Absa Ramps up IT Spend to R16.7bn
South African bank Absa increased its IT spend by 6% to R16.7 billion, targeting new digital infrastructure, cyber security, data and cloud capabilities. The bank posted a 12% rise in headline earnings and a 5% increase in revenue, while digitally active customers grew to 5.4 million and the total base reached 13.1 million. Growth was driven by strong performance in Africa regions, robust non‑interest income, and cost‑optimisation savings of R3.1 billion. Management highlighted strategic priorities and operational efficiency as pillars for future growth.
Are We Ready for a World without Cash?
The article examines India’s shift toward a cash‑light economy driven by UPI’s explosive growth. In December 2025 UPI recorded 21.6 billion transactions worth Rs 28 lakh crore, and in FY25 it accounted for over 83% of payment volume, pushing digital retail payments to...
Open Banking Presents £43bn Opportunity for UK Economy if Warnings Are Heeded
Open banking is projected to generate £43 bn a year for the UK economy when fully mature. Research commissioned by Open Banking Limited and conducted by EY shows the sector has already delivered £8.2 bn in benefits, with an expected £7.4 bn annual...
Mastercard Brings Agentic Payments to Life in Singapore with DBS and UOB
Mastercard completed its first live, authenticated agentic payment in Singapore, partnering with DBS and UOB. An AI‑driven agent used Mastercard Agent Pay to book a hoppa ride to Changi Airport, leveraging tokenised credentials and Payment Passkey consent. The transaction moves...
Mobile Banking Malware Surge and Supply Chain Vulnerabilities Examined in New Report
Cybersecurity firm Kaspersky reported a 56 percent jump in Android banking trojan detections in 2025, accompanied by a 271 percent surge in unique malicious APKs, now exceeding 255,000. The report also found that supply‑chain attacks affected 31 percent of surveyed organizations, rising to...
How to Invest: What Are the Risks of Leaving Your Money on Deposit?
Irish household wealth has hit a record €724,000 per family, yet 38 percent of assets sit in low‑yield deposits. The Central Bank reports Ireland has one of the lowest investment participation rates in Europe, with only about 2.3 percent in equities and...
Bangkok Bank Ditches Planned Minimum Balance for Digital Accounts
Bangkok Bank announced it will indefinitely postpone the April 9 rollout of a 2,000 baht minimum‑balance requirement for its e‑Savings and Extra Digital accounts. The rule was intended to block scammers from using low‑balance accounts as money‑laundering mules. Senior executive Chaiyarit Anuchitworawong...
Friends Are Now Joining Bank Accounts. There Are Risks, but Stephanie Has Found Reward
Australian influencers are popularising shared bank accounts between friends, a practice once limited to couples or family. Stephanie Leahy and housemate Phillip Gow have been using Up Bank’s “2Up” joint account since 2021 to pool income, track expenses and allocate...
U.S. Reaches Tentative Deal Ending Prosecution of Turkish Bank
The Trump administration has reached a tentative agreement to dismiss criminal charges against Turkey’s state‑run Halkbank, which prosecutors accused of moving roughly $20 billion in sanctioned Iranian funds. The deal links the dismissal to Turkey’s instrumental role in negotiating the release...
China’s Financial Superpower Ambitions Get Legal Backing at ‘Two Sessions’
China announced at the 2026 Two Sessions that it will draft a comprehensive financial law and a dedicated financial stability law within the year. The measures aim to cement the yuan’s global role, expand green‑finance frameworks, and formalise risk‑control mechanisms....
Why ARMs Are Rising Even as Rates Drift Lower
Adjustable‑rate mortgage (ARM) originations climbed in 2025 despite falling 30‑year fixed rates, reaching a 20.5% share of conventional volume, the highest in three years. The 5/1 ARM remained about 80 basis points cheaper than the fixed‑rate benchmark, saving borrowers roughly...
Visa Enhances Payments Orchestration Tools for Merchant Acquirers
Visa has launched its Intelligent Authorization platform for merchant acquirers across the Asia‑Pacific region. The solution offers a single‑API pathway that leverages Visa’s card‑network infrastructure, allowing banks to forego building dedicated processing stacks. Integrated AI routing selects the most cost‑effective,...
