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
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 earning the highest rewards and flights the lowest. The deal expires on March 4 2026, and new users can claim an $80 referral bonus when they join Capital One Shopping.
CCCA Seeks New Path to Passage
Senators Dick Durbin and Roger Marshall are seeking to attach their Credit Card Competition Act (CCCA) to the bipartisan 21st Century ROAD to Housing bill, hoping to secure a Senate vote. The CCCA would require banks to provide merchants with...
Short‑Term Cash: Treasury MM or HYSA, Not Stocks
"I need to park $50k of cash for 12 months. What are my options?" > $VUSXX (Vanguard Treasury MM Fund) or any Treasury equivalent. State/local tax exempt, 3.63% yield > HYSA (FDIC insured, ~3%) Don’t invest it, unless 12 months turns into 12...
Bill Open to M&A Deals, CEO Says
Bill Holdings CEO René Lacerte told investors at the Morgan Stanley TMT conference that the company is actively evaluating merger‑and‑acquisition opportunities as activist shareholders increase pressure. He cited recent fintech consolidations—such as the sales of Brex, AvidXchange and Melio—as proof...
Thales Updates and Enhances Naranja X’s Payment Security
Thales announced that Argentina fintech Naranja X has expanded its use of the Thales D1 Platform, adding Entersekt’s authentication suite to secure online payments. The cloud‑native solution enables tokenized Apple Pay and Google Pay wallets and implements 3‑DS protocols for e‑commerce. Naranja X reports over...
Leveraged Loan Insight & Analysis – 3/2/2026
U.S. sponsored loan issuance reached $148.7 bn YTD through February 2026, a 26% decline compared with the same period last year. Refinancing activity accounted for $82.3 bn, or 55% of total volume, while new money contributed $66.4 bn (45%). The slowdown reflects tighter...
Earnings Summary: Highlights of Advanced Flower Capital’s Q4 FY25 Report
Advanced Flower Capital Inc. posted a modest Q4 FY25 net income of $0.9 million, or $0.04 per basic weighted‑average common share. The quarter also recorded a distributable loss of $2.8 million, or $0.12 per share, while net interest income was $5.19 million against...
Amex Taps Customers for Fraud Fight
American Express is leveraging direct conversations with cardholders who have faced fraud to gather real‑time intelligence on scam tactics. The data helps the firm refine detection models as U.S. consumers lost $12.5 billion to fraud in 2024, a 25 percent rise. Executives...
SUNRATE and Repayd Join Hands to Power Global Payments
SUNRATE, a global payment and treasury platform, announced a strategic partnership with travel‑focused merchant‑account provider Repayd at ITB Berlin 2026. The alliance merges SUNRATE’s worldwide financial network with Repayd’s specialist travel payment infrastructure. Together they will deliver faster international payouts,...
Digital Bank N26 Bolsters European Expansion Efforts with Madrid Operations Hub
N26 announced a new Centre of Excellence in Madrid, its second dedicated operations hub, to support its expanding Spanish workforce and coordinate banking, customer service, and process functions across Europe. The 2,000‑square‑metre facility complements the existing Barcelona tech centre and...
Mastercard and Visa Enrich Stablecoin Settlement Capabilities to Supercharge Global Payments in 2026
Mastercard and Visa announced expanded support for stablecoin settlement, enabling tokenized dollar transactions on their networks starting March 2026. The move includes the launch of stablecoin‑backed debit cards that settle directly in digital dollars rather than traditional fiat. By shifting...
Truist’s Dontá Wilson: ‘Innovation without Empathy Is Empty’
Truist’s Chief Consumer and Small Business Banking Officer, Dontá Wilson, highlighted the need for banks to blend digital excellence with genuine human empathy. He explained Truist’s multi‑year growth plan, which leverages AI to enhance both its 20,000‑person workforce and its...
