GLASTONBURY, Ct. - (08/05/05) -- Open Solutions Inc. said it hasintroduced an expanded version of its core processing solutionswhich features customer input and globalization enhancements. Amongthe enhancements to The Complete Credit Union Solution and theComplete Banking Solution are consolidation of general ledgeractivity; credit bureau processing enhancements; daily loan accountmaintenance reports; and display of current and available balanceon transaction screens. The enhancement versions, known as 2005.1,also provide file loader enhancements; database field encryptionand decryption of tax ID numbers; and ATM/debit card line of creditaccess and transfers. It also includes international features, likesupport for multiple foreign currencies; formatting to supportinternational dates and codes; and options to maintain foreigncountry codes.
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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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