ATLANTA - (11/16/04) -- S1 Corp., said it has agreed tacquire Britain-based Mosaic Software Holdings Ltd, a provider ofATM technology for 210 financial institutions, including more thantwo dozen credit unions. S1 said it will pay $37 million up-frontfor Mosaic and as much as $15 million in earn-out payments based oncertain financial targets for the company's fiscal year, ending May31, 2005. S1 provides financial services for more than 4,000financial institutions.
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
Jack Dorsey's payments company also laid off employees early in 2025 and 2024 following a self-imposed employee cap of 12,000 in November 2023.
To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hard-line stance on modifications.