ARQ Raises $70M To Expand Stablecoin Banking In Latin America
ARQ, formerly DolarApp, raised $70 million in a Series B led by Sequoia Capital and Founders Fund. The funding will fuel a rebrand, team expansion, and rollout of new financial products beyond its core stablecoin remittance service. With more than two million...
Amex “Add a Card” Bonus Event: Earn Points for Adding Cards
American Express is relaunching its “Add a Card” bonus event in Canada, running from March 3 to April 30 2026. The promotion introduces a tiered structure where supplementary cardholders earn increasing points or credits based on their first‑three‑month spend. Up to two personal...
Kraken Secures First Fed Master Account, Reviving Narrow Banking
This is bigger news than people realize: @krakenfx just became the first crypo exchange to receive a "Master Account" from the @FederalReserve. Narrow banking is back. 👉 A Fed master account provides direct access to the central bank’s core payment systems — including...
Nomba Wants Nigerian Merchants to Collect Pounds Directly From UK Banks
Nomba has teamed with UK Open Banking platform Volume to let Nigerian merchants collect British pounds directly from UK bank accounts, sidestepping traditional card processors and saving 6‑7% of revenue. The integration uses the Faster Payments rail, settles instantly into...
AI‑Powered Stablecoin Cards Operate Within User‑Set Budgets
AI agents won't run off with your money. Wirex Agents just changed the game. It’s Non-Custodial, meaning you never "give" your money to the AI. You simply set a strict budget (e.g., $50 for groceries), and the AI uses its...
Mortgage Renewal Headwinds Near a ‘Turning Point’ for Pandemic Buyers, Report Says
TD Bank’s latest report signals that the mortgage renewal shock for pandemic‑era borrowers is easing. The household debt‑service ratio dropped to 14.6% in Q3 2025, aided by nearly eight‑percent disposable‑income growth in 2024 and 4.7% in 2025. Homeowners are lengthening amortizations,...
Irish Consumers Amongst European Leaders in Digital Payment Adoption
BearingPoint’s Europe‑wide payment study shows Irish consumers leading digital payment adoption, with 73% regularly using contactless and 62% favoring Revolut for peer‑to‑peer transfers. Cash usage in Ireland fell to 58%, and 24% say they will definitely abandon cash within ten...
Evlo Partners with CreditLadder to Tackle Financial Exclusion and Boost Renters’ Credit Profiles
UK fintech Evlo has announced a partnership with CreditLadder, the country’s leading rent‑reporting platform, to automatically submit renters’ monthly payments to major credit bureaus. The collaboration targets tenants with thin or non‑existent credit files, aiming to convert rent—one of the...
Axis Bank Ties up with Tesla as Preferred EV Financier in India
Axis Bank announced it will serve as Tesla's preferred financing partner in India, becoming the first lender to provide loan tenures up to 10 years for premium electric vehicles. The partnership will roll out across major metros and emerging EV...
Airtel’s SmartCash Hits 3 Million Users in Nigeria’s Mobile Money Push
SmartCash, Airtel Nigeria's payment service bank, reached nearly three million active users, defined by transactions in the past 30 days. The platform offers zero‑fee transfers, bill payments and a 15% annual interest on savings, positioning it against fintech rivals OPay...
Oil Crisis Drives Crypto Survival; AI Rules Written in Blood
@sandy_carter `s POV `Iran War, An Oil Crisis, A Crypto Stress Test, And An AI Reckoning` Oil. Crypto. AI. Most coverage is missing the "Big 3" takeaways: 1️⃣ Crypto’s Dual Identity: It’s a "risk asset" for Western traders but a "survival tool"...
Outsourcing Crime Control: How EU Anti-Money Laundering Rules Threaten Financial Privacy
The European Union’s revised anti‑money‑laundering (AML) and counter‑terrorist financing framework transfers crime‑detection duties from public authorities to private banks and other obliged entities. By mandating extensive collection of personal and transactional data, the rules compel institutions to flag customers as...