OSFI’s Fast Track Framework Is a Wake-Up Call for Canadian Banks
The Office of the Superintendent of Financial Institutions (OSFI) has unveiled a Fast‑Track framework designed to streamline approvals for new banking and bank‑like activities in Canada. The new rules clarify capital, liquidity and supervisory expectations for deposit‑taking, credit‑card issuance, mortgages...
Modern Payments Infrastructure Is the New Battleground for Growth
Payments infrastructure has moved from a back‑office function to a strategic growth lever, as platforms relying on legacy systems face higher friction, cost, and slower revenue realization. TSG and Payforge’s new whitepaper argues that modernizing payment stacks is essential to...
Loandepot Adds Wholesale Production 3 Years After Exit
Loandepot announced its return to the wholesale mortgage origination channel, a move it had abandoned in August 2022 after a $224 million Q2 loss. CEO Anthony Hsieh, now acting CEO, says the comeback leverages the joint‑venture shared‑services platform to drive profitable...
Syndicator Lender Ready Capital Takes Massive Hit
Ready Capital posted a $232 million loss for the fourth quarter, an improvement from a $314 million loss a quarter earlier, as it restructures a $1.5 billion commercial‑real‑estate loan portfolio. Non‑accrual loans surged to 25% of the book, roughly $1.3 billion, driven by a...
EU’s Regulated Blockchain Securities Market Adds First Bank Participant
Amina, a Swiss‑regulated crypto bank, became the first fully regulated bank to join 21X, the EU’s pilot blockchain‑based securities trading and settlement venue. The partnership with Tokeny enables Amina to sponsor listings of tokenized securities on the platform, tackling interoperability...
Premium Cards Battle Escalates as Credit Balances Rise
Consumer credit expanded at a 1.9% annualized rate in January, with revolving balances rising 4.3% despite a modest slowdown. Premium‑fee cards, many charging over $600 annually, are witnessing heightened competition as fintechs like Robinhood and Revolut join incumbents. Research shows...
Elite Option Experts / eliteoptionexperts.com – Financial Conduct Authority | FCA
The UK Financial Conduct Authority (FCA) has issued a public warning about Elite Option Experts, operating at eliteoptionexperts.com, for offering unauthorised investment services. The regulator flagged the site as non‑compliant, highlighting that it is not authorised to provide financial advice...
Bison Bank Integrates Elliptic’s AI Analytics to Supercharge Digital Asset Compliance
Lisbon‑based Bison Bank has partnered with blockchain analytics leader Elliptic to embed the firm’s AI‑powered “copilot” into its digital‑asset subsidiary, Bison Digital Assets. The integration enables real‑time monitoring of more than 1,000 crypto tokens and automates data collection, fund‑flow analysis,...
Lower Mortgage Rates Boost Refinancing While Purchase Activity Slows
Mortgage applications rose 1.5% month‑over‑month as the 30‑year fixed rate slipped to a three‑year low of 6.14%, driven by a decline in the 10‑year Treasury yield. Refinancing activity surged 11.3%, while purchase applications fell 12.3% amid tight inventory and winter...
Coinbase CEO Highlights UK Regulatory Risks as US Stablecoin Framework Advances and Global Adoption Surges
Coinbase CEO Brian Armstrong warned that proposed UK stablecoin caps could erode the country’s fintech edge, while the United States has moved ahead with the GENIUS Act, establishing the first federal framework for payment stablecoins. The legislation mandates 100% reserve...
ICBA Adds Jack Henry to Preferred Program and Other Digital Transactions News Briefs From 3/9/26
Jack Henry & Associates’ anti‑fraud solution, Financial Crimes Defender, has been added to the Independent Community Bankers of America’s Preferred Service Provider program. Affiniti Finance secured a financing agreement with Column N.A. to accelerate its corporate‑card and banking services for...
EQB Nears Takeover of PC Financial Arm After Competition Bureau Approval
EQB Inc. received Competition Bureau clearance to acquire President’s Choice Bank and related PC Financial assets from Loblaw, moving the deal closer to completion. The transaction still requires sign‑off from the Office of the Superintendent of Financial Institutions and the...
