New Zealand is reportedly examining competition in the banking sector. As Reuters reported Wednesday (June 12), the decision to investigate the industry follows a draft report earlier this year which found that New Zealand’s four main banks offered limited competition in the personal banking space. “Promoting robust...
Say goodbye to BNY Mellon and hello to BNY. The bank — America’s oldest — is updating its logo and taking BNY as its new name, it announced in a Tuesday (June 11) press release. Its legal parent name will remain The Bank of New York Mellon Corp....
The growing dependence of banks on Big Tech companies for artificial intelligence (AI) capabilities is reportedly raising concerns about new risks. This dependency of the financial industry on a limited number of tech companies is seen as one of the biggest risks for banks, European...
U.S. Bank has launched a partnership with Greenlight aimed at increasing financial education. The collaboration will give eligible U.S. bank customers complimentary access to Greenlight’s debit card and money app, designed to help families teach their children financial skills, according to a Thursday (June 6) new release. The...
United Kingdom neobank Starling reportedly does not plan to reapply for a European Union banking license. Instead, the company will try to expand internationally via its software business, incoming CEO Raman Bhatia told CNBC Wednesday (June 5). “I am very bullish about this approach around...
Card spending is volatile, and commercial real estate loans look shaky. Rules on how much capital must be held on banks’ balance sheets are under continued debate. For the largest, traditional players in financial services, some top-line momentum can be found in helping transform client...
The Federal Deposit Insurance Corp.’s (FDIC) first-quarter assessment on the banking industry takes note of several trends: Declining loan demand, delinquencies that were higher than a year ago … … and an increase in “problem” banks, even as uninsured deposits grew in the first quarter....
The impact of Synapse’s bankruptcy continues to spiral outward, extending now to FinTech startup Yotta. For the past three weeks, 85,000 of the company’s customers — holding a total of $112 million in savings — have been locked out of their accounts, CNBC reported Sunday...
As payments shift from traditional and manual workflows to automated, digital ones, everything will change. And that’s a good thing for global commerce. “Across the global landscape, three things are driving payments modernization,” Rossana Thomas, vice president and general manager of Enterprise Payments Platform at...
