The head of Deutsche Bank says merging with Commerzbank is not a priority. In an interview with CNBC Thursday (Jan. 18), Deutsche Bank CEO Christian Sewing seemed to quash recent — and unconfirmed — reports that his company was in talks to merge with fellow German financial institution Commerzbank. “I...
British grocer Sainsbury’s is planning to slowly but surely phase out its banking business. The move follows a strategic review of the company’s banking arm, the supermarket chain said in a statement Thursday (Jan. 16), which noted Sainsbury’s is weighing several options on how to proceed with its exit from...
Banking software provider Temenos has launched a program to help banks modernize. The Temenos LEAP program is designed to facilitate a seamless transition to the latest Temenos platform and accelerate the journey to the cloud and software-as-a-service (SaaS), the company said in a Wednesday (Jan. 17)...
Deutsche Bank has reportedly resumed merger discussions with fellow German financial institution Commerzbank. The two companies had called off their initial plans to merge five years ago. But now, Reuters reported Monday (Jan. 15), uncertainty in the bank sector and Germany’s need to shore up its budget has renewed speculation about...
The initial headlines and initial takes on big bank earnings may have focused on the state of the consumer, on card spending, especially. But there’s data to be gleaned for the reports, too, and in the earnings supplements, for a read across to the state...
Goldman Sachs is reportedly increasing its efforts to court ultra-rich clientele. The banking giant has been more focused on lending to private wealth customers — those with an average of $60 million deposited, The Wall Street Journal (WSJ) reported Sunday (Jan. 14). In addition, the...
As technological advancements continue to revolutionize the financial industry, data privacy and security continues to take center stage, shaping consumer preferences and challenging financial institutions (FIs) to deepen their commitment to ensuring the confidentiality and protection of personal and financial data. In the “Credit Union...
The Federal Reserve’s emergency lending program, known as the Bank Term Funding Program (BTFP), has reportedly become a source of “easy money” for banks. Established in response to the 2023 banking crisis, the BTFP was initially aimed at restoring confidence among depositors and providing banks...
After two years of persistent inflation and economic uncertainty, consumers have adopted a range of conservative attitudes across consumer products and services. This includes seeking bargains more proactively online, shopping in low-cost shops for clothing or grocery items, and leveraging buy now, pay later (BNPL)...
