Today's Banking Pulse
Mortgage refinance demand plunges 18% as rates climb to 6.65%
Refinance applications fell 18% week‑over‑week, dropping to 38% of total mortgage filings—the lowest share since June 2025. The average 30‑year fixed rate rose to 6.65%, while purchase‑loan volume edged down 0.4% and the average loan size hit $473,600.
Also developing:
By the numbers: OakNorth acquires Monite to boost business banking
Absa Ramps up IT Spend to R16.7bn
South African bank Absa increased its IT spend by 6% to R16.7 billion, targeting new digital infrastructure, cyber security, data and cloud capabilities. The bank posted a 12% rise in headline earnings and a 5% increase in revenue, while digitally active customers grew to 5.4 million and the total base reached 13.1 million. Growth was driven by strong performance in Africa regions, robust non‑interest income, and cost‑optimisation savings of R3.1 billion. Management highlighted strategic priorities and operational efficiency as pillars for future growth.
Are We Ready for a World without Cash?
The article examines India’s shift toward a cash‑light economy driven by UPI’s explosive growth. In December 2025 UPI recorded 21.6 billion transactions worth Rs 28 lakh crore, and in FY25 it accounted for over 83% of payment volume, pushing digital retail payments to...
Open Banking Presents £43bn Opportunity for UK Economy if Warnings Are Heeded
Open banking is projected to generate £43 bn a year for the UK economy when fully mature. Research commissioned by Open Banking Limited and conducted by EY shows the sector has already delivered £8.2 bn in benefits, with an expected £7.4 bn annual...
CIT Bank Platinum Savings APY Boost: Earn 4.10% For 6 Months
CIT Bank is running a limited‑time promotion that gives new Platinum Savings customers a 4.10% APY on balances of $5,000 or more for the first six months when they use the promo code “CITBoost.” The account requires only a $100...
Mastercard Brings Agentic Payments to Life in Singapore with DBS and UOB
Mastercard completed its first live, authenticated agentic payment in Singapore, partnering with DBS and UOB. An AI‑driven agent used Mastercard Agent Pay to book a hoppa ride to Changi Airport, leveraging tokenised credentials and Payment Passkey consent. The transaction moves...
Mobile Banking Malware Surge and Supply Chain Vulnerabilities Examined in New Report
Cybersecurity firm Kaspersky reported a 56 percent jump in Android banking trojan detections in 2025, accompanied by a 271 percent surge in unique malicious APKs, now exceeding 255,000. The report also found that supply‑chain attacks affected 31 percent of surveyed organizations, rising to...
How to Invest: What Are the Risks of Leaving Your Money on Deposit?
Irish household wealth has hit a record €724,000 per family, yet 38 percent of assets sit in low‑yield deposits. The Central Bank reports Ireland has one of the lowest investment participation rates in Europe, with only about 2.3 percent in equities and...
Phone Tap Fees Outpace Flat‑rate Card Charges
Well I just learned that if you phone tap for payments it’s 1.3% surcharge but using your physical card is a flat rate of $0.30. Back to regular cards we go. Hate this stupid surcharge shit. Is it like that...
Stablecoins Embedding Across Finance, Industry Can’t Ignore Them
The money is the message and it’s one the industry can no longer ignore. Stablecoins are quietly embedding themselves across merchants, PSPs, acquirers, and fintechs, I shared how for January's edition of MPE Magazine: https://t.co/FOKaPjk2h6 @mpecosystem https://t.co/YMkiMaU790
Bangkok Bank Ditches Planned Minimum Balance for Digital Accounts
Bangkok Bank announced it will indefinitely postpone the April 9 rollout of a 2,000 baht minimum‑balance requirement for its e‑Savings and Extra Digital accounts. The rule was intended to block scammers from using low‑balance accounts as money‑laundering mules. Senior executive Chaiyarit Anuchitworawong...
Friends Are Now Joining Bank Accounts. There Are Risks, but Stephanie Has Found Reward
Australian influencers are popularising shared bank accounts between friends, a practice once limited to couples or family. Stephanie Leahy and housemate Phillip Gow have been using Up Bank’s “2Up” joint account since 2021 to pool income, track expenses and allocate...
