Banking

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Australia deregulates fintech; Mobile bank goes real-time in the U.K.; German companies collaborate on ID; Correspondent banks face regulatory expense.

Frank Sanchez, a former FIS executive, is launching a new cloud-based core banking system aimed at large community banks looking to ditch mainframes.

MIT professor Maria Loumioti has studied loans made strictly using hard data and loans where a loan officer clearly was influenced by personal connections or feelings about a borrower. The results shed light on the value and limitations of "soft" information.

Banks are often pressured to compete with third party mobile wallets to protect their brands. But it's unclear if that strategy is helpful in attracting consumers.

Banks are increasingly tightening lending standards for commercial real estate loans and are likewise seeing a drop-off in demand, according to a report released Monday by the Federal Reserve Board.

Once focused mainly on growth, the New York-based small-business lender said it will lay off employees and cut other expenses in an effort to become profitable. The moves are a sign of waning patience among investors in the once-frothy sector.

The post-election rally in banking stocks has given certain buyers the ability to make acquisitions that would add to tangible book value, perhaps making it easier for them to pursue more deals.

On Dec. 31, 2016. Dollars in thousands.

With donations if time, money and supplies, credit unions are making a difference for organizations that make a difference in the lives of those they serve.

On Dec. 31, 2016. Dollars in thousands.

The $1.2 billion-asset credit union was recently approved for conversion to a federal trade, industry and professional charter, making it the first firefighters’ credit union in the nation chartered specifically for business lending.

On Dec. 31, 2016. Dollars in thousands.

The Bokis wallet's new app is scheduled for broad release this summer. It's a rare success for collaborative wallets, as others have failed, such as the U.S.'s Softcard and CurrentC, the U.K.’s Weve, Canada’s suretap and Singapore’s SmartWallet.

As China's only gambling center, the island has become a crime risk, pressuring greater security for card transactions.

Wells is expected to announce $3 billion more in additional spending reductions; B of A pays half the interest of other banks, but still rakes in deposits.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Walmart's 'Dash' tech; A major hack in Germany; Fintechs opposed Euro screen scraping ban; Singapore payments technology investor eyes Europe.

Startups believe artificial intelligence will make loan officers obsolete, and that may be true. But it remains to be seen if AI will make lending safer.

Guaranty Bank & Trust in Milwaukee was shut down by federal regulators Friday, just a week after one of the costliest failures since the crisis.

Gov. Mary Fallin, a Republican, sided with consumer advocates over payday lenders in a fight that is playing out in numerous states.

Five Star Bancorp in California is the latest bank to work with a marketplace lender on referrals. The move comes as the SBA programs have record volumes while concerns linger about banks working with third parties.