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Banking News

Spain court orders ex-IMF head Rato to be tried for fraud

Madrid - A Spanish court on Friday ordered former IMF head Rodrigo Rato to stand trial for fraud over the failed 2011 listing of Bankia, a bank he led which later needed rescuing by the state.

Spain court orders ex-IMF head Rato to be tried for fraud

Madrid - A Spanish court on Friday ordered former IMF head Rodrigo Rato to stand trial for fraud over the failed 2011 listing of Bankia, a bank he led which later needed rescuing by the state.

New voice-based International Remittance Service

A signal for further automation in banking has been sent, with news that Money2India application users are now able to send money to any bank in India via a voice command to Siri.

Interview: Digital tool to help finance industry processes Special

This month Compliance.ai announced a collaboration tool that helps the finance industry change its manual processes to save money and increase efficiency. To discover more we spoke with the company's CEO Kayvan Alikhani about the technology.

French businessman Tapie sees final appeal rejected

Paris - Flamboyant French businessman and former cabinet minister Bernard Tapie on Monday learned from lawyers he has lost his final appeal against handing back a multimillion euro government payout surrounding his 1993 sale of Adidas sportswear.

UBS pockets 14% profit rise

Zurich - UBS said Friday its net profit climbed 14 percent in the third quarter to 946 million Swiss francs (814 million euros, $946 million) and Swiss banking giant expressed confidence about improving market conditions.

Catalan separatists in cash withdrawal protest

Barcelona - Catalan separatists were flocking to withdraw cash Friday in protest at the central government and at banks who have moved their headquarters out of the Spanish region over its independence crisis.

Goldman Sachs CEO touts Frankfurt for post-Brexit banking

New York - Goldman Sachs chief executive Lloyd Blankfein took to Twitter Thursday to tout Frankfurt's "great" weather among other attributes, but stopped short of naming the German city as a post-Brexit headquarters.

Banks 'two APIs away' from losing customers to mobile apps

Consumers are increasingly interested in mobile payments technology and are attracted to the idea of a centralised digital wallet. A new study by Accenture found smartphone users are "desperate" for a modern approach to banking that works around them.

Chatbots to improve customer experience at banks

Chatbots could improve customer experience and increase efficiency within finance. The relative simplicity of creating and running chatbot services is making them a popular option. They can replace regular staff and offer users support as they need it.

Qatar leading bank posts profit rise despite crisis

Doha - Qatar National Bank, the Gulf emirate's top lender, on Wednesday reported a rise in its quarterly profits despite a trade boycott against Doha by a Saudi-led bloc of countries.

Fintech innovation for African banks

Maastricht - FMO, the Dutch development bank, and Above & Beyond, have come together to launch a fintech platform for African Banks. The aim is to accelerate the financial inclusion of the African banking system.

Business manoeuvres pressure Catalonia in crisis

Madrid - After the judges, police and politicians, Spanish business leaders are stepping into the ring to resist Catalan separatists' efforts to break the region away from Spain.

Iceland PM sold assets before 2008 crisis: reports

Reykjav - Iceland's Prime Minister Bjarni Benediktsson allegedly sold almost all of his assets in a major bank just before the government nationalised it during the nation's 2008 financial collapse, according to several media reports on Friday.

Sabadell bank to shift domicile from Catalonia

Madrid - Spain's fifth-biggest bank Sabadell will shift its registered domicile away from Catalonia, a company spokesman said Thursday, after threats by the region's leaders to declare independence.

France nudges BNP Paribas towards Commerzbank tie-up

Paris - The French government on Wednesday nudged the country's biggest bank, BNP Paribas, towards a possible tie-up with Germany's Commerzbank amid media speculation that Paris and Berlin want the two giants to merge.

80 percent of U.S. bank CEOs to invest in digital transformation

Almost 80 percent of U.S. banking CEOs are planning to invest in digital transformation over the next three years. KPMG said banks are experiencing the biggest "transformational era" in their history, adding that the time to embrace digital is now.

Smooth moves deemed key for EU agency bidders after Brexit

Brussels - The fight to host major EU agencies leaving London after Brexit reached a milestone Saturday as Brussels gave its assessment of individual bids, though it stopped short of ranking them.

Crucial round of Brexit agency bidding war

Brussels - The fight to host major EU agencies leaving London after Brexit reaches a milestone Saturday as Brussels gives its assessment of bids, with one regulator warning the wrong choice could see a mass exodus of staff.

Ukraine rekindles war on top tycoon Kolomoyskiy

Kiev - A Kiev court has frozen four rail assets of billionaire Igor Kolomoyskiy in a long-running corruption case that led to the state's eventual takeover of Ukraine's largest private bank.

Europol warns banks ATM cyber attacks on the rise

Den Haag - Cyber criminals are increasingly accessing ATM machines through the banks' networks, with squads of money mules standing by ready to pick up the stolen cash, Europe's policing agency warned Tuesday.

Future of banking survey reveals growing E-trend

A Future of Banking survey conducted by digital banking app Varo Money, looking into the financial habits of U.S. consumers, reveals a growing tendency for people to adopt and to seek out more online banking and financial services.

Warren Buffett becomes top shareholder in Bank of America

New York - American billionaire Warren Buffett's Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.

Bank boycott snuffs Uruguay's legal marijuana sales

Montevideo - Uruguay's unique new marijuana industry has run into a hurdle as international anti-money laundering rules are forcing banks to close the accounts of pharmacies legally selling the drug.

Commonwealth Bank boss to retire amid laundering claims

Sydney - The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of money laundering and terrorism financing laws.

Credit Suisse bars trades on some Venezuelan bonds

New York - Credit Suisse barred its traders from transacting some Venezuelan government bonds and required other Venezuela-connected transactions to undergo a special review for reputational risk, a bank spokesman said Thursday.

Bank of Cyprus set to go digital

Nicosia - Banking, like other sectors, is embracing digital transformation. What does this mean from the financial perspective and how should a bank go about the process? The Bank of Cyprus provides the answers as it embarks down the digital path.

Artificial intelligence will say whether you get a bank loan

Artificial intelligence is being adopted with enthusiasm in the banking sector. As consumers flock to online banking options, AI gives banks the ability to offer customers convenience and efficiency.

23 cities bid for London-based EU agencies after Brexit

Brussels - Twenty-three European cities have put themselves forward as candidates to host two London-based EU agencies after they are forced to leave the British capital because of Brexit, the EU said Tuesday.

Autopsy confirms convicted Spanish banker committed suicide

Madrid - An autopsy on the body of the former head of Spanish bank Caja Madrid, who was sentenced to six years in prison for graft, confirms he committed suicide, officials said Thursday.
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Members of the organization have called on their supporters to boycott HSBC and see it as a test of ...
Members of the organization have called on their supporters to boycott HSBC and see it as a test of their faith.
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GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
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A Barclays bank in Birmingham, UK
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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Bank of America
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UBS logo
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The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
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