RFR Adoption in Cleared Rates Swaps – 2025 Update
The 2025 cleared rates‑swap data show that just over 62% of the $1,076 trillion notional is tied to risk‑free rate (RFR) indexes, leaving a 38% minority still anchored to legacy IBORs. Major currencies such as GBP, JPY and CAD have largely...
Has the Ghanaian Banking Sector Turned the Corner?
Ghana's banking sector is stabilizing as macroeconomic recovery and sweeping reforms take hold. Inflation fell from a record 54.1% in 2022 to 5.4% by early 2026 and the cedi appreciated about 30% while the Bank of Ghana cut its policy...
AIB Plans to Return €2.25bn to Shareholders and More than Quadruple CEO Pay
Allied Irish Banks (AIB) announced a €2.25 bn capital return to shareholders, comprising a €988 m final dividend and a €1 bn share‑buyback approved by regulators. The bank posted a €2.14 bn net profit for 2025, down from the prior year, as net interest...
BNPL Fintech Affirm Shares Insights on Managing Rental Payments
Affirm warns that many renters face predatory BNPL schemes that can charge over 180% APR, turning a simple rent split into costly debt. The fintech highlights its own consumer‑friendly approach, offering a zero‑interest Pay in 4 plan that breaks rent...
Large Greek Banks: Solid F2025 Results Provide Buffers Against Heightened External Risks in 2026
Greek banks Alpha, Eurobank, National Bank of Greece, and Piraeus posted a combined net profit of €4.5 bn in fiscal 2025, a 5% year‑on‑year increase driven by higher fee income and one‑off gains despite net interest income compression. Return on equity...
Full Fee Disclosure Drives Client to Switch Banks
A client moved to me after 6 years with a private bank. He didn't leave because of poor performance. He left because he finally saw the full fee statement. His relationship manager had never shown him the total annual cost in dollars.
Three‑quarters of Leaders Report Network Cyber Fraud Surge
Nearly 75% of global leaders saw someone in their network hit by cyber fraud last year. Phishingn & smishing lead. With ransomware up 4x since 2021, organizations must manage third-party risk and treat cybersecurity as strategic. https://t.co/UZFhgJpvny https://t.co/RZ38Isc4tZ
Which Markets Had the Highest Demand for Renovation Loans?
Renovation loan demand is strongest per capita in New England and Mountain states, with Rhode Island topping the nation at six applications per 1,000 residents. While total home‑improvement loan applications fell 3 % year‑over‑year, transaction volume held steady at $144 billion, driven...
Liquidity Buffers Intended for Crises Are Being Hoarded
Great point in @SecScottBessent speech: Post-2008 liquidity buffers were designed to be spent in a crisis. Instead, they are treated as untouchable minimums and so banks hoard liquid assets rather than deploy them, making stress worse. (1/3) @vtg2 @BrendanPedersen @amacker...
Product Parity Rendering Banks Invisible, Says Netzer
[New Episode] Product Parity Has Made Banks Invisible. Interview with Allison Netzer, Founder & CEO of https://t.co/QJ33Z67WGS. Watch the latest episode: https://t.co/vlOtQ9OtTq https://t.co/LzWIqjgLSS
PayPal and TCS Blockchain Modernize Logistics Payments
PayPal and TCS Blockchain have partnered to launch a blockchain‑based payment platform that uses PayPal USD (PYUSD) stablecoin to settle freight invoices. The solution promises same‑day, year‑round settlement and cost reductions of up to 90% compared with traditional invoice factoring....
Mortgage Demand Jumps 11% as Rates Near Four‑year Low
Weekly #Mortgage demand surged 11% higher last week, as rates sat near 4-year low https://t.co/2HClawHnMz @MBAMortgage
Seeking AI GRC Founder Connections After Impressive Vendor Meet
Looking to talk to more AI GRC platforms: 2 clients met with a vendor recently and were really impressed with the companies and space. Would love to meet some dope founders if anyone has recs
Usual Integrates Virtual IBANs to Simplify Euro Transactions
Decentralized stablecoin platform Usual has introduced direct EUR0‑to‑EUR conversions using SEPA and SEPA Instant transfers, supported by virtual IBANs. The EUR0 token, backed by European sovereign bonds, lets users deposit euros into a virtual IBAN and receive instant digital balances...
