Latest news with #financialaccess
Yahoo
01-07-2025
- Business
- Yahoo
DirectPay and iXchange Expand Cash Access in Greece Through NCR Atleos
ATLANTA, July 01, 2025--(BUSINESS WIRE)--NCR Atleos Corporation (NYSE: NATL) ("Atleos"), a leader in expanding self-service financial access for financial institutions, retailers and consumers, today announced that DirectPay and iXchange will utilize Atleos' owned and operated ATM platform (the Cashzone Network) in Greece to allow consumers to reliably, conveniently, and securely access cash. DirectPay is a leading financial and payments services provider with more than 1,300 agent locations throughout Greece, offering MoneyGram money transfers, bill payments, cash-to-bank deposits, and a full suite of financial services. iXchange offers its customers services including foreign currency exchange, money transfers, bill payments, and more. Both companies are part of the same group. "Our goal has always been to make financial transactions simple, accessible, and secure for all," explained Panos Spiridakos, Managing Director of DirectPay. "Atleos' Cashzone Network is recognized for its robust security, advanced capabilities, and reliable uptime, features that will help us maintain optimal service levels and customer satisfaction, while also creating new revenue opportunities and operational efficiencies." "We have remained committed to providing our customers with seamless, reliable interactions to maintain trust and loyalty," explained Giannis Kontis, Managing Director of iXchange. "By implementing Atleos' ATMs, consumers gain a dependable, secure way to withdraw cash and conduct their tasks with convenience and ease. At the same time, our employees are able to operate more efficiently, saving time to assist customers with more complicated transactions." "The European Central Bank (ECB)'s latest consumer payment behavior study "2024 SPACE" tells us that Greek consumers look to ATMs for their cash more than any other channel and any other Eurozone country and at the same time cite access to cash as a challenge," explained Ben Bregman, Senior Vice President, Global Network Solutions for Atleos. "By expanding access through the Cashzone Network, DirectPay and iXchange offer a secure, efficient, and easy-to-use cash access platform within familiar retail environments, reducing consumer friction in accessing their accounts and growing loyalty." About Atleos Atleos (NYSE: NATL) is a leader in expanding self-service financial access, with industry-leading ATM expertise and experience, unrivalled operational scale including the largest independently-owned ATM network, always-on global services and constant innovation. Atleos improves operational efficiency for financial institutions, drives footfall for retailers and enables digital-first financial self-service experiences for consumers. Atleos was ranked #12 in Newsweek's prestigious 2025 Top 100 Global Most Loved Workplaces® list. Atleos is headquartered in Atlanta, Ga., with approximately 20,000 employees globally. For more information, visit View source version on Contacts Media Contact Scott SykesNCR
Associated Press
24-06-2025
- Business
- Associated Press
Carver Bancorp, Inc. Rings Nasdaq Opening Bell Celebrating Juneteenth, Elevating the Role of Community Banks in Serving Main Street
NEW YORK, June 24, 2025 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), a community bank committed to meeting the financial needs of everyday New Yorkers, rang the Nasdaq Opening Bell on June 20, 2025, in celebration of Juneteenth. Carver's board members, employees, and community partners gathered to mark the occasion and reflect on the Bank's longstanding commitment to addressing barriers to financial access and its service to historically under-resourced communities. The event came a few weeks after Carver President and CEO Donald Felix participated in a roundtable discussion led by U.S. Treasury Secretary Scott Bessent in New York City. The conversation focused on how community banks—especially those designated as Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs)—can drive small business growth, promote household financial wellness, and anchor Main Street prosperity. During the Nasdaq ceremony, Carver President and CEO Donald Felix offered the following remarks: 'It's a tremendous honor to be here this morning at Nasdaq—here in New York City, the financial