July 10, 2025
| Today’s news and insights for banking industry leaders
Andrew Jensen joined the Canadian lender last year as global head of sanctions. Jensen will maintain those duties, too, when he moves into his new role Monday.
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Wayne Bank, a subsidiary of Norwood Financial Corp., will expand its footprint into central and southeastern Pennsylvania with the acquisition of Presence Bank.
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Wise allegedly failed to provide for frequent independent review of its anti-money laundering program. Regulators also found deficiencies in the investigation and reporting of suspicious activity.
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Hidden vendor vulnerabilities can derail operations. Get the playbook built for risk leaders in banking to strengthen third-party oversight.
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Despite increased regulatory scrutiny of banking-as-a-service, over half of the surveyed community bank respondents are considering implementing BaaS or embedded banking solutions.
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BNY custodies two other stablecoins – Circle’s USDC, since 2022, and SocGen’s USD CoinVertible, since June.
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This is the 10th financial crime control failings-related fine imposed by the FCA in the last four years, and follows a similar action against fellow U.K. neobank Starling last year.
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Banks that fail to provide personalized, proactive financial wellness offerings risk losing customers to competitors who can deliver the contextual, data-driven insights today’s consumers expect.
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