Today's Banking Pulse
Mortgage refinance demand falls 18% as rates climb to 6.65%
Refinance applications dropped 18% week-over-week, with the average 30-year fixed rate rising to 6.65%, the highest since August 2025. Refinance filings now represent just 38% of total mortgage applications, the lowest share since June 2025, while purchase‑loan volume edged down 0.4% and average loan size hit $473,600.
Square’s Latest Deals Show Its POS Directions As It Seeks More Merchants
Square announced two strategic partnerships: Chicago seafood retailer The Fish Guy adopted an e‑commerce service powered by eGrowcery and linked to Square's payments platform, while Australian chain The Pancake Parlor migrated its fractured tech stack to Square's POS in just eight days. Both deals underscore Square's push to broaden its merchant base and offer end‑to‑end solutions beyond basic checkout. The moves come as Block reports 4.5 million merchants worldwide and prepares a 40% workforce reduction while leaning on AI to drive efficiency.
Don't Let Iran War Stall Bank Deregulation
It's important not to let the war in Iran get in the way of deregulating giant banks. https://t.co/bOsbNAHMUC
Amex Soups up Cards for Concur
American Express announced integration of its virtual‑card solution into SAP’s Concur expense management platform. The new capability lets corporate users generate single‑use card numbers, set spending limits and automatically reconcile transactions, initially rolling out to select U.S. customers with a...
27th Connected Banking Summit – North Africa, Egypt 2026 Powering Inclusive Digital Banking and Technology-Enabled Financial Infrastructure in North Africa
The 27th Connected Banking Summit convenes in Egypt in 2026, targeting inclusive digital banking and technology‑enabled financial infrastructure across North Africa. The agenda spotlights AI‑native payment solutions, exemplified by Pismo and Visa’s partnership with Vivi Money in Australia, and the...
Affirm Outlines Options if Economic Stress Rises
Affirm's CFO Rob O’Hare said the buy‑now, pay‑later lender could tighten its underwriting if U.S. economic stress intensifies, including dropping low‑margin loans, requiring down payments, and asking for more financial information. He emphasized these measures are hypothetical and that the...
The EBA Publishes Final Draft Amending Technical Standards Shortening the Timing for the Application for Prior Permission to Reduce Own...
The European Banking Authority released a final draft amending the Regulatory Technical Standards on own funds and eligible liabilities, cutting the processing time for reduction applications from four to three months. The change reflects the EBA’s confidence that authorities have...
Industrialising the Challenge Process: AI in Operational Risk Scenario Analysis
Banks are moving operational risk scenario analysis from a regulatory back‑stop to a core forward‑looking tool for capital planning and resilience. Patrick Naim and Nedim Baruh argue that structured modelling—exposure, occurrence, impact (XOI)—turns narrative scenarios into parameterised loss generators. Yet...
ING’s Sustainable Finance Activity Jumps 28% in 2025
ING reported €166 bn of sustainable finance mobilised in 2025, a 28% increase year‑on‑year and surpassing its €150 bn annual target for 2027. The bank’s Q4 volume hit €56 bn, the strongest quarter, while green‑loan transactions rose 45% to become the top product...
ECB Holds Rate at 2% Amid War‑Driven Risks
#ECB leaves deposit rate at 2.00% as expected. Says war poses upside inflation risks, downside growth risks. Says to decide based on core inflation, transmission strength. Says not pre-committing to particular rate path. https://t.co/9tExdmlBDB
Risk and Strategy in Sponsor Banking
In this episode, Hatch Bank President Amanda Swarverland discusses the evolution of sponsor banking, sharing her journey from risk officer at Sunrise Bank to fintech executive at Unit and back to banking leadership. She highlights the strategic choices banks must...
The Rise of Digital Payments in Latin America
Digital payments in Latin America have surged, with electronic transactions tripling between 2019 and 2023 across six economies. Surveys show that in 16 of 17 countries, a majority now prefers cashless methods, driven by convenience, safety and a booming fintech...
Why Fintechs Are Transitioning From Partners to Principals in Banking
Fintechs are moving from reliance on partner banks to seeking their own banking charters, highlighted by three high‑profile applications in Q1 2026—Affirm, Payoneer and Upstart. Direct supervision by regulators, though demanding, promises operational certainty compared with fragmented licensing. The new charter...
