Amid rising revenues and decreased taxes, the Federal Deposit Insurance Corporation (FDIC) announced on Thursday (Feb. 21) that the banking industry pulled in $237 billion in 2018. The agency’s Quarterly Banking Profile also noted that net income for the industry stood at $59 billion, Bloomberg...
Amid the regulators looking into its Estonian money laundering scandal, the U.S. Securities and Exchange Commission (SEC) has reportedly initiated an investigation into Danske Bank. The financial firm said it was “co-operating” with the probe by the U.S. agency that has started along with a U.S....
As Hong Kong gears up to roll out digital banking licenses, a few of the largest banks in the world are set to compete with online firms. The government plans to provide digital banking licenses to companies such as Ant Financial, Tencent, Xiaomi, ZhongAn, and...
Consumers take a somewhat binary view of the features and functions that come packaged as innovative: They either believe those innovations can solve problems and, therefore, embrace them or the consumers go somewhere else that offers legacy features and functions. Get the Full Story Complete...
In Latin America, where roughly 70 percent of the population is unbanked due to traditional banks’ stringent KYC requirements, digital-only challenger banks see an opportunity to increase financial access. In the latest Digital Banking Tracker, Wilobank President Guillermo Francos and systems director Mariano Durán discuss...
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Lloyds Banking Group, the U.K. bank, announced Tuesday (Feb. 19) a partnership with Visa in which the two have launched a new pilot scheme aimed at boosting access to cash. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
There is something of a strange dichotomy when one looks at the types of things bank brands are developing, particularly around mobile and digital banking services, and the kinds of things consumers say they want. Banks’ investments are leaning heavily toward technology upgrades – especially...
Open banking in the U.K. is a reality, bringing far-flung financial data and services to a single point of interface for consumers. To get that done, and to get to know the customer intimately, collaboration is the name of the game, says Bud’s Alan Walsh, head...