Pakistan Passes Virtual Assets Act, Creates Regulator for Digital Asset Sector
Pakistan's parliament approved the Virtual Assets Act 2026, creating the Pakistan Virtual Assets Regulatory Authority (PVARA) to license and supervise cryptocurrency service providers. The authority, initially formed by a 2025 presidential ordinance, now has permanent legal standing. PVARA will enforce...
CRC Launches Upgraded Mobile App to Expand Access to Credit Data
CRC Credit Bureau launched an upgraded mobile app that streamlines access to credit data, financial services, and digital transactions for Nigerians. The new version adds biometric authentication, a built‑in wallet, and direct enrollment in CRC’s financial education programmes. The bureau...
Filippo Chiricozzi on Web3, Digital ID and the Future of Finance
Filippo Chiricozzi, DLT & Digital Identity Lead at Banca Sella, is steering the bank’s push into Web3, cryptocurrencies, and the metaverse while focusing on digital identity solutions. The bank is aligning with European initiatives such as the Digital Identity Wallet...
9PSB Reinforces Commitment to Financial Inclusion with ‘Send to Ghana’
Nigeria’s first Payment Service Bank, 9PSB, has unveiled a new cross‑border feature called Send to Ghana on its Bank9ja app. The service, built on Onafriq’s technology and the Pan‑African Payment and Settlement System (PAPSS), is regulated by the Central Bank...
'Carpetbagging' Out of State Banks Are a Drain on Florida's Resources
Florida’s rapid population growth is straining highways, schools, and water systems while driving an acute affordable‑housing crisis. Out‑of‑state and branchless banks are harvesting more than $200 billion in deposits from Floridians but reinvest only a fraction locally, exacerbating the shortage of...
Top US Banks Weigh Suing Federal Regulator over Crypto Banking Rules
The Bank Policy Institute (BPI), representing major lenders such as JP Morgan, Goldman Sachs and Citigroup, is weighing a lawsuit against the Office of the Comptroller of the Currency (OCC) over its new national trust charter framework for crypto, payment and fintech...
Morgan Stanley Says This Undervalued Brazilian Digital Bank Can Double
Morgan Stanley launched coverage of Brazil’s digital lender Agibank, assigning an overweight rating and a $21 price target that suggests roughly 100% upside from its recent IPO price of $12. The analyst team highlighted the bank’s deep discount to peers...
Why Financial Crime Risk Assessments Matter for Governance
Financial crime risk assessments are positioned as the cornerstone of a bank’s AML and CTF framework, providing both diagnostic insight and a roadmap for control enhancements. Regulators treat them as the structural foundation of compliance, while board members rely on...
New Briefing Note: PSD3 and PSR: From Provisional Agreement to 2026 Readiness
The European Commission has reached a provisional agreement on the Payment Services Directive 3 (PSD3) and the accompanying Payment Services Regulation (PSR), setting a roadmap toward full implementation by 2026. The new rules broaden the definition of payment service providers, tighten...
Capitec’s Innovation Enables Smart ID Access at Scale
Capitec has launched an in‑branch Smart ID service in partnership with South Africa’s Department of Home Affairs, deploying self‑service terminals that let clients apply for a Smart ID in under five minutes. The pilot has moved to a phased national rollout, targeting...
It's a Wonderful Life (as Long as You've Got a Job)
A new Federal Reserve study of U.S. bank failures from the Civil War through 1934 finds that bank runs are typically the final trigger for already insolvent institutions, while well‑capitalized banks can weather runs. Meanwhile, the latest macro data show...
Navi Technologies Swings to Red with Rs 126 Cr Loss in FY25
Navi Technologies posted an Rs 126 crore loss for FY25, a marked improvement from the Rs 358.5 crore loss a year earlier, despite an 18% jump in revenue to Rs 2,565 crore. Interest income, which makes up 85% of total revenue, rose 21% while other income...
HELOC and Home Equity Loan Rates Monday, March 9, 2026: Got a Low Rate? Now Consider This.
Home equity line of credit (HELOC) rates average 7.20% and fixed home‑equity loan rates 7.47% for borrowers with 780+ credit scores and CLTV under 70%. Rates vary widely, with some lenders offering introductory HELOC rates as low as 5.99% for...