Card Spending Rises 5% YoY, Gas Spikes 14%
BofA: Total card spending was up 4.9% y/y in the week ending Mar 14 while total card ex gas spending was also up a solid 4.3% y/y ... gas spending +14.4% YoY https://t.co/wW3Jif21Sp
Standard Bank Co-Arranges Bayport Mozambique’s Award-Winning Bond
Bayport Financial Services Mozambique issued a MZN 600 million dual‑tranche bond in October 2025, earning the Best Local Currency Bond – Financial Institutions award from Global Banking & Markets. Standard Bank acted as co‑arranger and bookrunner, guiding the structure and securing regulatory approvals....
Airwallex Invests $1.1B to Expand Across Europe
European fintech News: Airwallex commits $1.1 billion to European expansion, with Spain and Sweden in its sights. The cross-border payments company plans to invest significantly in Europe over the next five years, marking its most substantial push outside the Asia-Pacific...
Investec Provides £22m Loan for Greenridge’s Bristol Office Acquisition
Investec Bank has extended a £22 million committed loan to Greenridge Opportunities Fund to acquire and refurbish the 100,000‑sq‑ft 3 Temple Quay office building in Bristol. The 48‑month facility provides an initial tranche and a separate capital‑expenditure tranche to fund a...
India's New Income Tax Act 2025 and PAN Overhaul Set to Redefine Banking Transactions From April 1
India will replace the 1961 Income‑tax Act with the Income Tax Act, 2025 on April 1 2026, introducing ten key reforms that overhaul PAN reporting, cash‑transaction thresholds and HRA exemptions. The changes also mandate DOB proof for PAN applications after March 31, prompting...
Digital ID Wallets: How Banks Are Leading the Next Frontier in Secure, AI-Driven Financial Services
Banks are positioning themselves at the forefront of digital identity wallets, integrating AI-driven biometric verification to combat fraud. Industry analysts, like Lorena Roman of Raiffeisen Bank International, stress that collaboration among banks, regulators, and tech firms is essential for scaling...
POS Agents Made Cash Accessible. Now It’s Time to Rethink Them
POS agents have been vital for financial inclusion in Nigeria, providing cash access and basic banking services to the informal sector. However, rising fees and anti‑agent sentiment are eroding trust, as withdrawals through agents can now cost more than ATM...
HDFC Bank Chair’s Hostile Exit Leaves Board ‘Baffled,” Investors Confused
HDFC Bank’s chairman abruptly resigned under hostile circumstances, leaving the board perplexed and investors unsettled. The departure was announced without prior notice, sparking speculation about internal power struggles and governance lapses. Market reaction was muted but volatility rose as analysts...
KBRA Direct Lending Deals: News & Analysis – 3/16/2026
KBRA released its latest Direct Lending Deal (DLD) default indices covering the trailing twelve months through March 17, 2026. The new chart shows a modest uptick in default rates to 2.1% across the broader market, while senior secured deals remain...
Quantum-Ready Infrastructure Secures Future Payments
Today at #MPE2026 with my @chyppings hat on: Future-proofing Payments with Quantum-Ready Infrastructure' examining what quantum means for payments security, and what needs to happen next. 📍 19 March | 12:45–13:45 | Main Stage (Potsdam I) @mpecosystem #MPEBerlin #ILoveMPE https://t.co/bxOPVlv53L
Bloomberg: Leveraged Lending Insights – 3/16/2026
US leveraged loan issuance has stalled after a sharp February slowdown, with weekly launches falling from the $30 b levels seen in January to just $12.1 b through the week ending March 18. The dip reflects heightened market volatility that continues to deter...
Zopa Bank Continues Its Transformation with Further Growth
Zopa Bank added half a million new customers last year, bringing its total base to 1.7 million, and posted a 90% profit jump to £65 million. Sales rose 24% to £377 million and deposits grew 17% to £6.4 bn. The fintech‑turned‑bank leveraged its in‑house tech...
