Category: News

October 16, 2023

Citi cut another 2,000 jobs in the third quarter, CFO Mark Mason told analysts Friday during a third-quarter earnings call, according to Bloomberg. That means the bank has trimmed roughly 7,000 roles so far this year — and the figure […]

October 16, 2023

Almost all start-ups claim that ESG is one of their core values, but how many of them can accurately say what their regulatory requirements are in relation to ESG? Most of the pronouncements you see seem more like a communications […]

October 13, 2023

Joining Sixth Street as part of the consortium are funds and accounts managed by the New York-headquartered investment firm KKR, investment management firm Bayview Asset Management and credit and payments company CardWorks. Investment advisor Pimco also supported the transaction through […]

October 10, 2023

This year there are 38 categories to choose from, including the Project Awards for banks and financial institutions, the Excellence in Tech Awards for software and services providers and the Leadership Awards for individuals and teams. The awards are a […]

October 9, 2023

ChatGPT’s tsunami-like landfall in November 2022 made clear that generative artificial intelligence (AI) marked a profound advancement with broad applicability. Yet just as AI’s newest incarnation represents a major opportunity for businesses of all stripes, it’s also a potentially significant […]

October 9, 2023

However, I feel it’s worth exploring whether the concept of digital transformation is redundant in the fast-paced and ever-evolving landscapes that we currently operate in. Below are some of the reasons why some could argue that digital transformation is an […]

October 5, 2023

Walsh will be tasked with executing the digital bank’s stateside strategy, product development and growth, marking the bank’s latest attempt to live out its American dream. The bank has spent the last few years laying the groundwork for this move […]

October 3, 2023

American Banker has recognized two U.S. Bank leaders in its 2023 Most Powerful Women in Banking awards, naming Vice Chair Gunjan Kedia and Director Alli Yttreness among individual honorees. Kedia, a vice chair and member of the 16-person Managing Committee, […]

September 29, 2023

As part of the agreement, JP Morgan’s corporate and investment bank will corroborate payment information for the department’s fiscal service prior to its payments being issued. It will seek to authenticate payment details by leveraging its own customer information alongside […]

September 28, 2023

As part of a global retreat announced in 2021, Citi aims to exit 14 markets in Asia, Europe, the Middle East, Africa and Mexico. The bank announced last year that it planned to wind down its consumer-banking operations in China. […]

September 21, 2023

Bank of America will boost its minimum hourly wage to $23 next month, in its latest step toward paying its lowest-earning employees $25 per hour by 2025, the company announced Wednesday. The Charlotte, North Carolina-based lender has bumped up its […]

September 12, 2023

Truist plans to make “sizable reductions” to its workforce over the next three quarters, as the bank embarks on a cost savings program aimed at shaving $750 million off the bank’s gross costs over the next 12 to 18 months, […]

September 11, 2023

Venkat is reportedly reviewing the bank’s strategy amid investor dissatisfaction with the lender’s stock price in relation to its Wall Street peers. Barclays has already seen an uptick in attrition among its dealmakers this year after the bank named new […]

September 6, 2023

Subject to approval by the New Zealand Overseas Investment Office, the deal is expected to close in late November, following which the pair will work towards a “smooth and efficient” transition for its customers. On completion, the acquired portfolio is […]

September 1, 2023

Financial institutions are increasingly ramping up partnerships with third-party organizations that offer technologies that promulgate efficiencies or add new banking products to drive revenues. As these partnerships increase, the risk to the banking system is also increasing. In June, the […]

August 31, 2023

New York’s attorney general on Wednesday asked a state judge to declare, even before the start of a trial, that Donald Trump committed fraud by submitting false statements to bankers and insurers and overstating his net worth by up to […]

August 17, 2023

Would you entrust your savings to Elon Musk? The question may seem hyperbolic, but essentially, that’s the multi-billion dollar query at the heart of Musk’s “everything app” vision, that he’ll be able to convince millions, even billions of people to […]

August 14, 2023

The list of credit unions and community banks engaging with the service now includes ACFCU, Barksdale Federal Credit Union, Eglin FCU, Financial Edge, First Credit Union, Highmark Federal Credit Union, PeopleFirst FCU and TruStone Financial CU, among others. Bolstered by […]

August 11, 2023

Revolut confirmed this week that from 2 September, its US customers will no longer be able to place buy orders for crypto with the bank, with access due to be fully disabled from 3 October. Speaking to FinTech Futures, a […]

August 1, 2023

Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed. Spending by shippers dropped 10.9% compared to the second […]