The Federal Deposit Insurance Corp.’s latest quarterly assessment of the state of the banking industry took note of the resilience of financial institutions in general. However, the report revealed trends that bear watching — particularly as domestic deposits (and as part of that designation, savings...
U.S. Bank is introducing a pair of savings and credit rewards products. Released under the bank’s Bank Smartly program, these offerings are designed to work in tandem to let users maximize credit card rewards and earn more on their savings balances, according to a Wednesday...
Lapses in its anti-money laundering (AML) program continue to cost Toronto-Dominion Bank (TD Bank). The lender announced third-quarter earnings Thursday (Aug. 22) that include a $2.6 billion provision related to a possible investigation into the AML program. This follows a $450 million provision announced during the previous quarter. U.S....
Big banks have been revisiting their branching strategies — branching (slight pun intended) into new markets, covering parts of the country thus far underserved by physical banking locations. In doing so, they can gain ground with the coveted younger generations, particularly Generation Z, which promises...
For banks — and especially for credit unions — the battle with Big Tech for the hearts, minds and wallet share of consumers may seem a more than challenging proposition. After all, Big Tech’s role across all facets of everyday life is pervasive, touching on...
New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that can, conceivably, amp up competition between smaller banks and their larger counterparts. In a Friday (Aug. 9) financial institution letter,...
Embedded banking firm ClearBank expanded from the United Kingdom to Europe. The newly established ClearBank Europe N.V. is headquartered in the Netherlands and has a Dutch banking license. It will offer U.K. and European institutions clearing and embedded banking services across Europe, according to a...
Zafin and 10x Banking have partnered to enable banks and financial institutions to modernize their core systems incrementally. This phased approach makes the implementation less disruptive while delivering immediate value, thereby mitigating risk, maintaining stakeholder confidence and reducing upfront capital expenditures, the companies said in...
FIS has teamed with Curinos to help financial institutions optimize their deposit growth. With this collaboration, Curinos’ deposit optimizing tools will be more accessible to the financial institutions that use FIS’ IBS and Horizon core banking platforms, the companies said in a Monday (Aug. 5)...