U.S. Reaches Tentative Deal Ending Prosecution of Turkish Bank
The Trump administration has reached a tentative agreement to dismiss criminal charges against Turkey’s state‑run Halkbank, which prosecutors accused of moving roughly $20 billion in sanctioned Iranian funds. The deal links the dismissal to Turkey’s instrumental role in negotiating the release...
China’s Financial Superpower Ambitions Get Legal Backing at ‘Two Sessions’
China announced at the 2026 Two Sessions that it will draft a comprehensive financial law and a dedicated financial stability law within the year. The measures aim to cement the yuan’s global role, expand green‑finance frameworks, and formalise risk‑control mechanisms....
Select Gift Cards (Incl Apple) on Sale at Citi Thank You Rewards (3/9 Only)
Citi ThankYou Rewards is running a one‑day sale on select gift cards, offering 10‑15% fewer points than usual. The most notable discount is a 15% reduction on Apple gift cards, with a $25 card available for 2,125 points. Even with...
North American Savings Bank (NASB) Mortgage Review 2026: Rates, Loan Options and Customer Feedback
North American Savings Bank’s 2026 mortgage review highlights a lender that blends digital pre‑approval with live phone support, but its pricing lags behind many peers. The bank’s portfolio is dominated by non‑qualified‑mortgage (Non‑QM) products, pushing average conventional rates to 7.49%...
Why ARMs Are Rising Even as Rates Drift Lower
Adjustable‑rate mortgage (ARM) originations climbed in 2025 despite falling 30‑year fixed rates, reaching a 20.5% share of conventional volume, the highest in three years. The 5/1 ARM remained about 80 basis points cheaper than the fixed‑rate benchmark, saving borrowers roughly...
Visa Enhances Payments Orchestration Tools for Merchant Acquirers
Visa has launched its Intelligent Authorization platform for merchant acquirers across the Asia‑Pacific region. The solution offers a single‑API pathway that leverages Visa’s card‑network infrastructure, allowing banks to forego building dedicated processing stacks. Integrated AI routing selects the most cost‑effective,...
OSFI’s Fast Track Framework Is a Wake-Up Call for Canadian Banks
The Office of the Superintendent of Financial Institutions (OSFI) has unveiled a Fast‑Track framework designed to streamline approvals for new banking and bank‑like activities in Canada. The new rules clarify capital, liquidity and supervisory expectations for deposit‑taking, credit‑card issuance, mortgages...
Modern Payments Infrastructure Is the New Battleground for Growth
Payments infrastructure has moved from a back‑office function to a strategic growth lever, as platforms relying on legacy systems face higher friction, cost, and slower revenue realization. TSG and Payforge’s new whitepaper argues that modernizing payment stacks is essential to...
What Are Microloans & How To Get One
Microloans have become a key financing option for U.S. small businesses that cannot secure traditional bank loans. The SBA’s microloan program, administered through community development financial institutions, offers loans up to $50,000, with an average size of $13,000, and pairs...
Loandepot Adds Wholesale Production 3 Years After Exit
Loandepot announced its return to the wholesale mortgage origination channel, a move it had abandoned in August 2022 after a $224 million Q2 loss. CEO Anthony Hsieh, now acting CEO, says the comeback leverages the joint‑venture shared‑services platform to drive profitable...
Syndicator Lender Ready Capital Takes Massive Hit
Ready Capital posted a $232 million loss for the fourth quarter, an improvement from a $314 million loss a quarter earlier, as it restructures a $1.5 billion commercial‑real‑estate loan portfolio. Non‑accrual loans surged to 25% of the book, roughly $1.3 billion, driven by a...
EU’s Regulated Blockchain Securities Market Adds First Bank Participant
Amina, a Swiss‑regulated crypto bank, became the first fully regulated bank to join 21X, the EU’s pilot blockchain‑based securities trading and settlement venue. The partnership with Tokeny enables Amina to sponsor listings of tokenized securities on the platform, tackling interoperability...
