DALLAS - (08/03/04) -- Advancial FCU said it has cutsupport costs in half at two branches and improved member servicewith the implementation of Spanlink IP Communication's TDM-basedcommunications and support center solution. Implementation of thesystem helped the $600 million credit union merge communicationsnetworks, enhance member service, and improve management efficiencythrough enhance reporting. Spanlink designed a virtual IPcommunications system to support Advancial's lending and memberservices contact center, and two branches.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting a early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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The Independent Community Bankers of America argue in a new lawsuit that the Office of the Comptroller of the Currency is exceeding its statutory authority in granting trust charters to crypto companies.
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Apollo's chief economist may be premature on the idea that AI agents will drive people into higher-rate savings products. But he's not that premature.
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