Lloyds Banking Group reportedly has rolled out a new generative AI-powered knowledge hub to reduce the time it takes employees to find information and respond to customer queries. The system, known as Athena, is the U.K. bank’s first major deployment of generative artificial intelligence (AI),...
British FinTech Starling Bank is reportedly considering listing on the U.S. markets. Declan Ferguson, the bank’s chief financial officer, said in an interview with the Financial Times (FT) Tuesday (July 15) that Starling was mulling an American listing, as it could potentially reach a higher...
Federal Reserve Financial Services (FRFS) completed its previously announced adoption of the ISO 20022 message format for the Fedwire Funds Service. It did so in a single-day implementation on Monday (July 14), according to its ISO 20022 implementation center, as it said it would do...
Community banks in Texas made, matched and facilitated donations to help victims during the ongoing flooding that began in the state on July 4. Fredericksburg, Texas-based Security State Bank & Trust (SSB&T) said in a Thursday (July 10) post on LinkedIn that it invited customers to visit their...
It’s not a great time to be a smaller bank in the U.S. That’s according to a report Monday (July 14) by The Wall Street Journal, citing recent data showing that while the country’s banking giants are flourishing this year, regional lenders are having a tougher time....
In his 2024 annual letter to shareholders, released April 7, JPMorgan CEO Jamie Dimon wrote that “a new battle is brewing. Third parties want full access to banks’ customer data so they can exploit it for their own purposes and profits.” “Contrary to what you...
Watch more: Banks Leverage Merchant Services to Win Deeper Customer Relationships The banking industry, perennially in flux, must modernize legacy systems while navigating an increasingly competitive landscape. It’s a bit like changing the tires on a moving car. Even in 2025, financial institutions are still...
JPMorgan has reportedly told FinTechs it will begin charging for access to customer bank info. That’s according to a report Friday (July 11) from Bloomberg News, which noted these fees from the largest American bank could amount to hundreds of millions of dollars, threatening the...
Qonto, a finance management solution for small and medium-sized businesses (SMBs) and freelancers, has submitted a banking license application with France’s banking supervisor, the ACPR. If a license is granted, it will enable Qonto to offer broader lending, savings and investment capabilities, the company said...