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Banking News

JPMorgan makes push into payments technology

JPMorgan appears to be making a big push into payments technology. A new markets report signals that digital banking becomes a strategic priority for the "bulge bracket banks."

BankMobile, aiming to make banking affordable: Interview Special

BankMobile is the largest technology-enabled bank in the U.S. in terms of number of consumer checking accounts, and its popularity is growing. To find out why this is we spoke with Luvleen Sidhu, Co-Founder of BankMobile.

UK won't pay to access single market post-Brexit: Govt

London - The British government on Thursday ruled out paying the European Union to access the single market after leaving the bloc, as Prime Minister Theresa May tried to reassure finance sector players over Brexit.

Older banking users turn away from fintech due to lack of trust

The growing numbers of fintech services offering mobile and cloud-based payments are failing to convert older users. One study from Canada found Generation X-ers are over twice as likely to try a digital payments solution as baby boomers.

Former Cyprus bank chief jailed for market manipulation

Nicosia - A Cypriot court on Friday jailed a former CEO of Bank of Cyprus after he was found guilty of market manipulation by deceiving shareholders in the lead-up to a banking system meltdown in 2013.

New 'supernote' found in S. Korea could be from North

Seoul - A new high-quality counterfeit $100 bill has been found in South Korea, bank officials said Tuesday, prompting suggestions the sanctions-hit North might have resumed forging "supernotes".

Amsterdam, Paris to host key EU agencies after Brexit

Brussels - Amsterdam and Paris on Monday won the fight to host two major EU agencies when they leave London after Brexit, in a suspenseful vote that eventually had to be decided by the drawing of lots.

EU to vote on relocation of agencies after Brexit

Brussels - The fight for some of the most prized spoils of Brexit comes to a climax on Monday when 27 EU states pick the new host cities for two London-based regulatory agencies.

Digital transformation of banking seeks out customers

A key element of digital transformation is with seeking out the customer rather than waiting for the customer to come to the instiution. This is part of a ‘go-to-market’ strategy, and a recent example is with Seacoast Bank.

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.
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A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
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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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The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
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GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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