The pandemic threatened to make banking in the brick-and-mortar setting a bit of an anachronism. Lockdowns meant that getting things done at the counter with a teller, or sitting down with a financial representative, was either impossible or took longer than getting things done online....
J.P. Morgan Chase, one of the largest banks in the United States, reportedly plans to open more than 500 new bank branches over the next three years. The move aims to expand the bank’s presence in areas where it lacks representation, Reuters reported Tuesday (Feb....
Banks tightened their standards on loans to both businesses and households in the fourth quarter. They also saw lower demand for lending during that period, the Federal Reserve reported Monday (Feb. 5). “While banks, on balance, reported having tightened lending standards further for most loan categories in the...
Open banking is set to change the world. But viewed through the lens of what’s happened so far, and through the lens of the United Kingdom’s experience, the road to transformation in payments and financial services appears long and bumpy. Differing Approaches And, as ever,...
Regional banking shares in the United States experienced a significant decline for the second consecutive day Thursday (Feb. 1). The sell-off was triggered by New York Community Bancorp’s (NYCB) report, released Wednesday (Jan. 31), on the challenges it faced in its commercial real estate portfolio, which...
New York Community Bancorp (NYCB) shares closed down 38% Wednesday (Jan. 31) following its announcement of a dividend cut and an unexpected loss. This news surprised investors who had considered NYCB one of the winners of the 2023 crisis that saw the downfall of Signature Bank,...
BNY Mellon has unveiled its new cash management solution, called Virtual Account-Based Solutions. This offering aims to provide clients with enhanced access and control over their cash administration activities and reporting capabilities, the bank said in a Monday (Jan. 29) press release. The Virtual Account-Based...
America’s regional lenders say they’re emerging from the shadow of Silicon Valley Bank. That bank’s collapse last year sent shockwaves through the industry, but now, executives at mid-sized banks told the Financial Times (FT) Monday (Jan. 29), the pressure to keep depositors from leaving has begun to...
Lloyds Bank is reportedly eliminating 1,600 jobs amid an increased focus on digital banking. The British lender also plans to create 830 new jobs for its “relationship growth” team to understand customers’ financial aims and offer services at branches, via video meetings and over the phone, a Lloyds spokesperson...
