Cross River Bank CDs Can Be Opened By Email/Phone

Deal Summary: 24-month CD, 2.10% APY, $500 minimum balance. Availability: CDs can now be opened through a combination of email, fax, and phone calls. A long-time DA reader emailed me with some good news about opening a CD at New Jersey-based Cross River Bank. Now, due to Coronavirus, you can open an account and CD by email and bank transfer.…

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Transforming corporate treasury: What lies ahead and what is the impact of Swift gpi?

The future of corporate treasury today is umbilically linked to the future of cash management: Swift gpi proves it. The global payment visibility the standard brings, in addition to its speed and high data quality, is completely transformative for international cross-border settlements. Gpi accomplishes this by resolving many of the frustrations that have existed for decades in the global payments…

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What the Fintech? Episode 2 | COVID-19: Is cash still king?

The second episode of What the Fintech? comes to you from London in lockdown. Like many of our international audience, the team are working from home, but a little self-isolation won’t stop us from bringing you brand new episodes thanks to remote recording, great guests and stimulating discussions. On this episode, we welcome Nick Kerigan, the former managing director for…

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Revolut loses its head of wealth and trading, a former Freetrade co-founder

Revolut’s head of wealth and trading André Mohamed has left the challenger bank just nine months after it launched its stock trading feature, Financial News reports. André Mohamed Mohamed joined Revolut in November 2018, after co-founding rival UK trading app Freetrade. He left Freetrade just weeks after the company launched its first ‘zero-fee’ app due to a difference in philosophy…

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TSB’s online and mobile banking goes down on April Fools

TSB’s online and mobile banking went down for some customers on Wednesday, and it wasn’t an April Fools. First reported by The Mirror, the bank did not officially acknowledge the outage, but did reply to specific customers who had complained they could not access the bank’s mobile or web app. The bank has not explained the cause of this “error”…

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UK fintech Tully helps distribute COVID-19 payment relief

Tully, the UK-based financial management app operated by open banking provider OpenWrks, has launched a new initiative to help Brits get access to payment relief as COVID-19 continues to disrupt daily lives. “It is more important than ever to collaborate,” says Tully The fintech estimates that 17 million people in the UK have been financially impacted by the coronavirus It…

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Prime Alliance Bank Liquid Accounts Still Competitive

Deal Summary: Personal Savings, 1.71% APY ($10k), 1.61% APY ($1); Personal Money Market, 1.71% APY ($10k), 1.61% APY ($1). Availability: Nationwide through online application. Utah-based Prime Alliance Bank (Prime Alliance) is the latest financial institution to lower the rates on its savings and money market accounts. The Personal Savings and Personal Money Market accounts were both lowered by 25 bps…

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Siam Commercial Bank partners Azimo for money transfers from Europe

Thailand’s Siam Commercial Bank (SCB) has signed a partnership agreement with money transfers firm Azimo. Azimo’s SCB deal follows a similar one from it’s new partner Ripple Under the terms of the agreement, Azimo will deliver customer payments from Europe to SCB bank accounts in Thailand. The new service will use PromptPay, a real-time clearing and settlement infrastructure that enables…

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Colt to underpin connectivity at Taiwan’s major exchanges

Colt Technology Services has announced that it will be providing full hosting for three Taiwanese exchanges in the wake of the Taiwan government’s introduction of continuous trading. TWSE implemented continuous trading in March The Taiwan Stock Exchange Corporation (TWSE), Taiwan Futures Exchange (Taifex) and the Taipei Exchange (TPEx) are underpinned by Colt infrastructure. Colt is providing server rack space, hardware…

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Is now the right time for banks to resume small-dollar lending?

WASHINGTON — Despite regulators’ appeal for banks to make small-dollar loans available to those hurt by the coronavirus pandemic, the debate still rages over whether financial institutions should compete on the turf of less traditional lenders. Last week, the Federal Reserve, Consumer Financial Protection Bureau, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union…

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The return of humanity in the digital era

Highlighting the positive impact of the current situation and how our past was not necessarily better Not long ago… Being at home for dinner together as a family or with a group of friends was a rarity, and when it did happen, right next to the knife and fork would be our phone. A rare call to parents, but generally…

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Emergency loan program plagued by chaos on eve of launch

Bankers are raising concerns about the emergency loan program for businesses hurt by the coronavirus outbreak, saying on the eve of its launch that parts of the program are unclear and onerous. The Paycheck Protection Program, run by the Small Business Administration and the Treasury Department, was set to roll out Friday. It is authorized to back $349 billion in…

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Home lenders brace for up to 15 million mortgage defaults

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: mass foreclosures and mortgage market mayhem. Borrowers who lost income from the coronavirus — already a skyrocketing number, with a record 10 million new jobless claims — can ask to skip payments for as…

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