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
Global Payments Inc (GPN) Q4 2025 Earnings Call Transcript
Global Payments reported Q4 2020 results that beat expectations, delivering double‑digit earnings‑per‑share growth and a 210‑basis‑point increase in operating margin. Adjusted net revenue reached $6.75 billion, a modest 5% decline year‑over‑year, while technology‑enabled services now represent 60% of the business. The company announced strategic, multi‑year partnerships with Amazon Web Services and Google to accelerate cloud‑native merchant and issuer solutions. It also highlighted its role in distributing over $2.5 billion of COVID‑19 stimulus payments, underscoring operational resilience.
Indonesia and Vietnam Explore Digital Payment Collaboration
Indonesia and Vietnam are initiating talks to cooperate on digital payment technologies, targeting greater transparency, efficiency, and financial inclusion. The discussions, held in Hanoi, focus on leveraging Vietnam’s real‑time monitoring capabilities to help Indonesian MSMEs maintain accurate records and access...
Circle Responds to Bank of England’s Consultation on Systemic Sterling Stablecoins
Circle has formally responded to the Bank of England’s consultation on a regulatory framework for systemic sterling‑denominated stablecoins. The firm endorses using central‑bank deposits and short‑term UK government bonds as reserve assets but objects to the proposed mandatory 40% allocation...
NY AG Issues Alert on Crypto-Based Pig Butchering Scams
New York Attorney General Letitia James issued a consumer alert warning that crypto‑based pig‑butchering scams are targeting New Yorkers through romance and professional ruses. The scams involve coaches who instruct victims to lie to bank staff, making fraud detection difficult....
FinovateEurope 2026: From AI Hype to Operational Reality
FinovateEurope 2026 highlighted fintech’s transition from AI experimentation to real‑world deployment, emphasizing governed, trustworthy agentic AI. Banks are shifting from product‑centric models to embedded, predictive experiences, with personalization and frictionless onboarding now expected. Over 70% of new fintech products involve...
Bank of Canada Orders XTM to Cease Retail Payment Activities After Investment Regulator Halts Trading of Its Stock
The Bank of Canada ordered fintech XTM and its affiliates to stop all retail payment activities after customers of its Everyday Payments subsidiary reported missing funds. Simultaneously, the Canadian Investment Regulatory Organization halted trading of XTM’s PAID stock, causing the...
Businesses Turn to Stablecoins for Domestic Payments
“There’s going to be a lot of domestic payment activity as well,” said Shawn Main , who is EVP and chief business architect officer at Vantage Bank . “Anecdotally, I’ve talked to plenty of customers who are already doing this....
Anchorage Digital, B2C2 Partner on Institutional Trading, Custody
Anchorage Digital and crypto liquidity provider B2C2 have deepened their collaboration as B2C2 joins Anchorage’s Atlas platform, a two‑way settlement system for institutional crypto trades. Through the partnership, B2C2 will custody assets with Anchorage and settle transactions directly on Atlas,...
Improved Offers for Hilton Cards Coming Soon
American Express is preparing to re‑launch enhanced welcome offers on its Hilton Honors credit cards. The basic Hilton Honors card will grant a free night reward plus 70,000 bonus points after $2,000 spend, while the Hilton Honors Surpass card will...
More Mortgage Competition Could Mean Better Rates for Buyers
Federal regulators are considering easing mortgage‑related capital rules, which could entice large banks to re‑enter the mortgage market in force. After the 2008 crisis, banks’ share of origination fell from about 60% to 35% while non‑bank lenders filled the gap....
Malaysia Starts Sandbox Pilots Incl Tokenized Deposits, Stanchart Stablecoin
Bank Negara Malaysia (BNM) has moved forward with its Digital Asset Innovation Hub, onboarding three stablecoin and tokenized‑deposit projects from more than 30 applicants. The sandbox pilots focus on domestic and cross‑border wholesale payments as well as settlement of tokenized...
