Tag: banking

February 2, 2023

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit. Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, […]

February 2, 2023

Given the recent volatility and “structural vulnerability” within the cryptosphere, the government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance. Economic secretary to the Treasury Andrew Griffith says that while the government is […]

February 1, 2023

FNZ acquired Swiss private banking technology firm New Access for an undisclosed sum last year, which provides a scalable and modular “core-to-digital” banking tech suite designed to meet the specific requirements of the private banking and wealth management industry. Bergos […]

February 1, 2023

Trust Bank will make use of FIS’ Open Payments Framework offering to facilitate all its payment transactions, including traditional and real-time payments. FIS says its cloud-native solution will make payments “safer and faster” for Trust Bank’s customers, as well as […]

January 31, 2023

Over the past few years, numerous states have imposed interest rate caps on consumer credit. In recent blog posts, we discussed the efforts of both Michigan and New Mexico to impose a 36% annual interest rate cap. Last year, Congress […]

January 30, 2023

Following the investment, Monument, which is regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), says it is looking to expand its product suite and services to cater to the mass-affluent both in the UK and globally. […]

January 27, 2023

In an internal message shared with Luno employees, Marcus Swanepoel, the company’s co-founder and CEO, cites the global economic downturn and an “even bigger” downturn in the tech sector, as well as a crypto winter “with a series of shocks” […]

January 26, 2023

Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon. Roughly 42% of economic losses were covered by public and private insurance entities, which translates into […]

January 26, 2023

Morgan Stanley is penalizing individual bankers for conducting company business on messaging platforms such as WhatsApp, in connection with an investigation by regulators that drew $1.8 billion in fines last year from 11 Wall Street institutions. The bank is either […]

January 25, 2023

The total funding is made up of a mix of revolving credit facility capacity and new term loan funding. The revolving credit facility has been provided by Barclays ($100 million) and Angelo Gordon ($60 million), and the $100 million in […]

January 25, 2023

Will it be tokenisation? The metaverse? A new revolutionary payment mechanism? Or something else more abstract? The opportunities are endless… but one concept dominates the retail banking world and continues to be discussed year in year out: how can banks […]

January 24, 2023

U.S. Bank announced today that it has received the highest rating, “Outstanding,” for its recent Community Reinvestment Act (CRA) examination from the Office of the Comptroller of the Currency (OCC). The examination period was January 1, 2016, through December 31, […]

January 23, 2023

This week the US government reached its 31.4 trillion dollars borrowing limit, better known as the “debt ceiling.” This led to a showdown among House Republicans, President Biden, and congressional Democrats. House Republicans are demanding that President Biden and Senate […]

January 23, 2023

Typically, they are high-value/high-volume interbank payments. It is this wholesale, interbank foreign exchange (FX) market that provides the fuel and liquidity for domestic and international retail schemes to operate, but in doing so it is open to what’s known as […]

January 20, 2023

U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in […]

January 20, 2023

As the war in Ukraine rages on, recent advisories from financial crime agencies in the United States and the United Kingdom indicate heightened scrutiny on financial activity of Russian individuals and entities, including persons closely connected to the Kremlin. The […]

January 19, 2023

UBS Chairman Colm Kelleher said traditional finance firms were “systemically safe” after years of increased regulation, but guardians of global financial markets had further to go to eradicate the risks posed by the non-banking sector. “Regulators have – with respect […]

January 18, 2023

In recent years, there has been an increase in the number of job positions for chief customer experience officers across financial institutions (FI) of all sizes. Those roles were created to help an FI focus outwardly and represent the customers’ […]

January 18, 2023

Reuters reports the firm outlined a pre-tax loss for the unit, which includes its transaction banking, credit card and fintech businesses, of $1.2 billion for the first nine months of 2022. This follows a $1.05 billion loss in 2021 and […]

January 17, 2023

President Joe Biden’s Labor Department recently announced a new rule that will permit money managers to play politics with trillions of dollars of people’s retirement savings. The administration is pushing environmental, social and governance investing, which allows retirement fund managers […]