Franco-German card vendor Sagem Orga GmbH has won what it calls a follow-up order to supply Germany's Postbank with debit cards that carry contact chips. Each customer who receives a card also will get what Sagem calls a "fully personalized enclosure." In essence, the enclosure serves as a marketing tool, a Sagem spokesperson tells CardLine Global. "The enclosure can contain any kind of completely personalized printed papers with customized extra information," says Sagem spokesperson Mareike Blumentrath. "The Postbank will announce in September what exactly their content will be." Sagem declines to release how many cards the new deal involves or how many cards Sagem has delivered to Postbank since the card vendor became a supplier for the bank in 2000. The new Postbank deal represents Sagem's first involvement with the enclosures, Blumentrath says.
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The regional bank faced months of pressure to end its relationship with CoreCivic and The Geo Group, two of the country's largest private prison operators. On Friday, it said it would "exit the credit facilities" it has in place for those companies, attributing the decision to business factors, not pressure from activists.
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Banks use artificial intelligence to do many different jobs. At Fifth Third, the technology is supervising the biggest post-merger integration in the bank's history.
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Amid warnings that a future slowdown in AI capital spending could pose a systemic threat, executives at Regions Financial said they're preparing the same way they would for any other credit concentration.
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ADHD can cause a slew of financial woes for clients, leaving them feeling overwhelmed, frustrated or emotional. Here is how advisors can help them build their confidence and stay on track.
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In its annual survey of industry consolidators, DeVoe and Co. detects signs that the upward march of RIA deal valuations may soon come to a halt.
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Three former senior enforcement officials at the Consumer Financial Protection Bureau have launched Halperin Petersen & Mikkilineni LLP, a new public interest law firm; Ally Financial taps Mark Mathewson as chief information and data officer; Provident Bank names Anthony Petrazzuoli SVP, deposits & payments operations director; and more in this week's banking news roundup.
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