Olympics Payments Hurdles Are a Microcosm of EU Challenges
The episode examines how Visa's exclusive role as the card provider at the Milano‑Cortina Winter Olympics exposed Europe’s reliance on U.S. payment networks, leaving many visitors stranded with cash‑only options and long ATM queues. Guest Don Apgar explains that geopolitical...
HSBC Premier Elite Card Review: 60,000 Points Signup Bonus and $495 Annual Fee
HSBC’s Premier Elite card carries a $495 annual fee and offers a 60,000‑point sign‑up bonus after $4,000 of spending in the first three months. Cardholders earn 5× points on all travel, 2× on dining and 1× on other purchases, plus...
Fintechs Embed Bitcoin, Bypassing Trust and Access Hurdles
Bitcoin doesn’t need mass retail adoption to prove utility. It needs regulated distribution. That’s what SoFi Technologies just demonstrated with Bitcoin. This isn’t a “crypto comeback” story. It’s a regulatory arbitrage story. After exiting crypto in 2023 due to bank charter constraints, SoFi re-entered through...
OCC Proposes New Appeal Process for Banks, Trusts
The Office of the Comptroller of the Currency (OCC) has proposed a new appeals board that would review supervisory decisions using a de novo “fresh look” standard. The rule expands appeal rights to uninsured institutions such as national trust banks and...
Fears that Basel III Regulations Could Penalise Africa
The Basel III regulatory package, delayed to a full 2027 rollout, tightens capital quality, leverage and liquidity requirements for banks worldwide. African banks risk higher capital costs because their sovereign debt is risk‑weighted more heavily, potentially limiting credit to the...
The Signal: The Real "Payment Meets Fraud" Journey with Brian Rust at Worldpay | Episode 467
In this episode, Brian Rust, SVP and Deputy CISO at Worldpay, explains how fraudsters now target SaaS platforms and ISVs by exploiting weak onboarding, transaction logic, and refund processes. He outlines the fraud kill‑chain—from synthetic business creation and card‑testing spikes...
IPO-Bound Kissht's NBFC Arm Gets Crisil Rating Upgrade on Strong Growth
Kissht’s NBFC subsidiary Si Creva Capital Services received a CRISIL rating upgrade, moving its long‑term rating to A‑/Stable and short‑term to A1. The upgrade follows a surge in assets under management, which climbed to Rs 5,533 crore by September 2025, driven by rapid expansion...
Ethiopia Deploys Real-Time National Payment Switch
Ethiopia Launches National Instant Payment System with Swiss BPC In a leap for African fintech, Ethiopia has launched its instant payment switch built on BPC’s SmartVista. The system enables 24/7 transfers and QR payments across all banks, providing the "Real-Time Rail"...
Affirm Partnerships Target Growth
Affirm is rapidly expanding its buy‑now‑pay‑later (BNPL) footprint by striking partnerships with Intuit, Expedia, a tenant‑services firm, and payment processor Fiserv. The strategy targets new verticals such as travel, tax preparation, rent payments, and debit‑card users, aiming to broaden consumer...
Affirm’s Move to Become a Bank Signals a Reconfiguration for the BaaS Industry and Beyond
Fintech lender Affirm announced plans to obtain a U.S. banking charter, a move that could reshape the banking‑as‑a‑service (BaaS) landscape. The filing comes as charter applications have surged, with 21 submissions in the first eight months of 2025—more than double...
Tragedy: American Express May Have Closed United Airlines Travel Bank “Loophole”
American Express appears to have ended a long‑standing loophole that let Platinum cardholders claim the $200 annual airline credit by purchasing United Airlines Travel Bank credits. The change, effective around February 6, 2026, reclassifies these purchases as ticket‑related, making them ineligible for...
ZeroLend Shuts Down After Liquidity Dries Up Across Layer 2s
ZeroLend announced it will wind down after three years as liquidity on the Layer‑2 networks it served evaporated. TVL plummeted from a November 2024 peak of $359 million to roughly $6.6 million, a 98% decline, and the ZERO token is down 99%...
