Tag: Featured

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 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 31, 2023

Ambiguity is a given in the environment many financial institutions find themselves in, as neither stability nor significant growth can be guaranteed. With rising inflation, uninspiring GDP growth, tightening central bank interest rates, turbulent geopolitics, and numerous COVID-19 variants, bankers […]

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 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 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

On Sunday morning, Kyle Starks woke up to floodwaters that reached the door of his Jeep after yet another heavy rain storm drenched California. Emergency crews showed up with boats to float Starks and other residents of his rural mobile […]

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 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

Private flood insurance accounts for over 40% of California’s entire flood market—a significantly larger share than in the other leading states, according to AM Best. A new AM Best commentary notes the ongoing flooding issues in the state will present […]

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 […]

January 12, 2023

According to the lawsuit, filed in December last year in the US District Court in Delaware, Javice allegedly claimed Frank – a student loan application fintech – had more than 4.25 million student users but had used “synthetic data” techniques […]

January 11, 2023

The euro extended yesterday’s gains against the British pound through ECB officials beginning yesterday. The hawkish narrative was reinforced by one of the more aggressive officials in Isabel Schnabel while today’s addresses included the ECB’s Villeroy who stated the need […]

January 10, 2023

Considering that cryptocurrencies have a positive impact on financial inclusion, it is odd then that the UN has expressed its reservations about them. The UN’s Conference on Trade and Development (UNCTAD) called for a halt to the growth of cryptocurrencies […]

January 9, 2023

The $1.7-trillion, 4,155-page omnibus bill passed during the last week of the 117th Congress to fund the government through Sept. 30, 2023 includes over $47 billion for Ukraine, and increases the president’s drawdown capabilities by 291.9% since October 2022. The […]

January 9, 2023

Goldman declined to comment on the reported cuts, but a source within the bank confirmed to Banking Dive the round of cuts will not exceed 3,200. That figure is lower than the 4,000-employee ceiling Semafor and other news outlets reported […]