Crypto Exchanges Outshine Banks in Compliance and Transparency
DISGUSTING JP MORGAN CEO “If you want to be a bank become a bank” Yeah Jamie, crypto exchanges are already more compliant and transparent with banks. I have no idea how much cash you have on hand because it’s not public unlike...
Zūm Rails Teams Up with Fiserv to Bring In-House Card Acceptance to US and Canadian Businesses
Zūm Rails has partnered with payments‑technology giant Fiserv to become an official payment facilitator, unlocking in‑house credit‑card acceptance for merchants across the United States and Canada. The new capability lets businesses embed fully customized checkout flows directly into their platforms,...
Billtrust Debuts Agentic Credit to Catch Payment Risks
Billtrust announced the Agentic Credit Lines product, an AI‑driven credit risk tool embedded in its AR workflow. It leverages a proprietary network of 13 million buyers and 25 years of B2B payment data to analyze payment history, utilization patterns, and external credit...
Stablecoins Power Philippines’ Thriving Gig Economy
The Philippines’ gig workforce, now about a quarter of employed workers, is turning to stablecoins for cross‑border payouts. Traditional bank transfers can delay payments for days and erode earnings by up to 10% through fees and FX conversion. Stablecoins such...
Lenders' Rent-Stabilized Disappearing Act, By The Numbers
Flagstar Bank, formerly New York Community Bancorp, slashed its rent‑stabilized loan originations from nearly $3.9 billion annually to just $58 million last year, mirroring a broader market contraction. Overall NYC rent‑stabilized financing fell from $27.6 billion in 2019 to under $11.3 billion in 2024,...
HECM Lenders See Subdued Numbers to Start the Year
Government‑backed Home Equity Conversion Mortgage (HECM) endorsements dropped 20.7% from January to February, reaching 1,821 transactions, and are down 26.6% year‑over‑year. The slowdown coincides with the rise of proprietary reverse‑mortgage products that offer higher limits and no mortgage‑insurance requirement, drawing...
Credit Unions Deliver the Worst CRE Underwriting in Market
The worst commercial real estate underwriting in our market isn’t private credit (and that’s pretty bad)…it’s credit unions.
Stop Payment Fraud Before It Starts
Automated bank account verification protects AP departments from payment fraud. Fraudsters now use AI‑generated emails and deep‑fake audio to hijack bank‑change requests, leading to costly losses. Real‑time verification confirms account ownership, status, and matches supplier data while creating an immutable...
How Nigerian Neobank Kuda Built Its In-House Core Banking Application
Nigerian neobank Kuda, serving over seven million customers, built its own core banking application, NERV, to overcome scalability and reliability limits of a third‑party provider. Starting in 2019 with a modest pre‑seed fund, the engineering‑first team ran NERV in parallel...
Next Steps in Papua New Guinea’s DPI Rollout Include Digital ID for KYC, AI Adoption
Papua New Guinea is advancing its digital public infrastructure (DPI) with a pilot that uses the SevisPass digital ID and SevisWallet app to enable remote KYC for online bank account openings, led by MiBank and the government. The rollout is...
Opendoor Says It Will Offer 4.99% Mortgage Rates to Its Home Buyer Customers
Opendoor announced a beta mortgage product that will provide a 30‑year fixed rate of 4.99% with no points or fees, roughly a full percentage point below the current 6% market average. The discount is achieved through reduced margins, automation, and...
Bank of Japan Expands Blockchain Settlement Sandbox and Says CBDC Efforts Are Ongoing
The Bank of Japan announced an expansion of its blockchain sandbox to experiment with settlement of central bank reserves using tokenized deposits, targeting interbank and securities use cases. Governor Kazuo Ueda said the pilot will test connections to existing systems...