Sections
Banking
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1.4KWells Fargo Sets New Requirements For Jumbo Mortgages, May Reduce Workforce
As it tightens the requirements for some mortgage transactions, Wells Fargo is mandating that new customers seeking to refinance a jumbo mortgage take $1...
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1.5KPPP Loans Could Be Boon For Banks In Processing Fees
Banks arranging government loans intended for businesses hurt by the pandemic could reap as much as $24 billion in associated fees, The...
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6.4KGeneral Atlantic’s Dr. Jud Linville On FinTechs And What’s Ahead For Banks
The digital transformation of financial services that began well before the pandemic has only accelerated in recent months. There’s no shortage of...
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1.8KGermany’s Deutsche Bank Offers A Lifeline To Wirecard Bank
Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German...
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2.0KBIS To Open Four New Innovation Hubs Over Next Two Years
The Bank for International Settlements (BIS) Innovation Hub is planning on adding four new locations in Europe and North America, according to...
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1.5KBig Bank Stress Test Show Loan Losses Could Hit $560B-$700B
The Federal Reserve Board indicated that financial institutions (FIs) can stay strong even as they weather turbulent economic conditions, as it unveiled...
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2.0KOrange Bank May Replace German Payments Provider Wirecard
As the fallout from Wirecard’s missing cash scandal unfolds, an Orange executive said the Paris-based lender and telecommunications company’s banking unit may...
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4.7KUS Banks Saw $2T Increase In Deposits During Pandemic
A record $2 trillion has been deposited into U.S. bank accounts since the coronavirus first hit the U.S. in January, according to...
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2.9KGoldman Sachs’ Marcus Pauses Adding Some UK Accounts To Avoid ‘Ring Fencing’ Rules
Goldman Sachs’ consumer digital bank Marcus is facing a nice problem to have (at least on the surface) in Britain. News emerged...
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3.5KMonzo To Cut 120 Jobs Due To Pandemic Fallout
U.K. digital bank Monzo will cut 120 jobs due to the impact of the coronavirus, Reuters reports. The news came from an...
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8.8KHSBC To Restart Restructuring, Eyes Deeper Job Cuts
The biggest reorganization in HSBC’s history could get even larger as more cuts are requested by the board following the economic fallout...
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2.6KIMF Report: Banking Profits Might Not Exceed Cost Of Equity In 2025
A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher...
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3.4KNew Stimulus Bill Would Give Cannabis Firms Bank Access
The U.S. government stimulus program has sought – with urgency – to help keep smaller firms across the country hanging on until...
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5.8KGreen Dot’s Dan Henry And Daniel Eckert On Building A Bank for The Mass Market
Many firms have been navigating a lot of change of late given the small matter of the international health crisis, but even...
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3.7KFed: US Banks Vulnerable To Loss From Pandemic
U.S. banks could be at risk for massive losses as the pandemic strains their resources, the Federal Reserve warned in its semi-annual...
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5.0KGreen Dot and the Changing (Digital) Face of Banking
If the landscape of how we bank is changing – toward digital-first firms, of course – the question arises: Just what is a...
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6.7KVirtual Tellers And Workhorse ATMs: Banking’s New (Digital-First) Normal
The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal”...
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4.4K‘Green Shoots’ Or Scorched Earth: What We’ve Learned From Banks And Payment Networks’ Latest Earnings Calls
Amid the coronavirus pandemic and recessions, the old saying in life might hold true in business, and in particular for firms that...
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4.4KSavings Rate Surges To Highest Level In 39 Years
The shaky coronavirus economy has promoted people to sock money at levels not seen since 1981. A Bureau of Economic Analysis report...
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7.3KMonzo Ahead Of Revolut For US Banking License
Monzo Bank Ltd., the British digital bank, has taken the next step to expand into the U.S. market, where it has already...
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5.6KSoFi Deals Point To Question: ‘Just What’s a Bank?’
The rise of FinTech, the increasing globalization of finance — and even ravages of the coronavirus, which is making us all bank...
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2.2KSmartStream Automates Reconciliation For Jumhouria Bank In Libya
Financial transaction management firm SmartStream has announced new programs to help automate processes for Jumhouria Bank in Libya. With help from SmartStream,...
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2.7KSome Banks Seize Stimulus Money To Cover Customer Overdrafts
Some cash-strapped people are losing some or all of their coronavirus stimulus money because their bank accounts are overdrawn. “For weeks, we...
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5.7KSantander FinTech PagoFX To Compete With TransferWise
Madrid-based Santander, the world’s 16th-largest bank, is set to roll out PagoFX, a new FinTech spinout intended to compete with cross-border money...
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2.2KPandemic Set To Further Erode EU Banks’ Profitability
The European Union (EU) has enough liquidity to stay afloat during COVID-19, but profitability could sink as the pandemic worsens, according to...