capital of the world—and especially meaningful to ring the Opening Bell in honor of Juneteenth. This day reminds us all of the strength, sacrifice, and progress woven into the fabric of the American story. This story belongs to all of us. As a day centered on the freedoms we all enjoy as Americans, it is also a day that calls on all to continue the work of expanding access and opportunity. Carver was founded in 1948 by visionary community leaders, both men and women, from Brooklyn and Harlem who understood the power of financial access and the freedoms that it creates. The everyday freedoms of owning a home, starting a business, and building up our communities. Our founders established a bank to serve those historically excluded from the financial system—a mission that remains just as critical today. At Carver, we have expanded on that mission, and today, we are dedicated to meeting the everyday banking needs of everyday New Yorkers who are working hard to get ahead. We continue to support the vitality of the neighborhoods we serve—delivering accessible financial services to individuals and small- to mid-sized businesses. We distinguish ourselves by reinvesting a majority of every deposit dollar back into the communities we serve, with an intentional focus on lending that creates jobs and drives local economic growth. We are proud to be recognized by the U.S. Department of the Treasury as a Community Development Financial Institution. Jointly, we understand the challenges and needs of rural and urban communities and how community banks serve as the backbone of America's middle class. As a first-generation American born in New York to immigrant parents, I am proud to lead an institution that has consistently supported under-resourced communities that strive everyday toward the American dream. I grew up living near, commuting past, and learning about Carver's branches. This bank's story is personal—and so is its future. In our 77th year, Carver isn't new to community banking, and while it takes work to continue the mission, we recognize it is too important not to and we are moving with the diligence, energy, and focus of a start-up. We are transforming to meet the evolving needs of our communities better—expanding our lending, investing in technology, and building a more sustainable path to profitability and impact. To our shareholders, employees, communities, partners, and regulators, thank you for supporting and standing with Carver. We're proud to be here—and we're just getting started!' Transforming a mission-driven community bank back to profitability and growth is hard work—but it's necessary work. When we do it well, our communities do well. Carver is committed to this path, knowing that to remain competitive and relevant, we must continue evolving—delivering trusted financial solutions that help everyday New Yorkers move forward. About Carver Bancorp, Inc. Carver Bancorp, Inc. (NASDAQ: CARV) is the holding company for Carver Federal Savings Bank, a Harlem-based community bank committed to meeting the financial needs of everyday New Yorkers who are working hard to get ahead and supporting the vitality of the neighborhoods it serves by delivering accessible financial services to individuals and small- to mid-sized businesses. Through its online banking platform and physical branches, Carver serves customers across nine states, from Massachusetts to Virginia, including Washington, D.C. Founded in 1948 to address barriers to financial access, Carver has a long-standing legacy of serving historically under-resourced communities. The U.S. Department of the Treasury has designated Carver as both a Community Development Financial Institution (CDFI) and a Minority Depository Institution (MDI) in recognition of its leadership in advancing financial inclusion and local economic empowerment. For further information, please visit the Company's website at Be sure to connect with Carver on Facebook, LinkedIn, and Instagram. Certain statements in this press release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, risks, and uncertainties. More information about these factors, risks, and uncertainties is contained in our filings with the Securities and Exchange Commission. Media: Michael Herley for Carver 203.308.1409 [email protected] Investors: [email protected] View original content to download multimedia: SOURCE Carver Bancorp, Inc.
