SAN FRANCISCO - (12/05/05) -- Pay By Touch, which providesfingerprint payment solutions, said Friday it has completed theacquisition of CardSystems Solutions, the controversialAtlanta-based cards processor which reported millions of itsconsumer accounts had been hacked earlier this year. Pay By Touch,which is installing its prototype fingerprint payment system insupermarkets across the country, said it made the deal because ofthe 120,000 merchant accounts held by CardSystems. Separately, PayBy Touch said it has also acquired Capture Resource Inc., asupplier of integrated reward programs. The deal will allow Pay ByTouch to offer customers interactive gift and reward programs,customized reporting, design, production and Web access services.The deal gives Pay By Touch access to 120 million consumer loyaltyenrollment profiles, including more than 12,000 supermarkets andretail institutions.
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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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