Denmark State Bank in Wisconsin has agreed to outsource work to Fiserv Inc.
The Brookfield technology provider said Monday that the $370 million-asset unit of Denmark Bancshares Inc. will outsource its account processing to a Brookfield data center operated by Fiserv’s Information Technology Inc.
In addition, Denmark State will use ITI’s Internet banking and bill pay packages, and document imaging processes. Denmark State currently uses software from Metavante Corp.
Senate Banking Committee Chairman Tim Scott, R-S.C., flatly denied multiple pleas from Democrats to consider their amendment to a crypto market structure bill being marked up in the committee Thursday that would make banking industry-favored changes to the yield provision. The committee passed the measure in a 15-9 vote.
The two banks are among the large firms that are pouring $4 billion into DeployCo, a large-scale enterprise artificial intelligence venture born out of OpenAI's acquisition of AI consultant Tomoro. Payment technology experts say the deal gives the banks improved access to development expertise as new forms of AI penetrate all aspects of banking.
House lawmakers scrapped a ban on big-money investors from purchasing single-family homes, opting for a path that clears the bill's legislative hurdles.
A report from the Federal Deposit Insurance Corp. found that business clients with large volumes of uninsured deposits fled Silicon Valley Bank, Signature Bank and First Republic at unprecedented speed, contributing to those banks' collapses.
First Interstate Bank and Boulder Dam Credit Union have begun piloting the new agents, which were built using AWS' Bedrock.
The 22nd State Bank in Mobile has been developing its national Always.bank subsidiary over the past year. 22nd State, which was founded in 1917, is eyeing a summertime launch for the online unit.
