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
Revolut Business Introduces Titan in the UK, Offering 10GB Global Data, Other Incentives
Revolut Business has launched Titan, a premium Visa‑linked corporate card for UK companies, bundling 10 GB of global mobile data, unlimited airport lounge access, and a 1:1 RevPoints rewards scheme. The card integrates real‑time expense tracking, receipt matching, and instant reconciliation within the Revolut Business app. It also includes premium subscriptions to services like The Economist, WeWork, and Perplexity AI. Titan arrives as Revolut reports over $1 billion in annualised revenue and aims to capture firms increasing travel spend in 2026.
Nigeria’s Loan Apps Are Pulling Back From the Small Loans that Built Them
Nigeria’s digital lending boom built on instant nano‑loans of ₦5‑10,000 is receding. Regulatory crackdowns on intrusive phone‑data and new FCCPC fines have stripped lenders of cheap risk tools, while credit‑bureau fees and high recovery costs make tiny loans unprofitable. Lenders...
Restricting Bank Foreclosure Threatens New‑Build Lending
I understand the principle of precluding large firms from buying existing homes. They do “compete” with young families and raise prices. But the ROAD to Housing needs to be **clearly** re-written. Preventing "investors" from owning homes they built not only affects...
Crypto's Long-Term Outlook Better Than Ever, Says Hadick
War in the Middle East. Rate confusion. A stablecoin bill stuck between banks and crypto. And yet: Rob Hadick says the long-term setup for crypto is "as good as it's ever been." Institutional flows, tokenization momentum, DeFi finally showing product-market...
Reframing Corporate KYC: Encompass Targets Back-Book Exposure with Scalable EC Review
Encompass has introduced EC Review, a scalable service that automates the remediation of legacy corporate KYC records for banks. Using the firm’s EC360 data engine, the solution processes thousands of client profiles in batch, delivering refreshed ownership and control data...
Elon Musk Announces BAAS Beta Test for X Money
Elon Musk confirms the BAAS setup for X money as beta testing has shyly started https://t.co/2l00gddeOG
Self-Custody Startup Bron Adds Inheritance Flow Built Around Guardians and MPC
Bron, a self‑custody wallet provider, introduced a Digital Inheritance feature that lets heirs access a deceased owner’s crypto after a mandatory six‑month delay. The system relies on pre‑selected Guardians who verify recipients and uses multi‑party computation (MPC) to reconstruct lost...
Revolut Seeks U.S. Banking Charter After Securing UK License
Revolut, which struggled but eventually obtained its U.K. bank charter, has applied for one in the U.S., the company announced this morning: https://t.co/rNHcC6IgWC
Five Unexpected Companies That Could Acquire PayPal
Who Should Acquire PayPal? 5 Potential Acquirers Nobody’s Talking About PayPal is now considered to be a prime acquisition target. Who besides Stripe would be a good acquirer? Here are 5 potential candidates. Try to keep an open mind. https://t.co/rrD4BdDrG8
How a Personal Loan Affects DTI and Mortgage Approval
A personal loan introduces a new monthly payment that typically raises a borrower’s debt‑to‑income (DTI) ratio, which can shrink the mortgage amount a lender will approve. In cases where the loan replaces higher‑cost revolving debt, it can actually lower DTI...
Beyond Features: Redefine Value in an AI-Driven Market
Your products are no longer differentiators. Digital is expected. Rates are aligned. AI compares features instantly. Competing on what you offer is a losing game. We discuss a different path with Allison Netzer, founder and CEO of BrandThnk. Watch the...
SEC Sends Crypto Securities Framework to the White House
The U.S. Securities and Exchange Commission delivered an interpretive framework to the White House on March 3, outlining how certain crypto assets may be treated as securities. Unlike prior staff memos, this commission‑level guidance carries stronger legal weight without requiring a...
Affirm’s Full-Stack Ambition Is Bigger than Consumer Finance Alone
Affirm kicked off 2026 with a flurry of strategic announcements, including a rent‑payment partnership with Esusu, a bank‑charter filing, and a debit‑card‑embedded BNPL solution via Fiserv. The firm also secured default checkout status with Bolt and integrated its BNPL service...