Fast Company
20-05-2025
- Business
- Fast Company
What the 'Trump effect' teaches us about crypto hype
The last six months have been a strange, exhilarating time for crypto. First, there was the so-called 'Trump effect'—a surge in crypto prices and on-chain activity triggered by the then president-elect's vocal support of crypto. Then came the viral 'Hawk Tuah' meme, which somehow alchemized into a crypto memecoin that rocketed in value, pulled headlines, and emptied wallets in equal measure. For many first-time crypto users, these moments were their gateway into the blockchain. Wallets were downloaded. Tokens were swapped. Twitter (now X) feeds were flooded with strange new lingo: HODL, degen, DYOR. It was a wild ride. For most newcomers, the experience probably felt like trying to join a conversation in a foreign language while riding a rollercoaster. As the leader of a nonprofit dedicated to educating everyday Americans about crypto, I welcome this influx of interest. Crypto, at its best, can democratize financial access, create transparency, and offer new tools for digital empowerment. But hype cycles also bring risk: not just of financial loss, but of alienation and misunderstanding. It's time we decouple the signal from the noise. Crypto isn't just for bros—and it never was Let's start by busting one of crypto's most persistent stereotypes: that it's just for young, wealthy finance bros chasing dreams of Lamborghini sports cars (aka 'Lambos') and going 'to the moon.' Sure, that subculture exists—just like it does in day trading and sports betting. But crypto's roots are far more diverse. Earlier this year, we conducted one of the largest-ever studies of crypto holders in America. We found that almost one third (31%) are women, and more are over the age of 55 (15%) than under 25 (11%). Nearly as many crypto users work in construction (12%) as do in technology (14%)—far more than those working in finance (7%)—and many do not belong to higher income brackets, with roughly a quarter (26%) of crypto-owning households earning less than $75,000/year. The stereotype is outdated and, frankly, dangerous. It discourages thoughtful newcomers from participating and lets bad actors hide behind a smokescreen of memes and cartoonish masculinity. The future of crypto will be shaped by everyday Americans, not caricatures. Decode the lingo, stay for the mission Don't let the lingo intimidate you. You don't need to speak 'crypto' fluently to participate—just like you don't need to know what 'https' means to send an email. But to new users feeling overwhelmed by the language of crypto, here's a quick translation guide to get started: HODL: Originally a typo for 'hold,' it means holding on to your crypto for dear life and resisting the urge to sell in volatile markets. It's become a philosophy for long-term belief in a project's value. Degen: Short for 'degenerate,' it describes high-risk traders chasing fast gains in often unvetted projects. It's part joke, part warning. Memecoin: A token built around a joke or cultural moment like Dogecoin or the recent Hawk Tuah coin. Some are created in jest, others are tapping into legitimate community-driven goals. Think of these as digital collectibles, like Pokemon cards. Tips for crypto newbies Start small, stay curious: The best way to learn is by doing. Treat your first crypto transaction like your first gym session—you're here to learn the ropes, not break a record. Use reputable platforms: Avoid buying coins just because they're trending on TikTok. Stick to exchanges and wallets with strong reputations, transparent policies, and educational resources. Do your own research: Known as 'DYOR' in the crypto world, do your own research and lean on trusted sources. Unfortunately like any industry, there is risk of scams or fraud with crypto. Rule of thumb: If something seems too good to be true, it probably is. Beyond the buzz Crypto's potential isn't defined by celebrity endorsements or trending memes. It lies in what happens beyond the hype: freedom to exchange value directly, without back-office delays or middlemen taking control. Transparent governance and extra layers of privacy. True ownership and accessibility of your digital identity and assets. Regardless of what piqued your interest in crypto or when, welcome. You're right on time. The memes may fade, but crypto's promise is here to stay.
Entrepreneur
18-05-2025
- Business
- Entrepreneur
MIT Alumna Launches Low-Interest Student Loan Program in Pakistan
MIT Alumna Launches Low-Interest Student Loan Program in Pakistan A new financial initiative is changing the landscape of higher education access in Pakistan. EduFi, founded by MIT alumna Aleena Nadeem,... This story originally appeared on Calendar MIT Alumna Launches Low-Interest Student Loan Program in Pakistan A new financial initiative is changing the landscape of higher education access in Pakistan. EduFi, founded by MIT alumna Aleena Nadeem, has introduced a program offering low-interest student loans to Pakistani families, addressing one of the key barriers to college attendance in the country. The program aims to increase college enrollment rates in Pakistan by making higher education financially accessible to a broader segment of the population. With rising tuition costs and limited government funding for education, many qualified students have been unable to pursue university degrees due to financial constraints. Expanding Educational Access Pakistan's higher education system has faced