JPMorganChase is accelerating the rollout of the affluent banking offering it introduced late last year. Two of these J.P. Morgan Financial Centers opened in late 2024, and now 14 more will officially open this week, the bank said in a Tuesday (May 27) press release....
Citi Handlowy, a Polish banking business that is majority-owned by a Citigroup subsidiary, plans to sell its consumer banking business to VeloBank S.A., a Poland-based universal bank. The transaction, which is expected to close by mid-2026, subject to customary conditions, is the latest of the sales and...
Mastercard has teamed with Bahrain-based ila Bank to help it introduce loyalty programs. The partnership, announced Tuesday (May 27), is centered around things like dining, travel and luxury shopping, while also employing enhanced fraud solutions and privacy protection. “ila has always been about the customer,” Mohamed Almaraj, the...
We’re not quite at the halfway point of the year — that will come June 30 — but the long weekend offers time to pause and reflect on some significant developments within banking. In just the past few months, and in change fomented by a...
Malaysia-based CIMB Bank has selected ACI Worldwide’s payment solution to bring together all account-to-account (A2A) transactions on a single platform. The platform will include automated clearing house (ACH), real-time gross settlement (RTGS) and cross-border payments, the companies said in a Thursday (May 22) press release. CIMB Group...
Italy’s banking industry has reportedly seen seven merger and acquisition deals underway or recently concluded. Some of the deals are interrelated, Reuters reported Friday (May 23). The deals include UniCredit’s offer to buy Banco BPM that was announced Nov. 25; Banco BPM’s acquisition of fund manager Anima Holding that was...
In recent months, nonbanks have been applying for banking charters. Against a backdrop where de novo activity has been muted through the past several years, regulators have been moving to ease the bank application process. In a speech earlier this year, FDIC Acting Chairman Travis...
The digitization of money, and the movement to decentralized finance, begs the question: What happens to financial institutions, central banks and central banking policy? The banking system itself may seemingly be upended by stablecoins, cryptocurrencies and the prospect of digital dollars. The landscape is still...
Ant International has teamed with HSBC on the bank’s tokenized deposit service in Hong Kong. The service is designed to support treasury management via real-time, “always-on” Hong Kong and U.S. dollar payments between corporate wallets held by an HSBC Hong Kong client, according to a Thursday (May 22) press...
