Core Insights - State Street has launched its Digital Asset Platform, which aims to bridge traditional and digital finance, providing a secure infrastructure for tokenized assets [1][4] - The platform is designed to support the development of tokenized Money Market Funds, ETFs, and cash products, including tokenized deposits and stablecoins [1][4] Group 1: Platform Features - The Digital Asset Platform includes wallet management, custodial, and cash capabilities, facilitating tokenized product development across various jurisdictions [3] - Enhanced security and operational compliance controls are integrated with existing systems, ensuring secure access for institutional clients [3] Group 2: Strategic Importance - The launch signifies a shift from experimentation to practical, scalable solutions that meet high security and compliance standards [4] - The platform is built on a client partnership model, allowing for ongoing evolution in response to market needs and regulatory expectations [4] Group 3: Company Overview - State Street Corporation is a leading provider of financial services to institutional investors, with $51.7 trillion in assets under custody and/or administration and $5.4 trillion in assets under management as of September 30, 2025 [6][7] - The company operates globally in over 100 markets and employs approximately 52,000 people [6]

Financial Data and Key Metrics Changes - The company reported record net income of $5.3 billion and record revenue of $20.1 billion for 2025, with total revenue growing by 8% year over year [3][23] - Earnings per share increased by 28% year over year to $7.40, with a return on tangible common equity of 26% [4][23] - For Q4 2025, total revenue was $5.2 billion, up 7% year over year, with net interest income increasing by 13% [19][20] Business Line Data and Key Metrics Changes - Security services reported total revenue of $2.5 billion, up 7% year over year, with investment services fees increasing by 11% [25][29] - Markets and Wealth Services reported total revenue of $1.8 billion, up 8% year over year, with net interest income for the segment increasing by 20% [30][32] - Investment and Wealth Management reported total revenue of $854 million, down 2% year over year, with assets under management increasing by 7% [33][34] Market Data and Key Metrics Changes - Firmwide assets under custody and administration (AUCA) increased by 14% year over year to $59.3 trillion, reflecting client inflows and higher market values [20] - The ETF AUCA ended the year at $3.8 trillion, up 34% year over year, indicating strong growth in the ETF segment [26] - Average collateral balances in the clearance and collateral management business increased by 15% year over year to $7.5 trillion [31] Company Strategy and Development Direction - The company is focused on unlocking growth potential through a new commercial model and the adoption of AI technologies [6][18] - Strategic priorities include enhancing client relationships, simplifying operations, and fostering a culture of accountability [12][18] - The company aims to innovate in the digital asset space, including launching tokenized deposits and stablecoin solutions [9][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a revenue growth target of approximately 5% year over year for 2026, despite a dynamic operating environment [35][39] - The company is focused on maintaining positive operating leverage and improving pre-tax margins to 38% and return on tangible common equity to 28% in the medium term [37][38] - Management acknowledged the need for agility in expense management to adapt to potential market changes [44] Other Important Information - The company returned $5 billion of capital to shareholders through dividends and share repurchases in 2025 [4] - The Tier 1 capital ratio at the end of the quarter was 11.9%, reflecting a strong capital position [24] Q&A Session Summary Question: Guidance on revenue growth for 2026 - Management indicated a revenue growth expectation of approximately 5% year over year, with net interest income expected to grow slightly ahead of 5% and fees potentially lower than 5% [39][40] Question: Medium-term earnings growth potential - Management emphasized the importance of positive operating leverage and the need for agility in expense management to defend margins and return on tangible common equity targets [41][44] Question: Impact of AI on hiring and efficiency - Management highlighted the transformative potential of AI and its role in unlocking capacity, with a focus on integrating AI into operations rather than solely on efficiency [45][46] Question: Pre-tax margin improvement across business lines - Management discussed the progression of pre-tax margins, noting opportunities for improvement in investment and wealth management, while security services and markets and wealth services are expected to maintain strong margins [50][52]

Core Viewpoint - VersaBank is undergoing a restructuring to align with the standard framework of a US Bank, which is expected to support its growth strategy in both the US and Canada [1][2]. Group 1: Executive Appointments - Nicolas Ospina has been appointed as the Global Chief Financial Officer, overseeing the Bank's finance function at the corporate level [6]. - John Asma has been promoted to Executive Vice President, focusing on the operation and execution of strategy for Canadian Digital Banking operations [6]. - Ospina brings over a decade of experience from Raymond James, where he was involved in over 50 transactions in the US banking sector, enhancing his suitability for the role [2][6]. Group 2: Business Model and Strategy - VersaBank operates a branchless, digital, business-to-business banking model, leveraging proprietary technology to serve underserved segments of the banking industry [3]. - The Bank launched its Receivable Purchase Program in the US market, which has been successful in Canada for nearly 15 years, targeting a multi-trillion-dollar market [3]. - VersaBank also owns DRT Cyber Inc., which provides cybersecurity services, addressing the growing volume of cyber threats [3]. Group 3: Market Position and Future Outlook - The restructuring is aimed at simplifying the regulatory structure and reducing costs, which could enhance shareholder value [7][8]. - The Bank's ability to grow its US Receivable Purchase Program and expand its net interest margin is a key focus for future growth [7].

JPMorgan Chase & Co.'s asset management arm is launching its first ever tokenized money market fund built on Ethereum, joining a growing list of Wall Street firms pushing into blockchain-based finance.Processing ContentThe New-York based bank on Monday debuted the My OnChain Net Yield Fund, or MONY, a private fund supported by JPMorgan's tokenization platform, Kinexys Digital Assets, according to a press release. MONY, open to qualified investors, allows them to earn yield while holding the token on the blo ...