significant challenges in recent years. Despite having a large youth population, college attendance rates remain relatively low compared to neighboring countries. Financial barriers represent one of the primary obstacles preventing qualified students from pursuing higher education. EduFi's model focuses on providing affordable financing options specifically designed for the Pakistani market. Unlike traditional banks that may require substantial collateral or charge high interest rates, EduFi offers terms that make repayment manageable for families across various income levels. Nadeem's background as an MIT graduate brings technical expertise and global perspective to the venture. Her education at one of the world's premier technical institutions has informed EduFi's data-driven approach to loan assessment and distribution. Financial Innovation for Educational Impact The program utilizes alternative credit assessment methods to evaluate loan applications, looking beyond traditional credit scores which many Pakistani families lack. This approach allows EduFi to serve populations typically excluded from formal financial services. Key features of EduFi's loan program include: Interest rates significantly below market average Flexible repayment schedules aligned with post-graduation employment No requirement for substantial collateral Digital application process to serve remote areas Early data suggests the program is having a positive impact. Families who have accessed EduFi loans report that without this financing option, their children would have been unable to attend university despite having the academic qualifications to succeed. Addressing a Critical Need Education experts note that Pakistan's economic development depends heavily on increasing its skilled workforce through higher education. The country faces a significant 'brain drain' as talented students who can afford international education often leave the country for opportunities abroad. By making local education more accessible, EduFi may help retain talent within Pakistan's borders while strengthening domestic institutions. The program also addresses gender disparities in higher education, as financial constraints often disproportionately affect female students. 'When families have limited resources, they typically prioritize sons' education over daughters',' explains a local education advocate. 'Programs like this help families send all their qualified children to college regardless of gender.' The initiative represents part of a growing trend of social enterprises applying business models to address educational challenges in developing economies. By creating sustainable financial solutions rather than relying solely on philanthropy, these approaches aim for long-term impact. As EduFi continues to expand its operations across Pakistan, the program may serve as a model for similar initiatives in other countries facing comparable challenges with higher education access. The intersection of financial technology and education presents promising opportunities for increasing college attendance rates globally. The post MIT Alumna Launches Low-Interest Student Loan Program in Pakistan appeared first on Calendar.
Telegraph
11-05-2025
- Business
- Telegraph
The bank ‘vanity project' loved by Reeves but causing chaos for customers
If you live outside a major city, you may well be marooned in a 'banking desert'. Decades of branch closures and a shift to online banking means that popping into town to cash a cheque or print a statement is, for many, a thing of the past. The proposed solution – conceived under the Tories and now championed by Labour – is banking hubs. Banking hubs are shared spaces funded collectively by Britain's biggest high street banks – including Barclays, Lloyds, NatWest and HSBC – and run by Post Office staff. They are typically open Monday to Friday, with representatives from each bank dropping in once a week on rotation. Rachel Reeves, the Chancellor, is a fan. In December, she opened the country's 100th in Darwen, Lancashire and has pledged to deliver 350 by 2029. But are these 1,000-sq ft hubs really the solution to the country's banking access crisis? Critics point out that they can often only facilitate basic transactions, with many lacking printers and ATMs. What's more, around 16,000 bank branches have closed their doors since the 1980s yet just 156 hubs have been installed to replace them. Details of the scheme's funding are kept under wraps, with banks handing over undisclosed amounts of cash whenever organisers request it. It is little wonder campaigners labelled the banking hub drive a 'vanity project' designed only so politicians can 'pat each other on the back'. 