Early Paper Predicted Today’s Ambient Financial Accountability
Wow. Ten years ago. Birch, D., Brown, R. G., and Parulava, S. (2016). "Towards ambient accountability in financial services", Journal of Payments Strategy & Systems 10(2). https://t.co/HQRpD3fj8A https://t.co/Hpv4NOqOgE
HDFC Bank's Part-Time Chairman Resigns Citing Concerns over Practices
Atanu Chakraborty, part‑time chairman and independent director of HDFC Bank, submitted his resignation effective immediately. In his resignation letter, Chakraborty flagged alleged irregularities in the bank’s operational and governance practices. The departure comes amid heightened regulatory focus on Indian banks...
Inside India Newsletter: Gold Loans Are Thriving in India — and Attracting Global Investors
Indian households own roughly 34,000 tons of gold, valued at about $5 trillion, fueling a rapid expansion of gold‑backed lending. RBI data shows the gold‑loan portfolio more than doubled to ₹4 trillion in a year, making it the country’s largest retail loan segment...
HSBC Layoffs Soon? Wall Street Giant May Slash 20,000 Roles Amid AI-Led Overhaul, Says Report
HSBC is weighing a medium‑term AI‑led restructuring that could eliminate up to 20,000 roles, roughly 10% of its staff. The cuts would focus on non‑client‑facing middle and back‑office positions as the bank pursues a $1.5 billion cost‑savings target ahead of schedule....
India's New Income Tax Act 2025 Launches April 1, 2026 with Ten Overhaul Measures
The Indian government will replace the 1961 Income‑Tax Act with the Income‑Tax Act 2025 on April 1, 2026, introducing ten key reforms that tighten PAN reporting, raise cash‑transaction thresholds and expand HRA benefits. The changes aim to simplify compliance, boost tax transparency...
Strong AML Controls Are Meaningless with Incomplete Data
The Financial Conduct Authority is tightening anti‑money‑laundering oversight for law firms, demanding real‑time risk monitoring and integrated, up‑to‑date data. Recent FCA enforcement shows 68% of AML fines involved data shortcomings, totalling more than £430 m in penalties. Static, rule‑based controls are...
Tempo Mainnet Launches with AI and Finance Giants
Tempo mainnet is live. Anthropic, OpenAI, Shopify, Mastercard, and Visa are already on it. 🏦 https://lnkd.in/eiRhP6rS
Private Lending: Unfolding Litigation Developments and Managing Risks
Private lending faces heightened scrutiny as economic uncertainty fuels investor withdrawals and valuation disputes. Recent federal indictments under the Continuing Financial Crimes Enterprise statute target senior executives for multi‑billion‑dollar fraud schemes, while the SEC has settled civil actions over inadequate...
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The Fed's 2026 Outlook Just Shifted—And It Looks Like Good News for Savers
The Federal Reserve kept its benchmark rate unchanged for a second straight meeting, citing persistent inflation and heightened geopolitical uncertainty. The latest dot‑plot shows a dramatic shift, with roughly 75% of officials forecasting little or no rate movement through 2026...
Bitcoin Depot’s ATMs Face Compliance-Related Ban in Connecticut
Bitcoin Depot, the world’s largest crypto‑ATM operator, had its Connecticut money‑transmission license suspended after regulators identified compliance breaches. The state found more than 1,000 instances where fees exceeded the legal 15% cap, resulting in roughly $150,000 in excess charges. Additionally,...
Mortgage Rates Move Back Up Near Recent Highs
Mortgage rates rebounded Wednesday, climbing to the highest levels seen in several months after three rapid repricings. A stronger-than-expected Producer Price Index lifted inflation expectations, while a $6 jump in crude oil pushed bond yields higher. Fed Chair Jerome Powell’s...
OCC Ends Restrictions on 4 Banks
The Office of the Comptroller of the Currency announced the termination of enforcement actions against four community banks—Heritage Bank, 1st National Bank, Slovenian S&LA, and Touchmark National Bank. Each institution had been subject to consent orders or formal agreements addressing...
Community Bank CFO Convicted of Trying to Defraud Two Lenders
Former Bank of the Valley CFO Aaron Luneke was convicted of bank fraud and attempted fraud after securing $7.8 million in loans using fabricated contractor invoices. The scheme defrauded his own Nebraska bank ($4.3 million) and Minnesota’s Stearns Bank ($3.5 million) through shell...
