India’s Unified Payments Interface (UPI) achieved a record-breaking 16.58 billion transactions in October, fueled by increased spending during the festive season. This marks a 45 percent jump from the previous year. The top banks for UPI transactions are SBI, HDFC Bank, and YES Bank. While other payment systems like FASTag saw growth, IMPS experienced a slight decline.
Wells Fargo has agreed to sell its non-agency third-party servicing segment of its Commercial Mortgage Servicing business to Trimont for an undisclosed amount. This move aligns with Wells Fargo’s strategy of focusing on core businesses for consumer and corporate clients. The deal is expected to close in early 2025, making Trimont the largest loan servicer in the US.
