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...
Bank of America is seeing more of its customers falling behind on their credit card payments. Both the net charge-off rate and the delinquency rate of the bank’s BA Master Credit Card Trust II increased in August, though they remain below where they were in the...
Citigroup has reportedly begun the layoff process after announcing a management overhaul on Wednesday (Sept. 13). Support staff in compliance and risk management at the bank are expected to be the most affected, Reuters reported Friday (Sept. 15). Additionally, technology staff working on overlapping functions are also...
Goldman Sachs has reportedly created a “sports franchise” unit within its investment banking division. The new unit aims to provide wealthy clients with the opportunity to invest in sports teams, combining sports mergers and acquisitions with sports financing, The Wall Street Journal (WSJ) reported Friday...
Bank of America is expanding the requirements of its SafeBalance checking account plan. The account, introduced in 2014, lets customers manage their finances with no overdraft fees. Starting in November, the bank announced Wednesday (Sept. 13), accountholders who maintain a minimum daily balance of $500 or more will...