Agentic AI Shopping Bots Are Coming. Banks Need to Be Ready
Agentic AI shopping bots from firms like Google, Amazon and Visa are poised to execute purchases and payments on behalf of consumers, thrusting banks into a new risk landscape. Existing charge‑back rules under Reg E and Reg Z may not apply, leaving...
Trump Push on RON Faces Real-World Limits
President Trump’s executive order pushes for broader use of digital mortgages, electronic signatures and remote online notarization (RON). While RON is already permitted in 48 states, many jurisdictions retain temporary authorizations and lenders balk at the extra cost of parallel...
Elavon Picks BofA Vet Wally Mlynarski as CEO
Elavon, the U.S. Bank‑owned payments processor, has appointed Wally Mlynarski as its new chief executive. Mlynarski arrives from Bank of America, where he oversaw merchant services and receivables, and previously spent seven years at U.S. Bank supporting Elavon in roles...
More Americans Than Ever Are Relying on Personal Loans. Here’s What You Need to Know
Personal loan usage hit a record high in 2025, with nearly four in ten U.S. adults holding an unsecured loan, according to Experian. The total number of personal loans rose 7% year‑over‑year to 67.5 million, and the average balance sits at...
Token.io Unveils Account on File, Enhancing Pay by Bank
Token.io launched its Account on File feature, enabling Pay by Bank users to store a preferred bank and account as default for future transactions. The functionality removes up to two checkout steps, turning the experience into a one‑tap flow for...
Huawei and YowPay Launch Open Banking Smartwatch POS App
Huawei and fintech YowPay have introduced what they call the world’s first open‑banking smartwatch point‑of‑sale (POS) application. The solution lets merchants capture bank‑to‑bank payments directly from a Huawei smartwatch, removing the need for traditional card terminals or card‑based hardware. Built...
Banks Leave Nonprofit Lending Market Untapped, Fintech CEO Says
The U.S. nonprofit sector controls nearly $14 trillion in assets and generates about $4 trillion in annual revenue, yet only 3 % of banks lend to these organizations. Fintech startup B Generous has created a marketplace that has processed 34,000 loan requests totaling $1.2 billion...
Ken Griffin and Goldman Properties Land $118M for Wynwood Office
Ken Griffin and Goldman Properties secured a $118 million loan from J.P. Morgan Chase to finance 545 Wyn, a 10‑story office tower in Miami’s Wynwood district. The duo purchased the 499,370‑square‑foot asset for $180 million in January, just three months after acquiring it. The...
AI Agents Poised to Capture Up to 25% E‑Commerce
J.P. Morgan & Mirakl Nexus Unveil AI Agent Checkout A first-of-its-kind solution designed to enable secure AI agent checkouts for enterprise merchants. J.P. Morgan’s tokenization and fraud protection to allow agents to move from "browsing" to "buying" within a regulated framework....
FCA Call for Input – Understanding How Our Regulation Can Help SMEs Access Finance
On 18 March 2026, the UK Financial Conduct Authority issued a Call for Input inviting stakeholders to comment on how regulation can improve small and medium‑sized enterprises’ access to finance. The FCA aims to identify regulatory barriers that raise costs...
New Zealand’s Regulators Expand Open Banking Efforts
New Zealand’s financial regulators are extending their open‑banking agenda beyond the December rules, mandating standardized APIs that let approved fintechs access customer data with consent. The reforms aim to tighten security, curb screen‑scraping, and create a level playing field that...
Bank AI Advances, yet Human Support Stuck on Hold
Debit card eaten by ATM after 2 incorrect PINs. I have been 17 min deep in phone hell: 'All agents busy, please hold...' repeat forever. Agentic AI can reason & act autonomously, but my bank's hold music can't even connect me to...
Blackwired’s ThirdWatch: Powering Operational Resilience with Cyber Intelligence
Blackwired’s ThirdWatch platform aims to transform cyber‑threat intelligence into actionable operational‑resilience insight for financial institutions. It addresses the systemic risk exposed by the 2023 MOVEit Transfer breach, where a single third‑party vulnerability compromised hundreds of firms. Leveraging Direct Threat Intelligence,...