'Woefully inadequate' The number of bank branches has collapsed from more than 21,000 in 1986 to fewer than 5,000 in 2025, data from the British Banking Association shows. More than 6,300 of these closures have occurred in the last decade. Some 33 of the UK's 650 constituencies had no bank branches at the end of last year. The big banks say they are cutting branches in response to lower demand for in-person banking. This is almost certainly true. Even so, the closures have hit a vulnerable minority of customers who tend to be older, less technologically savvy and more likely to rely on cash. There are now 156 hubs dotted across the country, from Acton, West London to Yeadon, West Yorkshire. Another 80 will open this year. But progress has been slow as the rollout has been plagued by delays. The hubs need to be accessible to disabled customers, and have a safe, meaning not every available space is suitable. Martin Quinn, campaign director of Campaign for Cash, told Telegraph Money that the hubs were a 'great idea in theory' but the 350-hub target is 'woefully inadequate'. He said: 'If we've lost nearly 6,300 [branches] in the last decade, how the hell is 350 going to plug the gap? This is really a drop in the ocean. If the banking industry were really serious they would be rolling out 10 a week.' He added: 'Everyone's patting each other on the back, politicians included. But [banking hubs] are a sticking plaster. They need to be turbo-charged.' Analysis by the Payment Choice Alliance campaign group found that most of the 7,000 communities with populations of less than 35,000 will be without an ATM or bank branch by the end of this year. All of those communities require at least one 24/7 ATM while those with between 5,000 and 35,000 people – roughly 1,200 – merit a banking hub, the group said. Lack of facilities Campaigners point out that the facilities available at the hubs are too limited. The shared spaces have a private room where customers can discuss sensitive details on the days that the 'community banker' from their bank is in. Otherwise they are limited to basic operations like balance enquiries, paying in money and changing their Pin. Many hubs have no printers installed, leaving customers unable to get paper statements which may be asked for by employers or landlords. And crucially, the hubs do not have ATMs embedded in the external or internal walls as in traditional high street branches. Some customers have complained that the facilities on offer at banking hubs are either lacking or unpredictable. Customer John Marsh of Sheringham, Norfolk, wrote in to The Telegraph last week: 'I was told that I couldn't pay in cash or cheques, nor withdraw cash. 'Upon enquiring what was possible at the hub, it transpired that staff could help me with my pension planning, direct debits and insurance. Perhaps other hubs will be different.' Ron Delnevo, chairman of the Payment Choice Alliance campaign group, called the hubs a 'vanity project.' He said: 'ATMs are absolutely fundamental. There needs to be a specification for these banking hubs. 'The Government, the Financial Conduct Authority (FCA), the Treasury are all dragging their feet on the cash access crisis. It's like the captain of the Titanic saying, 'Let's plough into the iceberg and deal with the fallout later'.' However, Dennis Reed, director of senior citizens organisation, Silver Voices, welcomed the little support hubs do offer. He said: 'We have to be realistic. So many population centres no longer have a bank branch and people have to travel – so banking hubs are better than nothing.' Strict criteria Banks and building societies must assess whether communities have reasonable access to cash when they close branches, under rules enshrined in law and governed by the City watchdog, the FCA. If not, then they will need to provide more facilities – including banking hubs – before closing a branch. Link, the cash machine network group, decides whether a community should qualify for a hub and where it should be located. Cash Access UK – a not-for-profit company owned and financed by nine of Britain's biggest high street banks – is tasked with delivering the hub. This is easier said than done. Cat Farrow, chief customer and strategy officer at Cash Access UK, said: 'We're at the mercy of the property market. It's not always easy to acquire the premises or to make necessary changes to transform them into banking hubs. 'They need to be about 1,000 sq ft. We try to bring these buildings up to a good standard and make sure that they're completely accessible. It's a challenge.' To decide which communities should get a hub, Link uses a set of criteria that it drew up with the banks in 2022, and then updated to align with FCA rules in September 2024. Link weighs up how far people would have to travel to get to their nearest branch and how much this would cost them. It considers how many people live nearby and how likely local people are to use cash. Nick Quin, of Link, said: 'Deprivation is a big driver of cash usage, as well as how many people are digitally excluded and how old people are.' Link's website states that hubs work best when there are at least 10,000 people in the local area – defined loosely as the area the high street serves – and at least 70 shops in the area that take cash. Quin said the criteria were more like 'rules of thumb' and that Link regularly carried out assessments on the ground. Yet campaigners believe the criteria are too strict and should be loosened to speed up the rollout. Delnevo, of the Payment Choice Alliance, said: '70-plus shops is a damn high bar. How many communities have that many?' No obligation There are also concerns banks could pull the plug on the project whenever they wish. In the Financial Services and Markets Act 2023 and the Financial Conduct Authority's access to cash regulations, there is no requirement to have a 'community banker' present at the banking hubs. The group of Britain's biggest banks signed up voluntarily to the banking hub idea before the legislation was introduced. It means that while all banking hubs currently have community bankers visiting on rotation, banks have no obligation to keep this service going. The banks have not disclosed how much money Cash Access UK has to draw on to set up banking hubs.
