Wells Fargo to shrink workforce by up to 10 percent

Wells Fargo & Co. CEO Tim Sloan announced on Thursday in a companywide town hall meeting that the company will trim 5 percent to 10 percent of its total employee base over the next three years. Currently, Wells Fargo employs 265,000 team members, which means that the company expects to reduce its headcount by as much as 26,500.

Computer programmer who enabled Target breach sent to prison for 14 years

A computer programmer from Latvia will serve 14 years in prison for his role in helping to hackers to design malware that was used to carry out the Target data breach in late 2013. According to a report by the...

Indian CITs say RBI rules raise 'sudden uncertainty over their very existence'

Cash-in-transit firms in India have said that new criteria set by the Reserve Bank of India could very well put them out of business. At least a dozen carriers have said that it will be impossible to meet new RBI...

Fiserv to acquire ATM-related units of Elan Financial Services

Rumors of the sale of all or part of Elan Financial Services were resolved today with the announcement by Fiserv Inc. that it will acquire the debit card processing, ATM managed services and MoneyPass surcharge-free network of the U.S. Bancorp-owned...

Diebold Nixdorf captures top 10 spot on IDC fintech list

Diebold Nixdorf has ranked sixth among the top 100 financial technology companies in the 15th annual 2018 IDC Financial Insights FinTech Rankings, according to a company press release. The list ranks providers based on 2017 calendar year revenue attributed to...

PayPal closes purchase of iZettle

On Thursday, PayPal Holdings Inc. completed its acquisition of mobile payments provider iZettle for approximately $2.2 billion.

3 California CUs choose Dolphin Debit for ATM management

Three California credit unions have selected Dolphin Debit, a full-service ATM management company, to operate their ATM fleets, according to a company press release. The three are: San Jose-based Pacific Postal Credit Union, founded in 1931, a 14,186-member institution with...

Virtual FI Radius Bank expands client access to fee-free ATMs with MoneyPass

Radius Bank, a full-service virtual financial institution with headquarters in Boston, has expanded client access to fee-free ATM withdrawals nationwide through an agreement with national interbank network provider MoneyPass, a division of Elan Financial Services. According to a press release,...

Zytronic, Cryptera intro ATM touch screen with PCI-compliant PIN entry

Zytronic, a provider of projected capacitive technology touch sensors, announced that a new version of its customized touchscreen is available to support secure PIN entry applications via the company's development partner, Cryptera. Image courtesy of Zytronic According to a press...

Saudi Arabian bank claims 'first' with contactless ATM access

Saudi Arabia's Alinma Bank has introduced contactless NFC withdrawals at selected Alinma ATMs, making it the first FI in the kingdom to offer contactless capability at ATMs. "With NFC ATM withdrawals, we continue to meet and exceed partner expectations," Alinma...

14 new associates join EMVCo payment technology innovation program

Global technical body EMVCo has welcomed 14 associate organizations to its program of cross-industry collaboration for the development of EMV specifications. The EMVCo Associates Program allows global payment industry stakeholders including card or terminal manufacturers, processors, banks, payment systems, mobile...

NatWest, G4S partner to test UK's 'first intelligent cash management solution'

NatWest and G4S are working toward a pilot test later this year of what the companies describe as the "U.K.'s first intelligent cash management solution." For the pilot, G4S will provide the integrated solution — including equipment, software and services...

People's United Bank taps Zenmonics for omnichannel digital account acquisition platform

Bridgeport, Connecticut-based People's United Bank has tapped Zenmonics, provider of an omnichannel banking platform to transform digital account acquisition for the bank's branch and digital channels. Zenmonics will deploy its channelUnited universal account opening and banker sales and servicing modules...

Co-op Financial Services donates to CUAid, Florence clean-up effort

Co-op Financial Services is donating $10,000 to CUAid, a relief effort organized to help credit unions and their members in the Carolinas as they work to recover from Hurricane Florence. "Hurricane Florence reminds us that natural disasters can come upon...

US banks pull together in hurricane's wake with ATM and loan fee relief, charitable donations

In the aftermath of Hurricane Florence, financial institutions across the U.S. are pitching in with donations and other relief efforts to help storm victims in the Carolinas rebuild homes and lives. Here's a partial list: Bank of America Corp. Charlotte-based...

Alogent, DefenseStorm integrate digital, self-service banking solutions with cybersecurity, fraud protection

Alogent, a provider of end-to-end payment processing, content management and digital account opening solutions for financial institutions, has partnered with DefenseStorm, a provider of cloud-based cybersecurity and cybercompliance solutions for banks and credit unions. "With financial institutions of all sizes...

Network alliance expands Discover reach at ATM, POS locations in Mexico

Discover Financial Services and Promoción y Operación S.A. de C.V., a payment solutions provider and domestic payments network in Mexico, have formed a strategic network alliance to expand Discover Global Network acceptance in Mexico. Discover, Diners Club International, Pulse and...

US consumers value cash convenience over credit card points for small purchases

For purchases of less than $10, American consumers still prefer folding money. The tipping point for plastic is around the $25 mark, according to new research from CreditCards.com. The company found that 45 percent of U.S.

ATM Industry Career Center goes live

The ATM Industry Association has announced that its ATM Industry Career Center is now live and accessible from the ATMIA website home page. According to an ATMIA press release, the center is the first resource of its kind for the...

FDIC letter encourages ATM fee, cash limit waivers for hurricane victims

The FDIC has circulated a letter encouraging depository institutions to consider "all reasonable and prudent steps" to assist customers in communities affected by Hurricane Florence. According to the letter, such efforts by depository institutions to meet customers' cash and financial...

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