The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Citi will initially deploy Pismo’s cloud-based core solutions in the US market.
Take a look at the 2023 Banking Tech Awards USA well-deserved winners.
Both banks laid off around 500 employees last week, according to media reports.
AI Markets “has been built from the ground up with user experience in mind”, HSBC says.
A dearth of deal making is to blame, Bloomberg reports, with a 32% decline in the bank’s merger advisory arm.
JP Morgan has assumed all deposits – insured and uninsured – worth approximately $92 billion from the FDIC.
The bank also intends to begin a new share buyback of up to $2 billion.
Sharegain’s SLTech solution allows investors to generate revenue through loaning out their financial assets.
This year’s ceremony will be held on 30 November 2023 at the Royal Lancaster Hotel, London.
Hackett was most recently president of BMO’s wealth management division in the US.
Owners Bank offers checking and savings accounts as well as digital tools for small businesses.
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
Take a look at our highlights video from FinovateEurope 2023 in London.
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
The new deadline for nominations is now Friday, 24 February 2023. Apply today!
BBVA says the AWS platform “provides greater computing power” to make financial market-related calculations.
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
Trovata will host JP Morgan Asset Management’s Morgan Money investing application.
Vantage leverages AI and machine learning to deliver personalised financial services for businesses.
US banking heavyweights will explore the feasibility of a DLT-powered interoperable digital money platform.
Digital banks are setting themselves apart from the incumbents and ushering in a new age in banking.
The facility will support Dwight Funding’s growth and allow it to invest further in its proprietary technology.
“The concept of being broad, with a consumer footprint, is not really playing to our strength,” says CEO.
The new capital takes NorthOne’s total funding raised to date to more than $90 million.
At Sibos 2022, Brim Financial’s Meenaz Sunderji discusses the evolving retail and corporate card landscape.
“We want to be the ecosystem platform provider to power up the Web3 economy,” says HSBC’s Catherine Zhou.
At Sibos 2022, senior bankers discussed the importance of interoperability between payment systems old and new.
Jiko’s solution provides firms access to spendable T-bills.