Core Viewpoint - VersaBank is set to report its fourth quarter and fiscal year-end financial results for 2025 on December 10, 2025, with a conference call scheduled to discuss these results [1] Financial Reporting - The financial results will be released via news release at approximately 7:00 a.m. ET on the same day [1] - A conference call/webcast will take place at 9:00 a.m. ET, expected to last around 60 minutes, featuring presentations by the President and CFO [1] Participation Details - Participants can join the conference call by registering in advance for an automated call back or by dialing in directly [1] - A live webcast will also be available on the Bank's website, with an archived version accessible for 90 days post-event [1] Company Overview - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital business-to-business model [1] - The bank focuses on underserved segments of the banking industry, leveraging proprietary technology to enhance efficiency and return on common equity [1] - In August 2024, VersaBank launched its Receivable Purchase Program in the US, expanding its successful Canadian operations [1] - The bank owns DRT Cyber Inc., a leader in cybersecurity services, addressing the growing cyber threats faced by financial institutions and corporations [1]

Core Points - VersaBank has donated $50,000 to The Salvation Army's Harvest Hope campaign to combat food insecurity in Canada, particularly in London, Ontario, where the bank is headquartered [1][2] - The donation is part of a broader effort to support vulnerable communities amid a sluggish economy, as highlighted by the increased demand for food bank services [1][2] - Food Banks Canada reported that food bank usage has doubled since March 2019, with a 5.2% increase in usage this year compared to 2024 [1] - The Salvation Army distributed over 7 million pounds of food and served 2.6 million shelter meals in Ontario in 2024 [1] Company Overview - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital business-to-business model [7] - The bank focuses on underserved segments of the banking industry, leveraging proprietary technology to enhance efficiency and return on common equity [7] - VersaBank launched its Receivable Purchase Program in August 2024, targeting the underserved US market for point-of-sale finance companies [7] - The bank also owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which focuses on next-generation digital assets [7] Industry Context - Food insecurity is identified as an urgent crisis in Ontario and Canada, necessitating support from organizations like VersaBank [2] - The Salvation Army plays a crucial role in providing various social services, including food banks, shelter, and rehabilitation programs across over 400 communities in Canada [5] - The final months of the year are critical for fundraising efforts for organizations like The Salvation Army, emphasizing the need for corporate support [4]

Group 1: Company Contributions and Community Impact - VersaBank has donated $50,000 to The Salvation Army's Harvest Hope campaign to combat food insecurity in Canada, particularly in London, Ontario, where the bank is headquartered [1] - The Salvation Army reported distributing over 7 million pounds of food and serving 2.6 million shelter meals in Ontario in 2024, highlighting the growing need for support in the community [1] - Captain Gina Haggett from The Salvation Army emphasized the importance of corporate support in providing essential services to vulnerable populations across Canada [2] Group 2: Economic Context and Urgency - Food bank usage in Canada has doubled since March 2019, with a 5.2% increase in usage reported this year compared to 2024, indicating a worsening food insecurity crisis [1] - The final months of the year are critical for fundraising efforts for The Salvation Army, as many organizations seek to support those in need during this time [4] Group 3: Company Background and Operations - VersaBank operates as a branchless, digital bank in North America, focusing on underserved segments of the banking industry through innovative technology [7] - The bank has launched a Receivable Purchase Program funding solution aimed at point-of-sale finance companies, which has been successful in Canada and is now targeting the U.S. market [7]

Core Insights - VersaBank is a North American leader in business-to-business digital banking and technology solutions for cybersecurity, participating in the KBW Fintech Payments Conference in New York City from November 11-13, 2025 [1] - The bank operates a branchless, digital model that allows it to profitably serve underserved segments of the banking industry while mitigating risks [2] - VersaBank launched its Receivable Purchase Program funding solution in August 2024, targeting the underserved multi-trillion-dollar US market, building on its success in Canada [2] - The bank owns DRT Cyber Inc., a leader in cybersecurity services, which enhances its capabilities in addressing cyber threats and developing next-generation digital assets [2] Company Overview - VersaBank is federally chartered in both Canada and the US, utilizing a proprietary technology to drive efficiency and return on common equity [2] - The bank's funding model relies heavily on electronic deposits through financial intermediary partners, providing significant operating leverage [2] - VersaBank's common shares are traded on the Toronto Stock Exchange and NASDAQ under the symbol VBNK [3]

Core Insights - VersaBank has entered into an agreement with its largest US Receivable Purchase Program (RPP) partner to utilize its core RPP in the United States [1][3] - The initial funding of US$61 million has been completed, bringing total US RPP fundings in fiscal 2025 to US$310 million, exceeding the year-end target of US$290 million [2][3] Financial Performance - Total US RPP fundings in fiscal 2025 comprised US$242 million from the core RPP offering and US$68 million from the Securitized RPP offering [2] - Year-end RPP assets reached US$293 million, with US$227 million from the core RPP and US$66 million from the Securitized RPP [2] Strategic Outlook - The company anticipates expanding its US assets significantly in fiscal 2026, driven by the momentum of both core and Securitized RPP offerings [3] - The partnership is expected to enhance the attractiveness of VersaBank's RPP and foster further relationships with new partners [3] Company Overview - VersaBank operates as a branchless, digital, business-to-business bank, leveraging proprietary technology to serve underserved segments of the banking industry [4] - The bank has launched its Receivable Purchase Program funding solution in the US market, which has been successful in Canada for nearly 15 years [4] - VersaBank also owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which focuses on next-generation digital assets [4]

Industry Development - Custodiabank and Vantage Bank launched a live platform for tokenized deposits, expanding their pilot into a nationwide network for U.S banks [1]