Uganda Development Bank Appoints Peter Mukuru to Lead Digital Transformation Agenda
Uganda Development Bank (UDB) has named Peter Mukuru as Director of Business Technology and Executive Committee member, tasking him with leading the bank’s enterprise‑wide digital transformation. Mukuru arrives with over two decades of experience across development finance, government agencies and...
CMC Markets Begins 24/7 Blockchain Settlements with J.P. Morgan’s Kinexys
CMC Markets has launched a 24/7 blockchain settlement platform in partnership with Kinexys Digital Payments, a JPMorgan unit. The solution uses JPMorgan’s JPMCoin on the public Base blockchain to move cash instantly across currencies and regions. Live testing confirmed near‑real‑time...
Revolut Files for US Banking Licence
Revolut has formally applied to the Office of the Comptroller of the Currency and the FDIC for a U.S. national bank charter, abandoning an earlier plan to acquire an existing lender. The fintech appointed Cetin Duransoy, a veteran of Capital One and...
OCC's GENIUS Implementation Draft Rule Keeps Yield on the Table
The OCC has issued a draft implementation rule for the GENIUS Act that establishes a rebuttable presumption that stablecoin issuers and their affiliates may not pay interest or yield on payment stablecoins. While the language appears to ban direct yield,...
Paperclip Enables Fully Autonomous, Zero‑Human Companies
We are nearing economic liftoff and financial singularity And banks are still trying to automate away document ingestion
FCA Smart Data Accelerator Commissions Oxford Saïd and Raidiam for Open Finance Infrastructure Research
The FCA’s Smart Data Accelerator has commissioned a joint research programme between Oxford Saïd Business School and secure data‑ecosystem provider Raidiam. The initiative will design and test infrastructure models for an open‑finance ecosystem in the UK, examining APIs, standardisation, emerging...
Why Credit Union Transformation Is Stalling and How to Fix It
In this episode of the Experience Factor, Jim Roos talks with Jesus Garcia, Chief Experience Officer of Oceanair Federal Credit Union, about why many credit unions are lagging in digital transformation despite ranking it as a top priority. Garcia explains...
DBS Hong Kong Teams with Know Your Customer on Digital KYC
DBS Bank Hong Kong has teamed with RegTech firm Know Your Customer to embed AI‑driven digital KYC into its SME onboarding workflow. The platform provides real‑time business verification and automatic UBO mapping across more than 140 jurisdictions, cutting manual compliance...
Structured Payments Data Strengthens AML Compliance
Financial institutions are accelerating payment‑system upgrades as instant‑payment demand surges, with ISO 20022 becoming the default messaging format on SWIFT after the November 2025 cut‑over. Structured payments data under ISO 20022 enriches transaction details, enabling real‑time AML monitoring and more...
Capitec’s New AI Tool Knows Your Problem Before You Explain It
Capitec has introduced Pulse, an AI‑powered contact‑centre tool that delivers real‑time context about a client’s issue before the call starts. By aggregating payment data, app diagnostics and risk signals, Pulse enables agents to resolve queries faster, cutting handling times by...
The EBA Sets Out Harmonised Reporting Standards to Enhance Oversight of Third‑country Branches
The European Banking Authority released its final report on draft Implementing Technical Standards for supervisory reporting of third‑country branches under CRD VI. The new framework standardises formats, definitions and reporting frequencies, introducing a core‑plus‑supplement approach that differentiates smaller and larger branches....
Home Advantage: Kenyan Banks Outperform Foreign-Owned Competitors
Kenyan‑owned banks posted strong H1 2025 earnings, with I&M up 36%, Equity 17% and NCBA 12.6%, while foreign‑owned Standard Chartered and Stanbic saw profits fall 21% and 9% respectively. Moody’s kept a stable outlook for Kenya’s big three banks despite...
