Citi Handlowy, a Polish banking business that is majority-owned by a Citigroup subsidiary, plans to sell its consumer banking business to VeloBank S.A., a Poland-based universal bank. The transaction, which is expected to close by mid-2026, subject to customary conditions, is the latest of the sales and...
Mastercard has teamed with Bahrain-based ila Bank to help it introduce loyalty programs. The partnership, announced Tuesday (May 27), is centered around things like dining, travel and luxury shopping, while also employing enhanced fraud solutions and privacy protection. “ila has always been about the customer,” Mohamed Almaraj, the...
We’re not quite at the halfway point of the year — that will come June 30 — but the long weekend offers time to pause and reflect on some significant developments within banking. In just the past few months, and in change fomented by a...
Apparently, the days of Rule 1033 are numbered. In fact, as of Sunday (May 25) they might be down to four, as the Consumer Financial Protection Bureau’s (CFPB) general counsel indicated late Friday that it will petition a U.S. District Court in Kentucky on May...
Malaysia-based CIMB Bank has selected ACI Worldwide’s payment solution to bring together all account-to-account (A2A) transactions on a single platform. The platform will include automated clearing house (ACH), real-time gross settlement (RTGS) and cross-border payments, the companies said in a Thursday (May 22) press release. CIMB Group...
Italy’s banking industry has reportedly seen seven merger and acquisition deals underway or recently concluded. Some of the deals are interrelated, Reuters reported Friday (May 23). The deals include UniCredit’s offer to buy Banco BPM that was announced Nov. 25; Banco BPM’s acquisition of fund manager Anima Holding that was...
In recent months, nonbanks have been applying for banking charters. Against a backdrop where de novo activity has been muted through the past several years, regulators have been moving to ease the bank application process. In a speech earlier this year, FDIC Acting Chairman Travis...
Moneta Money Bank, one of the largest retail banks in the Czech Republic, is using the latest technologies to reshape how it connects with customers amid competition for consumer wallets. Working with Amazon Web Services (AWS), data and artificial intelligence solutions provider SAS and technology...
The digitization of money, and the movement to decentralized finance, begs the question: What happens to financial institutions, central banks and central banking policy? The banking system itself may seemingly be upended by stablecoins, cryptocurrencies and the prospect of digital dollars. The landscape is still...