Best Money Market Account Rates Today, March 9, 2026 (Earn up to 4.01% APY)
Money‑market accounts are still delivering double‑digit yields, with TotalBank Online topping the list at 4.01% APY for balances of $2,500 or more. Several online banks and credit unions, including Quontic, Brilliant Bank and Northern Bank Direct, offer 4% APY, while...
Best High-Yield Savings Interest Rates Today, March 9, 2026 (Earn up to 4% APY)
High‑yield savings accounts are offering up to 4 % APY as of March 9, 2026, with SoFi and Valley Bank Direct leading the market. The Federal Reserve’s three rate cuts in 2025 have pushed overall deposit rates lower, making premium yields increasingly scarce....
Mortgage and Refinance Interest Rates Today, March 9, 2026: Moving Higher with Bond Market Anxiety
Mortgage rates rose on March 9, with the average 30‑year fixed climbing to 5.98% and the 15‑year fixed to 5.50%, driven by bond market anxiety from Middle East tensions and a weak jobs report. Refinance rates are higher, with the 30‑year...
Why Do Banks Fail? Study Finds Insolvency Is the True Killer
A new NBER study of over 4,000 bank runs from 1863‑1934 finds that insolvency, not liquidity, is the primary driver of bank failures. Solvent institutions rarely collapsed even when faced with massive withdrawals, while loss‑making banks turned runs into terminal...
Top AML and Identity Verification APIs for Compliance in 2026
Financial institutions are turning to AML and identity verification APIs to meet escalating regulatory demands and combat sophisticated fraud. In 2025, FBI reports over 5,100 account‑takeover complaints costing more than $262 million, underscoring the urgency. Providers such as AiPrise, ComplyAdvantage, Sumsub,...
PAY360 2026: Shaping the Future of Payments
PAY360 2026, the premier global payments conference, will be held on 24–25 March 2026 at ExCeL London. The event expects more than 6,000 innovators, thought leaders and industry stakeholders, with over 200 speakers covering topics such as crypto, open payments,...
Land Bank Tightens Security After Ransomware Attack
The Land and Agricultural Development Bank of South Africa confirmed a ransomware attack on 12 January 2026 that encrypted parts of its server environment and several laptops. The breach entered through a vulnerable internet‑facing server, but the bank’s core banking, ERP and...
Novobanco Partners Feedzai to Modernise AML and Fraud
Novobanco has entered a multi‑year partnership with Feedzai to overhaul its anti‑money‑laundering (AML) and fraud defenses using Feedzai’s AI‑native platform. The initiative consolidates fragmented compliance tools into a single, intelligence‑driven system that merges KYC, AML and fraud functions. Advanced watchlist...
Share Buyback Programme - Week 10
Ringkjøbing Landbobank reported its week‑10 share buyback results, repurchasing 127,500 shares at an average price of DKK 1,642, amounting to DKK 209.4 million. The cumulative buyback now totals 1,235,647 shares, representing 4.87% of the bank’s share capital. The programme, approved on 30 January 2026, allows...
Robinhood Unveils $695 Platinum Credit Card Made With Real Platinum to Target Affluent Users
Robinhood announced a new premium credit card priced at $695 annually, crafted from real platinum. The card is aimed at the platform's affluent clientele and bundles higher rewards, concierge assistance, and travel protections. By introducing a tangible luxury product, Robinhood...
Broadridge’s DLR Platform Processes Average of $362bn in Daily Repo Transactions in Feb 2026
Broadridge Financial Solutions reported that its Distributed Ledger Repo (DLR) platform processed an average of $362 billion in daily repo transactions in February 2026, amounting to $6.9 trillion for the month. This represents a 457% year‑over‑year increase, underscoring rapid institutional adoption of...
Swiggy, HDFC Bank Launch Two New Co-Branded Credit Cards with up to ₹48,000 Annual Savings
Swiggy and HDFC Bank introduced two co‑branded credit cards—the Swiggy BLCK and Swiggy Ornge—on March 7, expanding a partnership that began in 2023. The BLCK card targets premium spenders with 10% cashback on Swiggy orders and up to 5% on entertainment,...
Banc of California Makes a Payments Push
Banc of California is accelerating its payments strategy by hiring industry veteran Chris Healy to lead its merchant acquiring platform, BancEdge. The bank aims to broaden the platform across existing and new commercial clients, emphasizing real‑time, AI‑driven payment capabilities. Healy’s...