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Capital and risk, Operational, Products, Retail banking

Wells Fargo launches mobile “tap and pay” functionality at 5,000 ATMs

October 11, 2017

Via: Banking Technology

More than 5,000 ATMs of Wells Fargo (40% of its ATM network) now have near-field communication (NFC) enabled mobile wallet capability – i.e. the bank’s debit card customers can now “tap and pay”. The bank says it aims to upgrade […]


Activity, Business banking, Products, Trading

Robinhood, trading app for millennials, still betting on stocks over bitcoin

October 10, 2017

Via: CNBC

For all the talk about millennials preferring bitcoin and other investments over stocks, the co-founder of popular stock trading app Robinhood expects stocks to stay in favor. “I wouldn’t say that we’re anticipating a massive shift from stocks to cryptocurrencies,” […]


Capital and risk, Credit

Corporate vs. Business Credit Cards: Which Is Best for Your Bottom Line?

October 10, 2017

Via: GOBankingRates

Corporate and business credit cards are two different things. Corporate credit cards are typically issued to businesses with revenues of several million to billions of dollars, and the company, not an individual, is liable for any nonpayment issues. Business credit […]


Channels

Wells Fargo Underwrites Itron Acquisition of Silver Spring Networks

October 9, 2017

Via: ABF Journal

Itron will all outstanding shares of Silver Spring for $16.25 per share in cash in a transaction valued at $830 million, excluding $180 million in Silver Spring cash. Itron is funding the deal, fully underwritten by Wells Fargo, with cash […]


Capital and risk, Credit

Best Credit Unions: 18 Top Picks for International Credit Union Day

October 9, 2017

Via: GOBankingRates

Credit unions are nonprofit financial institutions that are owned by their members — and for many, they’re a popular alternative to national and community banks. In honor of International Credit Union Day — celebrated annually on the third Thursday of […]


Capital and risk, Operational

Nacha’s American API payments dream pushes on

October 6, 2017

Via: Banking Technology

Nacha, the backbone for the electronic movement of money and data in the US, and its Payments Innovation Alliance (PIA), have named the first five APIs for their big payments push. The API Standardization Industry Group, created in spring 2017 […]


Activity, Trading

Banks Stocks Higher as September Jobs Report Misses Expectations

October 6, 2017

Via: TheStreet

Bank stocks moved broadly higher in premarket trading Friday, Oct. 6, after September’s jobs report whiffed on expectations and contracted for the first time in seven years. Shares of JPMorgan Chase & Co. (JPM – Get Report) gained 0.48% to […]


Activity, Trading

Stocks are cheap and could rally 32 percent next year — here’s the chart that shows why

October 5, 2017

Via: CNBC

It’s a valuation call that catapults stocks by 32 percent. Based on the latest calculations by PNC Asset Management’s Bill Stone, the S&P 500 could hit 3,368 in 2018. And he has a chart that proves it could happen. “Part […]


Capital and risk, Credit, Products, Retail banking

Hey big lender! Finastra, R3 and seven banks have blockchain plan

October 5, 2017

Via: Banking Technology

Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based […]


Regulations

Equifax’s Smith goes to Washington to face Senate hearing on data breach

October 4, 2017

Via: CNBC

Equifax’s former CEO, Richard Smith, is likely to face heated questioning from members of the Senate Banking Committee Wednesday as he returns to Capitol Hill for a second day of testimony. He is scheduled to appear in the Banking and, […]