Paschi Ushers in Exit of CEO Lovaglio After Mediobanca Deal
Banca Monte dei Paschi di Siena (BMPS) announced that CEO Luigi Lovaglio will not be considered for the top job, just months after he sealed a transformative deal with Mediobanca. The board presented three alternatives: Fabrizio Palermo of Acea, former...
China to Inject 300 Billion Yuan Into State Banks, Deepen Reform of State Financial Firms
China announced a 300 billion yuan capital injection into state‑owned banks via a special treasury bond, coupled with deeper reforms of state financial firms. The move targets major lenders such as ICBC and Agricultural Bank of China to shore up capital...
Corporates Pivot to Banks as Primary Funding Source Amid Bond Market Volatility
Corporate bond issuance in India fell more than 20% year‑on‑year in February 2026, marking the weakest three‑year level. Meanwhile, banks reclaimed dominance, with their share of total commercial‑sector funding rising to about 63% in FY26, up from 51% a year...
Caesars Rewards Spending Offers: 10% Chase Offer & $25 Citi Offer (Stack with Targeted Capital One Shopping Promo)
Caesars Rewards is running two targeted card‑linked offers: a Chase promotion that returns 10% of spend up to $500, and a Citi deal that credits $25 on purchases of $250 or more. Both offers apply only to Caesars properties in...
Robinhood's Exit Fee Demands 4× Referral Revenue
Interesting highlight in this article about the new Robinhood Advisor Network (custodial referral program via TradePMR that pays a 25%-of-fees rev-share for the referral): "For an RIA that ends participation in the program, they will also pay a one-time fee...
Bank of Russia Challenges European Commission over Frozen Assets
The Bank of Russia has filed a claim at the EU General Court challenging a December 2025 EU regulation that freezes its assets until the European Union’s demands related to Ukraine are satisfied. The bank argues the measure violates the...
Lenders Offer Pricing Promos in Anticipation of a Hot Market
Mortgage lenders are rolling out new pricing promotions as rates hover near 6% and react to recent geopolitical volatility. United Wholesale Mortgage introduced a 75‑basis‑point refinance boost and a $600 appraisal credit for purchases, extending the offer to Pro Elite...
Western Union Teams with Crossmint to Support USDPT Stablecoin on Solana
Western Union has teamed with crypto‑payments firm Crossmint to launch its USDPT stablecoin on the Solana blockchain. The collaboration embeds Crossmint’s wallet and payment APIs into Western Union’s infrastructure, allowing fintech platforms to move funds via the stablecoin and tap...
Idemia Public Security, Proof Partner on Single Portable Digital Credential
Idemia Public Security and Proof have announced a strategic partnership to launch a verifiable digital credential (VDC) that merges biometric verification with PKI‑based digital signatures. The solution delivers a single, portable credential that is user‑controlled, privacy‑preserving, and revocable, leveraging selective...
Will Trump Scramble Santander's Plan to Buy Webster?
Banco Santander’s $12.3 billion bid to acquire U.S. regional bank Webster Financial is now under pressure after President Donald Trump announced he would cut off trade with Spain. The political spat, sparked by Spain’s refusal to allow U.S. military use of...
The Pitfalls of the 95% Confidence Paradigm for Banking Data Quality
Bank executives often cite a 95% confidence level as the benchmark for data quality, yet studies show most banks operate at only 80‑90% confidence, which can erode to 50% as data moves through multiple systems. The shortfall has tangible costs:...
Trump Met Coinbase CEO Before Slamming Banks over Crypto Bill: Report
President Donald Trump met privately with Coinbase CEO Brian Armstrong after a delegation of Coinbase representatives visited the White House. Trump subsequently posted on Truth Social demanding that the U.S. "get Market Structure done, ASAP," and warned banks against undermining...
The Verification Imperative: How One Framework Is Reshaping Trust in Financial Code
Financial institutions are tightening code integrity after supply‑chain attacks. Mitsubishi UFJ VP Jamshir Qureshi introduced the Hybrid Chain of Trust (HCoT), a framework that cryptographically signs and continuously validates software and container artifacts within CI/CD pipelines. The model enables compliance‑ready...
