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
How Australia’s AML Reforms Are Reshaping FinCrime Strategies
Australia is poised to implement sweeping anti‑money‑laundering and counter‑terrorism financing reforms that pivot AUSTRAC toward outcomes‑based regulation. The changes compel banks and fintechs to shift from reactive detection to proactive prevention, emphasizing risk‑based strategies, biometric verification, and early‑stage safeguards. Industry leaders highlighted the need for clear strategic priorities, cross‑institution collaboration through initiatives like the Fintel Alliance, and direct engagement with regulators. Success will be judged by tangible reductions in illicit activity rather than sheer alert volumes, turning compliance into a competitive advantage.
SBA EIDL Loan Payment: Your Guide to Making and Managing Payments
The Small Business Administration’s Economic Injury Disaster Loan (EIDL) program, initially a pandemic lifeline, now requires borrowers to begin regular repayments after deferment periods end. Loans carry fixed interest rates of 2.75% or 3.75% and can extend up to 30...
SEA QR Payments Surge, Powering Cross‑Border Trade
The IMF has a MUST-READ report covering Southeast Asia’s (SEA’s) QR-based digital payment revolution that is transforming cross-border payments, promoting local currency usage, and boosting trade and inclusion. Humble QR payments, born in China back in 2014, are now changing all...
Businesses Struggle to Adapt as Late Payments Surge, Tariffs Reshape Costs, Report Reveals
Billtrust’s March 31 report reveals finance leaders grappling with longer invoice cycles, rising tariff costs, and economic uncertainty. Two‑thirds of respondents say customers are paying later, prompting nearly half of firms to tighten cash handling and 70% to delay or cancel...
Analysts Press Bank CFOs on Revenue Resilience over Tech Investments
Analysts probing publicly‑traded banks in January asked CFOs about the durability of revenue growth, with 30% of questions focused on quality and resilience. Only 15% of the inquiries touched on artificial‑intelligence investments, while a quarter examined expense flexibility and operating...
Bankers Say AI Is Not Eating Jobs, Yet
A new American Banker AI Talent Shift Survey 2026 finds only 3% of bankers report AI‑driven layoffs, while 28% see efficiency gains and 12% note role augmentation. Despite current optimism, 33% of executives at large national banks expect headcount reductions...
Banks Need to Get Serious About Climate Risk in Their Mortgage Books
Mortgage lenders are being urged to embed climate risk into underwriting as extreme weather events surge, threatening property values and insurance availability. In 2025, the United States experienced 23 billion‑dollar disasters, the third‑highest year on record, underscoring the financial stakes....
AI Driving Changes in Nordic Financial Services
Nordic banks and insurers are accelerating AI adoption as digital‑only challengers like Lunar capture market share. Lunar has raised €540 m (≈ $594 m) to turbo‑charge its AI‑driven expansion, while incumbents such as Tryg, Danske Bank and If Forsikring launch AI hubs and digitisation...
Blog 111a. Banking’s Identity Problem: Why Digital Cards and Instant Payments Need a Human-Verified Security Layer
The article argues that modern banking’s security still leans heavily on credentials, sessions, and device identifiers, leaving digital cards and instant payments exposed to fraud. It highlights regulators’ push for layered authentication yet notes that criminals routinely bypass these controls...
Press Release: Standard Chartered Hires Ole Matthiessen to Lead New Global Transaction Services and Digital Assets Team for Corporate &...
Standard Chartered has hired Ole Matthiessen as Global Head of Transaction Services & Digital Assets, leading a newly unified team within its Corporate & Investment Banking division. The team combines transaction banking, financing and securities services with the bank’s rapidly...
APRA Releases Consultation on Remaking Level 3 Conglomerate Standards
On 31 March 2026, APRA issued a consultation to remake its Level 3 conglomerate prudential standards, which will sunset on 1 October 2026. The standards—3PS 310 (audit matters), 3PS 221 (aggregate risk exposures), and 3PS 222 (intra‑group transactions)—are slated for minor textual updates. APRA emphasizes that the revisions...