Small‑Cap Banks Undervalued, Big Banks Overpriced, Deep Value Wins
Long/short financials investor Derek Pilecki of @gatorcapital on: * Why Small Cap Banks Are So Cheap Right Now * Why the U.S. Has Thousands of Banks * His Deep Value Strategy in Financial Stocks * Why Big Banks Are Expensive and Small Banks Are...
Premium Cards Battle Escalates as Credit Balances Rise
Consumer credit expanded at a 1.9% annualized rate in January, with revolving balances rising 4.3% despite a modest slowdown. Premium‑fee cards, many charging over $600 annually, are witnessing heightened competition as fintechs like Robinhood and Revolut join incumbents. Research shows...
Spain Targets 2028 Digital Euro to Cut US Dependence
USD stablecoins guarantee a digital euro; now we have even more proof of this from Spain: “Europe needs a sovereign payment architecture,” and “the noticeable increase in US stablecoin-based financial intermediation increases the urgency.” Spain Pushes for 2028 Launch of...
BPI's Long-Term Appeal Threatened by Rate Cuts
BPI feels like a long term winner. Then again, the Bangko Sentral is lowering rates and NIM compression should follow
Elite Option Experts / eliteoptionexperts.com – Financial Conduct Authority | FCA
The UK Financial Conduct Authority (FCA) has issued a public warning about Elite Option Experts, operating at eliteoptionexperts.com, for offering unauthorised investment services. The regulator flagged the site as non‑compliant, highlighting that it is not authorised to provide financial advice...
Mortgage Intent Index Peaks Highest in Over Two Years
A great dataset I recently got access to: Xactus Mortgage Intent Index. Xactus processes credit pulls in the mortgage application process. The index is based on actual apps. It is highly correlated with the Altos weekly pendings data. Now at highest...
Virtual Addresses Eliminate Sweep Transactions—Join Tempo’s Design Partner Program
Virtual addresses solve having to do sweep transactions We're building @tempo around design partners feedback Come shape the future with us.
Bison Bank Integrates Elliptic’s AI Analytics to Supercharge Digital Asset Compliance
Lisbon‑based Bison Bank has partnered with blockchain analytics leader Elliptic to embed the firm’s AI‑powered “copilot” into its digital‑asset subsidiary, Bison Digital Assets. The integration enables real‑time monitoring of more than 1,000 crypto tokens and automates data collection, fund‑flow analysis,...
HeyBilt Blocks Unlinking External Bank Accounts, Raises UDAAP Concerns
Apparently once you link an external bank account to @HeyBilt you **cannot** unlink it. That feels pretty UDAAP-y. https://t.co/nKf1Jn1So7
Let Digital Handle Routine; Branches Build Relationships
Digital handles routine needs. Branches should focus on complex conversations, community engagement, and relationship building. https://t.co/nOTg9IGJlt
Lower Mortgage Rates Boost Refinancing While Purchase Activity Slows
Mortgage applications rose 1.5% month‑over‑month as the 30‑year fixed rate slipped to a three‑year low of 6.14%, driven by a decline in the 10‑year Treasury yield. Refinancing activity surged 11.3%, while purchase applications fell 12.3% amid tight inventory and winter...
Atmos Rewards Card: Strong Bonus and Ongoing Perks
The Atmos Rewards business credit card is compelling, with a great welcome bonus, plus perks that make it worth holding onto. Here's a detailed review. https://t.co/FUF1q0eEq0
Fintech Overkill: Fraud Controls Lock Users Out
Wow three fintech/banking FUs in 7 days. Overactive fraud controls at @billcom @Chase and now @AmericanExpress. Apparently I need to upload a photo of my nanny’s SSN card to add her to my credit card. Is this 2026?
Coinbase CEO Highlights UK Regulatory Risks as US Stablecoin Framework Advances and Global Adoption Surges
Coinbase CEO Brian Armstrong warned that proposed UK stablecoin caps could erode the country’s fintech edge, while the United States has moved ahead with the GENIUS Act, establishing the first federal framework for payment stablecoins. The legislation mandates 100% reserve...
