, owner/members of the MinnesotaItem Processing Corp. CUSO, online with its fledgling nationalelectronic check exchange. The Minnesota Item Processing Corp.processed more than 50 million items for its 100 credit unionmembers last year. Endpoint Exchange which is owned by Marshall& Ilsley Corp.'s Metavante, is one of three private-sectornetworks vying to become the major national outlet for electroniccheck and item processing. The others are Fiserv's network and TheClearing House Payments Co., which is owned by several largebanks.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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