TikTok Applies for Brazilian Fintech Licenses to Offer Payments and Lending to 131 Million Local Users
TikTok has filed applications with Brazil's central bank for two financial licences: one to operate as an electronic‑money issuer allowing users to hold balances and make in‑app payments, and another to act as a direct credit company that can lend...
Revolut Expands LATAM Presence with Peru Bank License
Revolut has been granted an Organisation Licence by Peru’s Superintendency of Banking, Insurance and AFP, making it the first fully digital bank authorised in the country. The licence allows the UK‑based neobank to incorporate locally and move toward a functional...
Goeasy Technologies Posts C$337 M Q4 Loss, Halts Dividend and Buybacks
Goeasy Ltd. announced a C$336.94 million (≈$249 million) net loss for the fourth quarter, driven by LendCare-related charges and higher credit losses. The board also suspended its regular dividend and share‑repurchase program indefinitely to preserve capital. The results mark a sharp reversal...
Monte Dei Paschi Proxy Fight Ousts CEO Lovaglio, Backers Face New Risks
Monte dei Paschi di Siena’s board has launched a surprise proxy fight that removes incumbent CEO Luigi Lovaglio and installs a new slate of directors aligned with construction magnate Francesco Gaetano Caltagirone. The move triggers scrutiny from the European Central...
Home Loans Hit a Record High in Portugal: Experts Say the Time to Act Is 'Now'
Portugal’s housing loan portfolio surged to a record €112.4 bn (about $122.5 bn), up 10.4% year‑over‑year, as Euribor rates climbed above 2.5% following Middle‑East tensions. Borrowers with contracts reviewed in April face monthly payment hikes of roughly $16 for six‑month Euribor loans...
Iran War Risks Private Credit Crisis and AI Bubble Bursting, Bank of England Warns
The Bank of England warned that the U.S.-Iran conflict could trigger a cascade of financial stresses, amplifying existing weaknesses in private‑credit markets and over‑valued AI‑focused stocks. A negative supply shock is tightening financing conditions, raising the risk of simultaneous credit...
CBDC Leaders Still Back Cash, Not Eliminating It
Is this what passes as scholarship at the @OMFIF these days? "Don’t kill cash - OMFIF" No CBDC-building nation has proposed the elimination of cash. Look at China and India as examples of the two largest. Both...
04.01.26 Adjustable Rate Mortgages - A Waning / High Deductible Health Plans
In this episode Clark Howard warns listeners about two financial pitfalls: the surge in Adjustable‑Rate Mortgages (ARMs) and the rise of high‑deductible health plans (HDHPs). He explains that ARMs can save about 1% in interest for borrowers who have substantial...
CBN Begins Virtual Asset Anti-Money Laundering Supervision, Names Paystack, Flutterwave for Pilot
The Central Bank of Nigeria (CBN) has launched an anti‑money‑laundering, counter‑terrorism financing pilot targeting a select group of virtual asset service providers (VASPs). The pilot includes prominent fintechs such as Paystack, Flutterwave, KuCoin and others, and will require monthly AML/CFT...
Register Now For Chase Freedom Flex 5x Points Categories Q2 2026 (Amazon!)
Chase has opened registration for the Freedom Flex Q2 2026 bonus categories, running April 1‑June 30. Cardholders can earn 5× points on Amazon purchases, donations to Feeding America, and Chase Travel, with travel spending qualifying for up to 9× points due to the card’s...
Banks Fail to Shield Your Money From Digital Scams
Your money is not safe. You are left completely exposed to digital financial crimes and e-banking scams. The latest BNM 2025 report proves that financial institutions are failing to properly protect you. Wake up before your hard-earned life savings vanish forever.
Integrate AI Into Banking Operations for Competitive Edge
AI is no longer a “test and learn” exercise. Those who integrate it into live operations will set the pace for competitive advantage in banking. https://t.co/9jfjXgRP2i
CBN Gives Banks 21 Days to Grade Their Cyber Defences
Nigeria's central bank has issued a circular requiring banks, fintechs and other financial institutions to complete a new Cybersecurity Self‑Assessment Tool (CSAT) within 21 days for deposit banks and five weeks for other entities. The move follows a surge in...
