January 23, 2024
Banks Tap AI to Navigate Regulatory Maze of Managing Vendor...
Michael Berman, CEO of Ncontracts, told PYMNTS that financial institutions (FIs) are grappling with the increasing burdens of vendor lifecycle management. There can be what Berman termed “dire consequences” for...
January 19, 2024
LoanDepot Continues to Restore Business Operations Amid Cybersecurity Breach
LoanDepot continues to deal with a cybersecurity incident that began Jan. 8. Customers said on social media and forums that they have been unable to access their online accounts, submit...
January 19, 2024
Regions Financial Sees Soft Loan Demand Due to Cautious Customers
Regions Financial saw loan demand remain soft in the fourth quarter as customers continued to be cautious. Average and ending loans decreased “modestly” compared to the previous quarter, according to a...
January 18, 2024
Deutsche Bank CEO Brushes Off Commerzbank Merger Rumors
The head of Deutsche Bank says merging with Commerzbank is not a priority. In an interview with CNBC Thursday (Jan. 18), Deutsche Bank CEO Christian Sewing seemed to quash recent — and unconfirmed — reports...
January 18, 2024
UK Grocer Sainsbury’s Announces Plan to Exit Banking Business
British grocer Sainsbury’s is planning to slowly but surely phase out its banking business. The move follows a strategic review of the company’s banking arm, the supermarket chain said in a statement Thursday (Jan. 16),...
January 18, 2024
Non-Price Effects in Mergers: Examples from Federal Trade Commission Enforcement,...
Critics of current merger enforcement say it fails to take account of the non-price effects of mergers. This criticism comes from those who believe the courts ask plaintiffs, including the...
January 17, 2024
Most Customers Switch Banks for Better Digital Experiences Despite AI...
The increasing popularity of mobile banking apps, especially among younger generations, has driven the rise of digital banking. In fact, the convenience and ease of use offered by these apps...
January 17, 2024
JPMorgan Ups Cyber Defenses as Scam Attacks Rise
Banking giant JPMorgan Chase is not immune to the recent, global surge in cybercrime. Speaking at the World Economic Forum’s summit in Davos Switzerland, Mary Callahan Erdoes, head of the bank’s asset...
January 16, 2024
Why Digital-First Banking Does Not Mean Digital-Only
Digital banking has exploded in popularity in recent years, thanks in large part to younger users forming an ever-growing share of the total financial customer base. Studies indicate that 60%...
