The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America are expected to report a combined $5.3 billion in net...
Sopra Banking Software (SBS) has launched its artificial intelligence (AI)-enabled core banking system, the SBP Core Platform. The cloud-native platform harnesses the power of cloud technologies and artificial intelligence, the global FinTech company said in a Tuesday (Oct. 10) press release. The SBP Core Platform features an...
The big U.S. banks are reportedly facing a slowdown in lending growth due to rising interest rates, and it is expected to hurt their profits. Net interest income, a key driver of earnings for banks, has been boosted by the Federal Reserve’s benchmark rate hikes...
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising £150 million ($183 million) of new equity and £175 million ($213 million) in new MREL...
The Bank for International Settlements, central banks and traditional financial institutions (FIs) are in the midst of tackling various ways and means of creating and using tokenized bank deposits. And what remains to be seen is whether those initiatives will define competition, or co-existence, with...
J.P. Morgan Chase reportedly wants to expand its startup and venture capital (VC) customer base. Speaking during a conference Monday (Oct. 2), CEO Jamie Dimon said the country’s largest bank is courting these customers, a move that comes in the wake of a series of high-profile bank failures...
U.S. Bank has introduced an online third-party payment/treasury solution marketplace. The bank’s Connected Partnership Network, announced Thursday (Sept. 21), helps corporate treasury teams easily identify and adopt technology connected with the bank, such as treasury management systems and working capital automation tools. “Businesses are increasingly...
Oracle has expanded its cloud banking portfolio to help lenders launch new transaction banking offerings. Those offerings, announced Monday (Sept. 18), include cash management, liquidity management, and virtual account management, part of a suite of services designed to help banks bolster visibility, forecasting, and better control liquidity to...
Silicon Valley Bank’s former owner is reportedly close to selling its venture capital business. SVB Capital has attracted two top bidders, The Wall Street Journal (WSJ) reported Friday (Sept. 15), citing sources familiar with the matter. Those potential buyers include SkyBridge Capital, and Atlas Merchant Capital — both working together...