Worrying About Credit Card Fraud Isn't Rational
While no one wants to deal with credit card fraud, is it rational to worry about it, especially selectively? Here's why I think the answer is "no." https://t.co/YrRjx9Mdvr
Kraken Bypasses TradFi, Builds Bank for Fed Access
Kraken got fed up of waiting on TradFi so it built its own bank to access the Fed — and it just worked https://t.co/KXiaMBmASC https://t.co/TwTkLEnUYo
Despite Fintech Encroachment, Banks Can Remain the Go-To for SMBs
In this episode, host Rima Katz talks with Eleanor Bontrager of Byserve and Don Apgar of Javelin Strategy about the fragmented fintech tools small businesses currently use for payments, receivables, and cash‑flow management. They explain how SMBs juggle multiple apps,...
Bilt Card Subjects Rent Payments to CARD Act Rules
Either rent/mortgage payments are via Bilt card (CARD Act, TILA apply) or they are not. I suspect some users' confusion is due to Bilt's communication of how housing payments work in "Bilt 2.0" https://t.co/vORPcpuwYe
78% of Firms Anticipate Tokenized Collateral by Year‑end
Nasdaq: 52% of Institutions Expect Live Tokenized Collateral by Year-End Shift from "if" to "when": 78% of North American firms expect tokenized collateral to significantly impact their business. Catalyst = recent SEC + CFTC no-action positions allowing digital assets as margin...
ICBA Adds Jack Henry to Preferred Program and Other Digital Transactions News Briefs From 3/9/26
Jack Henry & Associates’ anti‑fraud solution, Financial Crimes Defender, has been added to the Independent Community Bankers of America’s Preferred Service Provider program. Affiniti Finance secured a financing agreement with Column N.A. to accelerate its corporate‑card and banking services for...
Banks Must Align Branches with Digital‑First Strategy
To thrive in the digital age, banks must rethink branch strategy. It’s not about supporting the branch. It’s about aligning branches with digital-first planning. Learn how: https://t.co/7yibAIVrHK https://t.co/47DCJWpqnf
EQB Nears Takeover of PC Financial Arm After Competition Bureau Approval
EQB Inc. received Competition Bureau clearance to acquire President’s Choice Bank and related PC Financial assets from Loblaw, moving the deal closer to completion. The transaction still requires sign‑off from the Office of the Superintendent of Financial Institutions and the...
Pakistan Passes Virtual Assets Act, Creates Regulator for Digital Asset Sector
Pakistan's parliament approved the Virtual Assets Act 2026, creating the Pakistan Virtual Assets Regulatory Authority (PVARA) to license and supervise cryptocurrency service providers. The authority, initially formed by a 2025 presidential ordinance, now has permanent legal standing. PVARA will enforce...
Digital Ambition Needs Execution, Not Just Hype
Credit unions have digital ambition heading into 2026. But ambition alone won’t drive results. In this episode, Jesus Garcia of @OceanAir_CU explores the execution gap, branch expansion paradox, and where AI is real versus hype. Watch the full conversation sponsored by...
Effortless Onemain Financial Payment Options: Manage Your Loan Online
OneMain Financial now offers a suite of digital tools that let borrowers pay, track, and manage their personal loans entirely online. Customers can choose from several disbursement methods, including a SpeedFunds® debit card that delivers funds within an hour, ACH...
CRC Launches Upgraded Mobile App to Expand Access to Credit Data
CRC Credit Bureau launched an upgraded mobile app that streamlines access to credit data, financial services, and digital transactions for Nigerians. The new version adds biometric authentication, a built‑in wallet, and direct enrollment in CRC’s financial education programmes. The bureau...
Filippo Chiricozzi on Web3, Digital ID and the Future of Finance
Filippo Chiricozzi, DLT & Digital Identity Lead at Banca Sella, is steering the bank’s push into Web3, cryptocurrencies, and the metaverse while focusing on digital identity solutions. The bank is aligning with European initiatives such as the Digital Identity Wallet...