Sections
Banking
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1.9KBank of America CEO: Room To ‘Double’ Its US Retail Segment
Brian Moynihan, Chief Executive with Bank of America, is not concerned with overwhelming his industry sector — instead, he believes the banking...
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2.7KGoldman’s Reporting Revamp Spotlights Its Consumer Focus
If you can’t beat ’em, join ’em — at least when it comes to reporting structure. To that end, investment banking giant...
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2.8KReport Shows US Small Towns Lost 14 Pct Of Banks Between 2012-17
Financial institutions have been abandoning American smaller towns in striking numbers over the past decade, presenting a significant economic challenge in the...
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4.6KGoldman Plans To Launch Robo Adviser Next Year
Goldman Sachs is planning to launch digital wealth management services to customers with as little as $5,000 in 2020. The company is...
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4.3KOCC Targets Wells For Loose Pay Controls, Unresolved HR Complaints
The Office of the Comptroller of the Currency (OCC) has said the Wells Fargo Human Resources (HR) department has a rash of...
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4.0KHSBC, Santander To Reimburse Overdraft Fees After Failing To Alert Customers
HSBC and Santander UK will refund the overdraft fees of more than 115,000 customers. The Competition and Markets Authority (CMA) reported that...
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4.8KRobinhood Bags Bank Charter
Robinhood has announced that it giving up on its plans to become a federally insured bank. The stock-trading startup is voluntarily pulling...
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3.6KHow Credit Unions Can Win The FinServ Innovation Game
In addressing the innovation gap that exists between credit unions and their larger financial institution (FI) brethren, credit unions (CUs) may be...
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2.2KBank Branch Closings Take Toll On Rural Communities
More than half of the 3,114 counties in the U.S. lost bank branches between 2012 and 2017, with rural areas feeling the...
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2.4KBarclays’ New Luxembourg Branch To Cater To Global Corporates
Barclays has announced the launch of a new branch in Luxembourg that will provide multinational clients with transaction banking services. The branch,...
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5.1KPeople’s Bank Of China: Hundreds Of Country’s Banks At Risk
This past year has been difficult for Chinese banks, and the country’s central bank, People’s Bank Of China, said that about 13...
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2.8KTech Glitch Causes Late Payments For UK’s TSB Bank Customers
British bank TSB, on the heels of an IT disaster that saw its annual profits wiped out, recently dealt with an issue...
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3.8KCap One Cardholders Can Pay With Points On Amazon
To provide shoppers with an eCommerce points redemption option, Capital One rewards cardholders will soon have the ability to redeem cash back as well...
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1.5KReport: TSB Bank IT Crash Caused By Inadequate Testing
A catastrophic IT crash that affected 2 million customers at TSB and locked them out of their accounts last year was blamed...
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2.5KAnt Financial Could Pursue Digital Banking License In Singapore
Ant Financial Services Group might apply for a virtual banking license in Singapore. “We are actively looking into this opportunity,” Hangzhou, China-based...
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3.7KDeep Dive: The Many Roads To Digital-First Banking
PYMNTS’ Where Will We Bank Next? Survey found that banking customers are increasingly placing a higher value on convenience, personal data security...
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3.1KRegions Bank Makes A Digital Push With The Help Of AI
In the face of growing competition, banks are rethinking legacy processes and digitizing their customer journeys. For Alabama-based Regions Bank, artificial intelligence...
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4.5KGoogle Dives Into DDAs
Google is planning to launch consumer checking accounts next year in partnership with Citigroup and Stanford University, The Wall Street Journal (WSJ)...
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5.9KThe Challenges Challenger Banks Must Overcome To Compete
Challenger banks — financial firms offering something much like banking services, and looking to compete with old-school banks — are a new...
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5.2KBoA Corporate Client Completed $1.6B Mobile Payment
Bank of America offers its corporate clients a unique perk. They can make payments in the billions of dollars on smartphones using...
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3.0KGreek Competition Regulators Raid Banks In Collusion Probe
An independent competition authority in Greece has raided a number of major Greek banks over an investigation into collaboration between the institutions,...
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2.2KItaly Opposes German Proposal For EU Banking Union
A German proposal for the EU’s banking union is being opposed by Italy, which said it would impact banks’ ability to compete,...
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2.0KDeutsche Bank Backs Idea For Stronger Banking Union
Deutsche Bank Deputy Chief Executive Officer Karl von Rohr said the bank welcomes a finance ministry proposal from Germany that would strengthen...
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2.0KHow Integrated Receivables Connect Corporates With Data And Analytics
FinTechs are connecting banks with tools such as integrated receivables that they can provide to their corporate customers — and offer them...