X Adds Finance Tools: Smart Cashtags and Visa‑backed Money
The platform that popularized ragebait is bringing you better gambling: 📉 @X will roll out Smart Cashtags, enabling users to view data on stocks and cryptocurrencies directly from their timeline. 💸 X Money is currently in closed beta with employees. A public...
Crime Uses Any Financial Tool, Not Just Crypto
"There's no such thing as 'crypto crime.' "There's crime that is using whatever financial services or technology is available." -- Jessi Brooks https://t.co/jdHAEKYBe9
From First-Mover To Full-Stack Partner
Safe Harbor Financial, led by new CEO Terry Mendez, is transitioning from a niche cannabis‑banking pioneer to a full‑stack solutions partner for the industry. The fintech has already moved tens of billions of dollars through regulated cannabis channels and now...
Debating Slower, Irreversible Crypto Transactions for Safety
Re crypto muggings: "Are we going to make transactions so they're not instantaneous or they're irreversible?" 😳 -- @TuongvyLe12 https://t.co/jdHAEKYBe9
Bankrupt Fraudster Now on Fox Promoting Killer Robots
I don't mean to alarm anyone, but the guy who lost track of $95 million of depositors' money is on Fox talking about building killer robots-
Carlyle, BlackRock Buy Cheap Software Loans to Boost CLO Profits
Carlyle Group, BlackRock, Benefit Street Partners and Oak Hill Advisors are buying pools of low‑yield, software‑focused bank loans. The acquisitions are intended to seed new collateralized loan obligations (CLOs) after a year of compressed margins in the loan market. Buyers...
Chinese State Banks Boost FX Securities by $90B Monthly
Notable acceleration in the fx securities book of the Chinese state banks (And their reverse repo/ other funding of global financial institutions) in January -- consistent with the $90b monthly increase in the reported fx balance sheet https://t.co/PNDncW2w2s
New Capital Rules Unlock $250B+ for Big Banks
New bank capital rules coming which will free up more excess capital at the same time when capital mkts & loan demand are improving. Large cap banks have $175B in excess capital which will go to $250B+ post GSIB...
LSEG Partners with Bank of America to Unlock Next Generation Data, Analytics and AI Ready Content for Clients
London Stock Exchange Group (LSEG) and Bank of America have entered a multi‑year partnership to embed LSEG’s data, analytics and workflow solutions across BofA’s platforms. The deal gives BofA clients governed, rights‑cleared data and AI‑ready content, powered by LSEG Workspace,...
Standard Chartered Slashes XRP 2026 Target by 65%
BIG: Standard Chartered bank cuts its end-of-2026 XRP price target by 65% from $8 to $2.80
Thai Banks’ Bad Loans Dip Slightly
Thai banks’ non‑performing loan ratio slipped to 2.84% at December, down from 2.94% in September. Bank lending fell 1.1% in Q4 2025, marking the sixth straight quarter of contraction, driven by tighter credit to SMEs and consumers. Household debt remains...
IHG Cobranded Visa Debit Card For UK With Revolut Coming In 2026
IHG announced a co‑branded Visa debit card with fintech firm Revolut, targeting UK consumers and slated for launch in late 2026. The new product replaces the IHG‑Creation credit card that was discontinued in 2023, and will be issued under the...
Olaf Sleijpen: Repairing the Vending Machine - How the Savings and Investment Union Is Key to Europe's Future
Olaf Sleijpen, governor of De Nederlandsche Bank, highlighted Europe’s €10 trillion of low‑yield household deposits and the need to channel them into productive capital markets through the Savings and Investment Union. He warned that fragmented insolvency regimes and national rules act...
Policy Paper: Applying the FSMA 2000 Model of Regulation to the Capital Requirements Regulation
HM Treasury’s 2025 policy update outlines a shift from the EU‑derived Capital Requirements Regulation to a UK‑specific framework built on the Financial Services and Markets Act 2000. The Treasury will revoke parts of the CRR and replace them with rules...
The New Forces Shaping for Financial Trust
Banks must protect trust while delivering real‑time digital services, prompting CIOs to balance speed, innovation, and regulatory risk. Tata Communications identified four forces—Simplification, Network as a strategic asset, AI readiness, and Precedent‑free leadership (SNAP)—that now shape technology agendas in financial...
