SOUTH BEND, Ind. - (01/20/05) -- Teachers CU said it will be amongthe first credit unions to test pilot a new business credit cardbeing introduced by a consortium of credit union vendors. ThePurchase ONE Visa card be used by credit unions to make businesspurchases from any merchants or vendors that accept Visa but itsmain feature is it can be programmed as part of the credit union'scost control process. The card uses an Internet-based solution tohelp control credit union procurement, including automaticallyapplying signature controls and spending limits, including maximumtransaction and discretionary limits to all purchase requestsbefore the transactions can occur. There is also an online recordof every purchase. The card was developed by CUSO called ProcuraLLC that is owned by WesCorp FCU, PSCU Financial Services, CUNAMutual Group and CU Financial Services LP.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
March 28 -
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.
March 28 -
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.
March 28 -
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.
March 28 -
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.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28