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Category: News


Activity, News, Retail Banking

Citi puts a number to its South Korea wind-down charges

November 8, 2021

Via: Banking Dive

Citi will incur between $1.2 billion and $1.5 billion in charges to wind down its consumer banking operations in South Korea, the bank said Monday in an amendment to an earlier Securities and Exchange Commission (SEC) filing. The bank said […]


News

Fed’s Quarles to step down at year’s end

November 8, 2021

Via: Banking Dive

Federal Reserve Gov. Randal Quarles resigned Monday in a move that allows President Joe Biden to give the central bank a Democratic majority. Quarles’ seat is the third Fed post Biden could fill in the coming months. One seat on […]


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Lloyds hires former HSBC man Boteju as new group chief data officer

November 4, 2021

Via: FinTech Futures

Boteju spent almost 10 years at HSBC before leaving in October as its global head of data and analytics. Prior to that he also spent time at Standard Chartered, Commonwealth Bank of Australian, and Vodafone New Zealand. In a post […]


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Citi picks Capital One’s Naveed Anwar for digital head of TTS

October 20, 2021

Via: FinTech Futures

Anwar is a six-year Capital One veteran, and currently works as the firm’s managing vice president for data platforms, strategic partnerships and integrations. Prior to his time at Capital One, he spent more than 20 years at PayPal, eBay, AOL […]


News

What to Know About Cannabis Banking in 2022

October 15, 2021

Via: Bank Director

The cannabis industry is growing exponentially, and nationwide sales are estimated to exceed $30 billion in 2022. This growth comes with extraordinary opportunities for banks to offer services to the still largely unbanked and underbanked cannabis industry. Board members and […]


News

How Two Community Banks Added Remote Directors, and Why More Should

October 11, 2021

Via: Bank Director

Increasingly, community banks are considering remote or hybrid work arrangements as a way to bring on hard-to-find and in-demand talent at the employee level. They may want to consider doing something similar for their boards, as well. Many community banks […]


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JPMorgan Chase joins UN’s Net-Zero Banking Alliance

October 11, 2021

Via: Banking Dive

In signing the pledge, JPMorgan joins a group that already counts fellow Wall Street titans Citi and Morgan Stanley as members. However, JPMorgan, the U.S.’s largest bank, held out on joining the initiative for several months. The program launched in […]


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Bank of America, BMO Harris boost their minimum wages

October 6, 2021

Via: Banking Dive

If Bank of America reaches its $25-per-hour target on time, it will have bumped up its minimum wage by nearly $14, an hour since 2010, the bank said. Wednesday’s raise, effective date undisclosed, marks Bank of America’s first minimum compensation […]


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HSBC hires Google veteran to lead commercial banking platforms

October 1, 2021

Via: FinTech Futures

HSBC has hired former Google executive Aman Narain to lead its global commercial banking platforms. Narain, who describes himself as a “banker turned Googler”, spent four years at the Big Tech before leaving as global new payments ecosystems lead. His […]


News

Three Steps to Building a Post-Pandemic Payments Strategy

September 24, 2021

Via: Bank Director

The Covid-19 pandemic spotlighted contactless payments. To stay competitive with the future of payments, community banks must offer multifaceted options, like virtual cards, P2P payments and digital wallets. But building a digital and contactless payments strategy goes beyond just offering […]