What Liquid Death Can Teach Banks
In this episode of Banking Transformed, Jim Marous and a lineup of industry leaders explore how banks can learn from the bold branding and cultural disruption of Liquid Death. Guests discuss leveraging visionary partnerships, generative AI, and platform strategies to...
4 Steps to Building Your Own Fintech
UK platforms Klipboard, Access Group, and Epos Now illustrate a four‑stage roadmap for building embedded finance. They begin by validating assumptions and launching embedded payments, then evolve payments into a core, cross‑functional capability. Next, they add complementary financial products such as...
Piero Cipollone: The Digital Euro - Strengthening Europe's Payments Ecosystem
In a speech in Nicosia, ECB Executive Board member Piero Cipollone presented the digital euro as a cornerstone for Europe’s payment autonomy, security and competitiveness. He emphasized the ECB’s readiness to issue retail central‑bank digital money while maintaining wholesale settlement...
Emirates NBD Leads $31 Million Round in Real Estate Investment Platform Stake
Stake, a fractional real‑estate investment platform, closed a $31 million financing round led by Emirates NBD, bringing its total capital to $58 million. The raise backs Stake’s rapid expansion beyond Saudi Arabia into the United States and supports its regulated offering in the Kingdom....
Private Credit: Poised For Growth
Asia‑Pacific private credit is entering a rapid expansion phase, with issuance projected to rise from $59 billion in 2024 to $92 billion by 2027. Industry leaders such as SC Lowy and Moody’s cite digitalization, the energy transition, and infrastructure needs as primary catalysts,...
Indian Banks: From Credit Provision to Liquidity Provision?
India’s corporate funding is increasingly sourced domestically as the yield gap with US Treasuries narrows to about 2.5%, eroding the cost advantage of foreign‑currency debt. Deepening private‑credit markets now finance even near‑investment‑grade borrowers, exemplified by a recent $3.4 billion rupee‑denominated deal....
Velera’s Chuck Fagan: ‘Speed to Member Impact’ Is the Only KPI That Matters for Credit Unions
Chuck Fagan, CEO of Velera, told PYMNTS that credit unions must make "speed to member impact" their primary KPI, measuring how quickly they deliver solutions from concept to market. He warned that the term "credit" alienates millennials and Gen Z,...
What CFOs Need From Banks and FinTechs in Cross-Border Payments
Cross‑border payments are undergoing a structural shift as CFOs demand more predictable, liquid, and compliant solutions. FinTech firms have accelerated speed and API‑driven usability, opening new corridors and transparent pricing. At the same time, banks are investing in modern settlement,...
Nairagram Completes ₦10 Billion Capital Raise to Deepen Financial Connectivity Across Africa
Pan‑African payments firm Nairagram completed a ₦10 billion commercial paper issuance, fully subscribed within 48 hours after regulatory clearance from the Central Bank of Nigeria. The capital will fund operations across 37 African countries, accelerating expansion in key markets such as Nigeria,...
Fintech Treyd Targets Doubling UK Customer Base as It Hits £200m Lending Milestone
Swedish fintech Treyd has surpassed £200 million in UK lending since its 2022 launch, making Britain its biggest market with more than 500 customers. The company plans to double its UK client base by 2027, targeting underserved SMEs that need rapid...
Join Me in Berlin to Advance Payments at MPE2026
Counting down the days to #MPE2026 with my @Consult Hyperion Hat on! Join me in Berlin: https://t.co/COnbfNb691 Move payments forward, #MPE2026 is your place. @mpecosystem #Payments #Fintech #MPEBerlin #ILoveMPE https://t.co/XpEOPoPtB3
Overseas and E-Commerce Payments to Be Made Easier in Ethiopia
The National Bank of Ethiopia announced sweeping foreign‑exchange reforms, letting exporters retain 100% of their foreign‑currency earnings in designated accounts and permitting banks to issue payment cards linked to those accounts. The minimum $100 requirement for foreign‑exchange savings accounts has...