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3.4KIBM And BofA Team On Bank Cloud Computing Platform
Bank of America has teamed with IBM and its regulatory compliance arm, Promontory Financial Group, to create a cloud computing platform that has...
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4.2KBuilding A Challenger Bank That Actually Challenges Traditional Banking
There are several reasons why consumers might complain about the services provided by their traditional banks. Perhaps the worst, HM Bradley CEO...
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3.8KSouth Korea Starts Pilot-Launch Of Open Banking System
South Korea has started a pilot-testing program for open banking, according to a release. The company started testing on Wednesday (Oct. 30)....
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3.3KMarqeta Reserve Gives Issuers Options To Prefund Digital Card Programs
Marqeta, a card issuing platform, has introduced a new service called Marqeta Reserve Financing, which is designed to help businesses incorporate a...
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3.7KJack Henry’s Payments Hub Connects 15 FIs To RTP Network
The Clearing House (TCH) reported that 15 Jack Henry & Associates financial institutions (FIs) will use JHA PayCenter to connect to the...
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2.4KWhy The Time Is Right For Banks To Tap Into Integrated Receivables
FinTech firms are delivering technology solutions to banks that can help them maintain their customer relationships — and generate income. As it...
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2.3KCitigroup Taps Jane Fraser To Lead Consumer Banking Division
Citigroup veteran Jane Fraser was named to lead the company’s consumer banking division following an upheaval in the ranks that puts her...
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2.2KBarclays Will Allow Customers To Continue PO Cash Withdrawals
Barclays revealed that it will not withdraw from a partnership that allowed customers to withdraw cash at branches of the U.K. Post...
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3.7KStudy: FIs Must Be Stronger To Prepare For Economic Slump
McKinsey’s annual review of global banks shows that financial institutions are generally not strong enough to weather an economic slump, Bloomberg reported...
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3.5KNo More Free Lunch For Swiss Bank Account Customers
Swiss banks are going to start charging their millionaire customers to store money, according to a report by CNN. On Friday (Oct....
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3.2KDigital Bank Chime Suffers Outage Affecting 5M Customers
Online banking startup Chime has been hit with an outage that has left its 5 million customers with no access to their...
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2.5KGoldman Employee Compensation Lowest In Over A Decade
Goldman Sachs has lowered employee compensation as it focuses more on offerings like the Apple Card to help it continue to grow...
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2.1KBOE Head: Central Banks Provide Stability In FinTech Era
The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete....
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2.8KBarclays Customers Lose Access To Post Office Cash Withdrawals
Barclays Bank is no longer going to let its customers withdraw cash from U.K. post offices beginning in January, and the decision...
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4.2KCiti Appointed To Service $80B In Assets For Victory Capital
Citi has been appointed by Victory Capital to provide fund administration, custody, ETF services and securities lending for its most recent acquisition....
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6.2KGoldman Beefs Up Marcus Savings Offerings
Saga, a financial company geared to individuals over 50, has teamed up with Goldman Sachs consumer bank Marcus to offer two new...
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2.5KRBI Claims India Banking Is ‘Safe And Stable’ After PMC Crisis
The Reserve Bank of India is trying to reassure savers that all is well after a recent crisis involving Punjab and Maharashtra...
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7.2KUS Banks Expected To Lose 200K Jobs To Technology
In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has...
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4.6KUK Challenger Banks Struggle To Compete
Challenger banks in the U.K. are having a hard time competing with the country’s big four financial institutions. While challengers such as...
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9.8KGoldman’s Marcus Has Lost $1.3B Since 2016
Consumer bank Marcus, launched by Goldman Sachs in 2016, has lost $1.3 billion despite buying startups and building call centers in Utah...
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2.2KWhat’s Next As Scharf Takes The Helm At Wells Fargo
And now begins some more heavy lifting. Capping a search that lasted six months, Wells Fargo has brought in an outsider —...
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4.1KWill The SAFE Banking Act Make Life Riskier For Banks?
Since California first declared marijuana “legal” for medical consumption in 1996, transactions involving legally permitted cannabis have been complicated things. In fact,...
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4.3KHouse Passes SAFE Banking Act, Aiming To Give Cannabis Businesses Banking Access
The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. 25)....
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3.1KUAE Sees First Digital Bank For SMBs
Emirates banking group Emirates NBD has announced the creation of E20., a digital bank for the region, according to a release by...
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1.8KMetro Fails To Attract Investors To Bond Issue
Metro Bank in the U.K. jettisoned a $250 million pound bond issue on Monday (Sept. 23), after not enough investors picked up...
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3.3KBoA Cooperating With CFPB Probe Into Unauthorized Credit Card Accounts
In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as...
