WASHINGTON - (02/10/05) -- Almost 53 million U.S. adults nowbank online, an increase of 47% during the past two years,according to a new survey released Wednesday by the Pew Internet& American Life. In fact, online banking is the fastest-growingInternet activity, Pew said. Pew said its survey found that the useof online banking "grew like gangbusters" from 2000 to 2003, andthen again from 2002-2004. According to Pew, the biggest reason forthe increase in usage is a similar increase in home broadbandconnections to the Internet. Pew found that consumers withbroadband access are about twice as likely to have tried onlinebanking as those still using dial-up connections.
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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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