California Trial Set in Rate-Rigging VRDO Case Against Banks
A California judge set a June 8 trial for a False Claims Act case accusing major Wall Street banks of conspiring to rig interest rates on variable‑rate demand bonds (VRDOs). The lawsuit, filed by municipal advisor Johan Rosenberg on behalf of...
TAPP Engine’s 9Squid Launches Private Markets Platform for Credit Unions and CFIs
TAPP Engine’s subsidiary 9Squid Private Markets has launched an AI‑driven platform that lets credit unions and community financial institutions (CFIs) securitize loan portfolios. The solution embeds modern asset‑liability and liquidity management tools, turning securitization into a repeatable balance‑sheet strategy rather...
Rate Moves Into Auto Lending via App
Retail mortgage lender Rate is adding auto loans to its mobile app through a partnership with Westlake Financial, enabling customers to apply for vehicle financing directly within the platform. The move builds on the Rate app’s 2023 launch, which already...
Agentic AI Turns Data Into Real‑World Life Insights
Traditional analytics looks at balances and transactions. Agentic AI looks at life. Economic shifts, rate changes, career moves, spending patterns, risk signals. That’s where true intelligence begins. https://t.co/bh34uYoOev
Brian Armstrong Met with Trump Before the President Slammed Banks over Crypto Bill
U.S. President Donald Trump met privately with Coinbase CEO Brian Armstrong shortly before Trump posted a criticism of banks on Truth Social, accusing them of undermining the GENIUS Act. In the post, Trump urged rapid passage of a market‑structure bill...
PayPal Tops AI Talent Rankings Despite Business Slump
HIGHLIGHT OF THE DAY: While Paypal`s business is suffering, it ranks No.1 in the latest PAYTECH EVIDENT AI Rankings of AI talent. Due to the breadth and depth of AI specialization within its diverse product portfolio. Evident AI Index | Payments...
![[YMMV] Barclays Wyndham: Pay 3 Bills Per Month For 3 Months & Earn 3,000 Bonus Points](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2020/06/wyndham-1.png)
[YMMV] Barclays Wyndham: Pay 3 Bills Per Month For 3 Months & Earn 3,000 Bonus Points
Barclays is rewarding Wyndham credit‑card holders with a 3,000‑point bonus when they make three bill payments in three consecutive months. Eligible payments cover internet, cable, phone, streaming services, utilities, gym memberships, and local transit. The promotion has no minimum spend,...
Regulators, Banks, and AI Reshape Crypto Landscape
Crypto things you might have missed: -Trump urges passage of the Clarity Act -TD Cowen says banks likely to lose stablecoin yield fight -ECB warns stablecoins may shrink bank deposits -Ripple expands stablecoin infrastructure -Binance launches its first batch of AI Agent Skills
Rogers Bank Introduces the Rogers Red World Legend™ Mastercard, Canada's First World Legend Card
Rogers Bank has introduced the Rogers Red World Legend™ Mastercard, Canada’s first World Legend‑branded credit card, priced at a $495 annual fee and featuring a metal design. The card offers 2% cash back globally for Rogers‑affiliated customers (1.5% for others),...
Banking Technology Magazine March 2026 Issue Out Now
Bank Aston is launching in the Channel Islands with Oracle as its core banking provider, targeting offshore trustees, investment funds and family offices. Albania’s Jet Bank secured preliminary approval and chose Backbase for its digital‑only platform, becoming the country’s first...
EU Still Half Dependent on Visa, Mastercard
How close is the EU to break free from Visa and Mastercard's grip? https://t.co/S2cCelErDw 47% of the eurozone’s card payment value passed through Visa & Mastercard in 2025! This is not only financial, it is strategic.
Capital One Shopping/Offers: Earn up to 36.5% Cashback or up to 18X Miles
Capital One Shopping and Capital One Offers are running a limited‑time promotion for Trip.com bookings, delivering up to 36.5% cashback through the Shopping portal and up to 18X transferable miles via Offers. The rates vary by product category, with hotels...