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3.0KThe Many Answers To ‘What Is A Bank?’
The definition of a bank was more or less unchanged for centuries. Then, within a matter of a few years, the old...
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7.5KBanking On A Rough Earnings Season For Banks
Three months seems a lifetime ago, pre-coronavirus pandemic, pre-recession, pre-lockdown, pre-bailouts. The stark changes in all facets of daily life for the...
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3.3KTrend Talk: FIs And FinTechs Can Operationalize Aid Fast, Get Liquidity Flowing
Contradiction, confusion and, glaringly, the absence of promised government cash has intensified the crisis now gripping American businesses, from Main Street to...
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9.0KBanks, Omnichannel And The New Commerce ‘Nirvana’
The COVID-19 pandemic is changing the way financial ecosystems are evolving — and the speed at which they are changing. To that...
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9.1KThe Two Things Keeping PPP Funds From Flowing Into SMB Bank Accounts
For the last week, a veritable tidal wave of small- to medium-sized business (SMB) owners have been lining up to apply for Paycheck Protection Program...
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7.5KLeveraging Open Banking To Build The New Trust Ecosystem
Everyone wants to build a smoother, faster and more efficient financial services journey — that isn’t a point of disagreement or friction....
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4.0KUS Eases New Banking Rule On Reporting Bad Loans
Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster...
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4.8KHow Banks Can Tap Trust As Their Foundation For Innovation
What is a bank? As recently as a decade ago, that was a relatively straightforward question that the average school-age child could...
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4.3KHelping Small FIs Make Banking Services As Seamless As Taking An Uber
In the age of digital commerce, legacy financial institutions (FIs) have ceded ground to tech-savvy upstarts. To regain some of that ground,...
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3.3KFed Shifts Supervisory Approach Amid COVID-19
Amid the coronavirus, the Federal Reserve Board is shifting its supervisory approach. The board said in a press release that it “recognizes that...
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5.5KHelping FIs Maximize Card Portfolio Returns In Volatile Times
Consumers are navigating the vagaries of a brave new world dominated by the coronavirus. Cardholders’ behavior may shift on a dime. That means...
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4.9KKeeping The AI On ATMs
Consumers depend on ATMs but like any mechanical device, they can break down. Rich Johnstun, head of service technology and innovation at...
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4.1KHSBC Overhaul May Be Delayed Over COVID-19
Noel Quinn has stepped into a full-time job as CEO of HSBC, and his first tasks in that job will involve strategizing...
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9.6KFDIC Approves Square For Banking License
The Federal Deposit Insurance Corporation (FDIC) gave the green light to an application from the FinTech firm Square to create a de...
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2.2KDigital Banking Service One Combines Accounts
One, a new digital banking service in the U.S., is launching with a focus on helping middle class Americans with their finances...
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3.5KICICI Bank To Bail Out India’s Yes Bank
ICICI Bank in India has announced it will initiate a rescue deal with Yes Bank to the tune of up to 10...
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2.6KCoronavirus Is ‘Cross Between 9/11, 2008 Financial Crisis,’ Officials Say
Banking officials are in a panic over the coronavirus as it upturns their revenues, with PJT Partners restructuring specialist Tim Coleman describing...
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7.4KWill Consumers Warm To Subscription Banking?
The era of “challenger” banks has seen many grand promises in terms of innovating on the old banking model to provide consumers...
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2.1KJPMorgan CEO Is Back Home After Surgery
Jamie Dimon, CEO of JPMorgan Chase & Co., is home and recovering after having emergency heart surgery last week, according to a...
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5.2KStandard Chartered Debuts Banking As A Service
Standard Chartered has launched a new “Banking as a Service” solution called nexus that will allow digital platforms, eCommerce operations, social media...
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4.3KOCBC Bank Upgrades ATMs To Cash Checks Instantly
OCBC Bank in Singapore has upgraded its ATMs to accept checks and cash them instantly, according to a release. The bank said...
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4.4KInterest Rates to Pinch Alt Lenders and Digital Banks
Welcome to the unchartered territory for the lending landscape – at least for those who were born and came of age in...
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3.3KHow Banks Can Tap Into The Benefits Of Integrated Receivables
FinTechs are keeping an eye on the needs of banks and their corporate clients in today’s market. Treasurers, in one case, may...
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10.7KHow To Compete With Banks: Start With First Principles
Aristotle may have originated the notion of first principles thousands of years ago, but it would take Elon Musk to add a contemporary...
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5.8KHow FinTech Keeps Banks Focused On Customer Experience With AP Automation
FinTechs are helping banks focus on the customer experience through accounts payable (AP) automation. AvidXchange Senior Vice President of Financial Services Boyce Adams Jr....