Asset‑Liability Mismatches Trigger Liquidity, Then Credit Crunches
"Asset liability mismatches cause liquidity crunches and liquidity crunches can cause credit crunches. That’s just the way it is." - Kieran Goodwin (EP.494) With thanks to @AlphaSenseInc, @MorningstarInc, and Ridgeline.
Asian Banks' Personal Touch Losing to Tech Scale
🌏Are Asian banks’ human-led model losing the #wealth war to tech rivals? Traditional #banks can no longer rely on personal ties alone as tech rivals use massive digital scale to rewrite the rules of #WealthManagement. Ed Lin, @BainandCompany via @AIWealth_net: https://t.co/Oxb9J9WGa4 #WealthTech...
StanChart Among First Banks to Launch FPS Cross-Border Payment Service for Offshore Fin Institutions
Standard Chartered Bank Hong Kong (SCBHK) has become one of the first banks in Hong Kong to offer a Faster Payment System (FPS) cross‑border service for offshore financial institutions and PayTech firms. The service enables real‑time, 24‑hour settlement of payments up...
UBS Receives Reassuring Signals From Swiss Parliament
Swiss parliamentarians have informally assured UBS that the government’s proposed "too‑big‑to‑fail" capital hike will be softened. The Federal Council’s draft would force UBS to raise roughly $22 billion in capital, a figure the bank argues threatens its competitiveness. Lawmakers indicated a...
Banking On Silence: Can Credibility Cushion the Silence of HDFC Bank?
HDFC Bank’s part‑time chairman Atanu Chakraborty resigned abruptly, citing vague “values and ethics” misalignment, sparking immediate governance concerns. Within a day, the Reserve Bank of India installed veteran Keki Mistry as interim non‑executive chairman and affirmed the bank’s financial soundness....
High Street Banks Could Learn From Revolut’s Fee Bonanza
Revolut has introduced a steep fee increase across its premium subscription tiers, raising charges by roughly 20% and projecting an additional $150 million in annual revenue. The move follows a broader strategy to monetize value‑added services such as crypto trading, travel...
AI ‘Machine Customer’ Secures Home Loan in Under 10 Minutes in New Cloudcase Demo
Cloudcase, an Australian‑origin digital origination platform, demonstrated an AI assistant completing a full home‑loan application for two borrowers in under ten minutes. The AI handled document verification, identity checks, eligibility assessment and final submission without any human‑filled forms. The workflow,...
Upcoming Bank Of America Atmos Refer A Friend Offer – 80k Points + 50% Discount
Bank of America’s Alaska Airlines Atmos card will soon launch a refer‑a‑friend promotion that grants 80,000 bonus points, a 50% flight discount code, and a $99 companion fare (taxes and fees start at $23) after the new cardholder spends $4,000 within...
Revolut in Talks to Acquire Major Asian Bank
Revolut is reportedly in advanced talks to acquire an Asian bank to secure a full banking licence and accelerate its regional push. While a takeover of DBS Group is dismissed as financially impractical, analysts point to smaller digital‑only institutions as...
Will Surging Fuel Prices Push Filipinos Deeper Into Credit Card Debt?
Credit‑card receivables in the Philippines surged to 1.1 trillion pesos ($18.1 bn) in September 2025, up 29% year‑on‑year, as fuel price spikes from the Middle East conflict squeeze household budgets. A fintech study found the average cardholder owes about 92,800 pesos ($1,530),...
Abu Dhabi IFC Attracts More Global Players, AUM Surges 36% in 2025- #CapitalMarkets #Finance #Treasury #Finance
Abu Dhabi Global Market reported a 36% jump in assets under management in 2025, reinforcing its status as the Middle East and Africa’s largest international financial centre by licence count. Active licences rose 30% to 12,671 and the workforce grew...
Digital-Bank-Ramps-up-Use-of-Capital-Relief-Trades
A leading digital bank has accelerated its deployment of Synthetic Risk Transfer (SRT) transactions, boosting capital relief activity by roughly 45% year‑over‑year. The bank generated about $2.3 billion in regulatory capital relief during the latest quarter, allowing it to lift its...
