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Activity, Investment Banking

Lloyds Bank backs new £62m community development fund

March 4, 2024

Via: FinTech Futures

The CIEF has been launched to provide funding to Community Development Finance Institutions (CDFIs). CDFIs are non-profit lenders including community development banks, credit unions, loan funds and venture capital funds which service underserved communities specifically with small business loans, real […]


Activity, Retail Banking

Online pension provider PensionBee announces US expansion plan

March 4, 2024

Via: FinTech Futures

Described as a “transformative step” for the firm by company CEO Romi Savova, PensionBee hopes its US operations will match or exceed the scale of its UK business within the next decade, adding that the US defined contribution pension market […]


Capital and Risk, Operational

The history of banking technology vs the history of banking experience

March 1, 2024

Via: FinTech Futures

Back in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We […]


Activity, Investment Banking

Cross River Bank Group launches new investment banking unit

February 29, 2024

Via: FinTech Futures

The group – which is headquartered in Kansas City and includes CRB Securities and embedded finance solutions vendor Cross River Bank – says the new division will work to advise fintechs on “their most critical decisions, including mergers and acquisitions, […]


Regulations

Green Dot receives proposed consent order from US Federal Reserve

February 29, 2024

Via: FinTech Futures

In its recently published Q4 and full year financial results for 2023, Green Dot states that the matters addressed in the proposed consent order “relate to activities and practices that commenced prior to the company’s Chief Executive Officer transition in […]


Capital and Risk, Credit

Blackstone buys $1.1bn of US credit card debt from Barclays

February 28, 2024

Via: FinTech Futures

The deal with see the bank transfer the debt from its branded credit card programme in the US to Blackstone’s credit and insurance segments, which were consolidated last September. Barclays says the transaction is part of a move to release […]


Channels

Diamond Trust Bank Uganda partners TerraPay to enhance cross-border transfer processes

February 27, 2024

Via: FinTech Futures

TerraPay says the partnership will enable the bank to “facilitate direct account deposits from any part of the world”, allowing customers and expatriates residing outside of the country to send “real-time money transfers to their loved ones in Uganda“. Willie […]


News

Citi taps JPMorgan veteran to lead banking unit

February 26, 2024

Via: Banking Dive

Citi has appointed Viswas Raghavan as head of banking and executive vice chair, CEO Jane Fraser said in a memo Monday. Raghavan will oversee Citi’s investment, corporate and commercial banking businesses, which is one of the company’s core units. He […]


Capital and Risk, Liquidity

EUR/USD Testing 200-SDMA Resistance, EUR/GBP Slipping Into Support

February 23, 2024

Via: DailyFX

German GDP fell by 0.3% in Q4 2023 compared to the third-quarter, and by 0.4% on the same quarter a year ago, data released by the Federal Statistics Office (Destatis) today confirmed. “The German economy ended 2023 in negative territory. […]


Capital and Risk, Credit

Commerce Bank taps Temenos for loan origination solution

February 22, 2024

Via: FinTech Futures

Temenos, which has recently been forced to refute allegations made by Hindenburg Research of client dissatisfaction and accounting irregularities, claims its Infinity system will provide the US private bank with increased operational efficiency and personalised customer experiences. Commerce says it […]


Activity, Corporate Banking

The Top Trends in Corporate Banking You Need to Know About

February 22, 2024

Via: TechBullion

As the business world continues to evolve, so too does corporate banking. From digital transformations to innovative financial solutions, staying ahead of the game is essential for success in today’s competitive market. In this blog post, we’ll explore the top […]


Capital and Risk, Credit

Neon Money Club launches dating app for those with good credit

February 21, 2024

Via: Banking Dive

On Valentine’s Day, fintech Neon Money Club launched an app to help financially like-minded people find love. Potential suitors will find one unusual hurdle prior to swiping right, though: They must have at least a 675 credit score. The app, […]


Regulations

Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls

February 20, 2024

Via: FinTech Futures

The regulator has extended the stay of its special representative at Deutsche Bank until 30 October 2024 to report on and assess the progress of the bank’s implementation of safeguards against money laundering and terrorist financing. The representative was first […]


Regulations

JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits

February 20, 2024

Via: FinTech Futures

The US bank first acquired a 48.5% stake in Viva Wallet in December 2022 in an effort to tap the European payments market, with WeRealize, led by Viva Wallet founder Haris Karonis, retaining the remaining share. However, reports have suggested […]


Activity, Retail Banking

New York Fed Bank analyzes BNPL usage

February 19, 2024

Via: JD Supra

On February 14, the Federal Reserve Bank of New York (NY Fed) published a blog post evaluating different households’ use of buy now pay later (BNPL) products, which it generally described as “loans that are payable in four or fewer […]


Capital and Risk, Trading

Historic Rate Rise on Track Despite Recession, USD/JPY Contained

February 19, 2024

Via: DailyFX

Markets have not been deterred by the fact that Japan has entered into a recession, still indicating a high probability that the Bank of Japan will vote to hike interest rates by 0.1% to exit its long-standing negative interest rate […]


Activity, Capital and Risk, Credit, Retail Banking

US Bank partners Pagaya Technologies for inclusive lending with AI

February 16, 2024

Via: FinTech Futures

The partnership will see the bank adopt its partner’s embedded lending technology and credit intelligence network to induce a “second review” of a loan application should the applicant fail to meet its traditional lending requirements the first time around. A […]


News

Fortune names U.S. Bank One of the 2024 World’s Most Admired Companies

February 15, 2024

Via: Yahoo

Fortune magazine again recognized U.S. Bank as one of the 2024 World’s Most Admired Companies, naming it No. 1 in the Superregional Banks category for the 14th consecutive year. Within the Superregional Banks industry category, U.S. Bank topped the list […]


Capital and Risk, Credit

2023 Year in Review: Credit Reporting

February 15, 2024

Via: JD Supra

The CFPB’s announcement of a proposed rulemaking to remove medical bills from consumers’ credit reports, as well as the special focus placed on medical debt in its annual report, indicates that reporting medical debt will continue to be a priority. […]


Capital and Risk, Trading

Mining Your Own Business: Tax and Estate Planning with Crypto

February 14, 2024

Via: JD Supra

Cryptocurrency, a digital form of currency that uses cryptography for security, has become a significant part of the global financial landscape. As such, it has also become an important consideration in estate planning. This Dechert OnPoint provides an overview of […]