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First Federal Bank Voted as Best Bank

November 8, 2022

Via: PR Newswire

First Federal Bank is honored to have received the 2022 recognition of “Best Bank” in 5 of its service areas; this is in addition to having been named by Newsweek as America’s the Best Small Bank in Florida for 2022. […]


Capital and Risk, Liquidity

Euro (EUR) Latest: Hawkish ECB Talk Boosts the Euro, EUR/USD Parity Being Tested

November 8, 2022

Via: DailyFX

A number of ECB policymakers have been doubling down on the central bank’s position on interest rates and inflation, saying that higher rates are needed for longer to quell double-digit price pressures. In what looks like a concerted effort to […]


Capital and Risk, Insurance

Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses

November 7, 2022

Via: Insurance Journal

Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and increases in private-passenger auto frequency offset underlying […]


Channels

Saudi Central Bank debuts new open banking framework

November 7, 2022

Via: FinTech Futures

The framework includes a comprehensive set of legislation, regulatory guidelines and technical standards based on international best practices to enable banks and fintechs to provide open banking services in Saudi Arabia as early as Q1 2023. The move forms part […]


Activity, Corporate Banking

TIAA to sell banking unit

November 4, 2022

Via: Banking Dive

“As we refocus on retirement, we have decided now is the appropriate time for TIAA Bank to begin a new chapter under new ownership,” David Nason, TIAA’s chief operating officer said in a statement. “The changes we’re announcing are in […]


Activity, Investment Banking

U.S Bank receives $60 million of New Markets Tax Credit allocation

November 3, 2022

Via: Yahoo

U.S. Bank’s community development entity (CDE) – USBCDE, LLC – received $60 million of New Markets Tax Credit (NMTC) allocation from the U.S. Department of Treasury. The allocation was among the largest awarded in this round and is part of […]


Capital and Risk, Credit

Regional banks say they can handle any looming credit hiccups

November 3, 2022

Via: American Banker

Regional banks are preparing for a looming economic downturn, but they don’t seem too concerned that their balance sheets will take a major hit. At an industry conference Thursday, executives at PNC Financial Services Group, Regions Financial and M&T Bank […]


News

Credit Karma pauses “almost all new hiring” citing revenue challenges

November 2, 2022

Via: FinTech Futures

In the email sent to all employees, Colleen McCreary, Credit Karma’s chief people officer, says the company continues to face “revenue challenges due to the uncertainty of the macroeconomic environment”. The email says the company has increased its headcount by […]


News

Hong Kong Scraps Market Trading as Storm Nalgae Draws Near

November 2, 2022

Via: Insurance Journal

Hong Kong closed its $4 trillion stock market early as severe tropical storm Nalgae moved closer on a day when the city hosted a top-level summit for global bankers. Hong Kong Exchanges & Clearing Ltd. scrapped afternoon trading of stocks […]


Capital and Risk, Trading

3 Warren Buffett Stocks That Are Screaming Buys in November

November 1, 2022

Via: Yahoo

The investing track record of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett suggests he might know a thing or two about the stock market and identifying value. Since taking the helm of Berkshire in 1965, he’s created approximately $660 […]


News

U.S. Bank Named One of the 100 Best Companies for Working Parents

November 1, 2022

Via: Yahoo

For Seramount, formerly Working Mother, ranked U.S. Bank as one of the 100 Best Companies for working parents based on the company’s programs and benefits, including parental leave, fertility benefits, adoption, caregiver benefits, mentoring, and opportunities for advancement. This is […]


Capital and Risk, Insurance

Grain Ships Sail From Ukraine Despite Moscow Exit From Deal; Insurance Cover Paused

October 31, 2022

Via: Insurance Journal

Ships brought grain from Ukrainian ports on Monday, suggesting Moscow had stopped short of reimposing a blockade that might have caused world hunger, despite suspending its participation in a U.N. program to safely export grain from the war zone. Air […]


Capital and Risk, Liquidity

British Pound Latest: GBP/USD Caught Between The Fed and The BoE

October 31, 2022

Via: DailyFX

It looks highly likely that both the Federal Reserve and the Bank of England will hike their borrowing rates by 75 basis points this week, as both central banks continue to struggle with persistently high inflation. While both announcements will […]


Capital and Risk, Liquidity

USD/JPY Yielding to a Revitalized Dollar as the BoJ Offers No Help

October 28, 2022

Via: DailyFX

The Bank of Japan today left all monetary policy levers untouched, as expected, and confirmed that it would continue to control JGB yields to help boost the ailing Japanese economy, stoke inflation and keep the Japanese Yen depressed. At the […]


Capital and Risk, Liquidity, Trading

The Importance of Liquidity in Forex Trading

October 28, 2022

Via: DailyFX

As a trader gets started in forex trading, one of the first advantages they’re likely to come across is how much liquidity the forex market offers over other markets. The latest figures are roughly $5.1 trillion in daily traded volume […]


Channels

How to Move Older Customers to Digital Banking Channels

October 28, 2022

Via: Bank Director

The Covid-19 pandemic altered how Americans conduct financial transactions, with many making a permanent shift to digital channels. However, one age group still is a holdout. Baby boomers, ages 58 to 76, didn’t flock to digital channels, especially mobile banking, […]


News

Credit Suisse to trim 9K jobs, break up investment bank

October 27, 2022

Via: Banking Dive

Credit Suisse plans to cut 9,000 jobs over the next three years as part of a wide-ranging revamp it announced Thursday. About 2,700 of those cuts will come in the fourth quarter, the bank said. Credit Suisse also outlined its […]


Channels

Africa’s Cellulant partners Mastercard for online e-commerce payments

October 26, 2022

Via: FinTech Futures

The move will allow customers to make global online payments with a Mastercard virtual card linked to Cellulant’s digital wallet offering Tingg. Tingg is a single API payments platform that enables businesses to collect online and offline payments while allowing […]


Activity, Investment Banking

B2B paytech Finexio secures $35m Series B at $100m valuation

October 26, 2022

Via: FinTech Futures

The oversubscribed round was co-led by Mendon Venture Partners and National Bank Holdings Corporation and saw participation from banking giant JP Morgan, which came in with the largest investment. Existing investor Patriot Financial Partners and new investors Discover Financial Services, […]


News

HSBC names Georges Elhedery as new group CFO

October 25, 2022

Via: FinTech Futures

Elhedery will take on his new role from 1 January 2023, replacing Ewen Stevenson, who will be stepping down from the role of group CFO and executive director on 31 December and will leave HSBC in April next year. The […]