OKLAHOMA CITY - (10/29/04) -- The Endpoint Exchange Networknational check exchange said it began live operations with a testrun Thursday in conjunction with the enactment of the Check 21 law.Under the test, check images captured by INTRUST Bank, one of therouting banks on the network, are routed to Endpoint Exchange, thenchecks payable to non-network participants are forwarded to Fiserv,which routes them into a national image distribution network. Thetransactions are settled by the National Clearing HouseAssociation. Endpoint Exchange is owned by Metavante, a whollyowned subsidiary of bank holding company Marshall & IlsleyCorp., and has signed 4,000 credit unions and banks to its newcheck network.
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The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
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The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.
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Bank of New York Mellon recorded another quarter of higher-than-expected revenue and earnings. Revenue for the third quarter rose 9% year over year, while earnings per share beat Wall Street's forecast by 12 cents.
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During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.
October 15 -
PNC CEO Bill Demchak said Wednesday that regulatory processes and enforcement actions take up half of the time that the company's board spends together. Those rules are on deck for a makeover.
October 15 -
Amid a surge in bank mergers, Citizens CEO Bruce Van Saun said the Providence, Rhode Island-based bank is largely focused on organic growth. "It would have to be a pretty high bar for us to go down that path," he said.
October 15