Fintech - March 2026
The Consumer Financial Protection Bureau (CFPB) plans to issue an interim final open‑banking rule in 2026, revisiting data‑access requirements after suspending its 2024 rule. Meanwhile, the House‑pending Bank‑Fintech Partnership Enhancement Act would empower the OCC and Federal Reserve to study...
Banks Funnel Tens of Billions Into Data‑Center Lease‑Back Deals Amid AI Boom
Goldman Sachs, JPMorgan, KKR and other Wall Street firms are underwriting project‑finance and leveraged‑loan packages worth tens of billions of dollars for data‑center assets. The surge is tied to a trillion‑dollar forecast for AI‑driven computing infrastructure, reshaping credit markets and...
The Financial Action Task Force: An Accountability Mechanism for the United States
The Financial Action Task Force (FATF) is conducting its third mutual evaluation of the United States, scrutinizing compliance with anti‑money‑laundering and counter‑terrorism financing standards, especially Recommendation 8 that protects legitimate non‑profit organizations. The Trump administration has intensified regulatory pressure on...
Lenders to Vista's Software Firm Solera Form Pact as Loans Near Maturity
Senior lenders to Solera Holdings, including Apollo Global Management and Pacific Investment Management, have engaged White & Case as a joint legal adviser as the company’s 2028 debt matures. The lenders signed a cooperation agreement that binds all participants together for...
Meta Fraud Pressure Grows as Payments Association Calls for Shared Liability
The Payments Association released a white paper warning that authorized push payment (APP) fraud now largely originates on digital platforms such as Meta’s Facebook, Instagram and WhatsApp. It cites that roughly two‑thirds of APP fraud cases in early 2025 began...
Nexi and PayPal Widen European Alliance in Push to Simplify Digital Commerce
Nexi and PayPal have expanded their partnership beyond Italy, embedding PayPal’s ecosystem directly into Nexi’s merchant platform across Europe. The rollout will initially cover Italy, the Nordics and Poland, giving merchants a single point of connection for digital payments and...
China Pushes CIPS to Compete with Western Payment Networks
China is accelerating reforms to its Cross‑Border Interbank Payment System (CIPS) to position it as a viable alternative to Western‑dominated payment networks. The first major rule change since 2018 expands CIPS beyond renminbi‑only clearing, adding multicurrency settlement and broader foreign‑payment...
US Market Proves Too Tough for Foreign Neobanks
Monzo is leaving the US. ~50 layoffs, accounts wind down by June. This is the pattern now. N26 left in 2022. Revolut's US push has stalled. The thesis that a better mobile bank can simply be exported into the US market...
Digital Upgrades on Broken Cores Guarantee Failure, Not Transformation
many banks are building sleek digital experiences on top of broken core systems. That’s a recipe for failure, not transformation. Watch the full episode now: https://t.co/BQNDlxuwMR https://t.co/zpEHfYUGzi
Elavon and Liberis Expand Partnership Enabling Small Businesses to Access Fast Funding
Elavon and Liberis have extended their partnership to Canada, launching Quick Capital – a revenue‑based financing product embedded directly in the Elavon merchant portal. The solution targets more than 202,000 Canadian small‑to‑medium businesses, offering fast, flexible funding with minimal paperwork...
Roger Reshapes Banking for the Military Community
“ROGER exists to re-establish what banking should look like for the military community: stable, modern, transparent, and designed around service members’ realities" - https://t.co/YrpJ4hBrFZ featured today in https://t.co/xUPIH1zqKM! https://t.co/koyDa67vBl
White Smoke Signals New JPMorgan Collar Strike
White smoke can be seen billowing out of the top of the JP Morgan building as a new JPM collar strike has been chosen https://t.co/UWJFjOF7Rr
ADG 3/31: Interval Training
U.S. banks are tightening credit for private‑credit vehicles as borrowing costs for business development companies have risen to roughly 2% above the Secured Overnight Financing Rate, squeezing fund managers' interest income. At the same time, redemption pressure on non‑public BDCs...
Monzo Exits US Market, Informs Customers via Email
Monzo is calling it quits in the US, per emails the company has sent to customers: https://t.co/O6zV63RcXB