#banking

#banking

Banks are wasting 70% of budgets on outdated systems, hindering innovation and digital transformation in the financial sector.

COBOL is still essential in critical business systems, handling trillion-dollar transactions daily.

Banks and fintechs are shifting from rivalry to collaboration, recognizing mutual strengths.

Djamo targets Francophone West Africa to provide banking services for the underbanked, raising $17 million to expand its offerings.

The financial services industry is becoming fragmented with increased consumer choice and competition, which challenges brand differentiation and customer loyalty.

Zeta raised $50 million, increasing its valuation by 70% to $2 billion, focusing on modernizing banking technology for financial institutions.

Charlie Javice was found guilty of defrauding JP Morgan by inflating her startup Frank's customer numbers.

London commuters are warned of scams after a Tube user's bank card was cloned.

Speaking of accountability, major banks face significant penalties for insider trading practices, reinforcing the need for robust compliance in financial markets.

Modern banking has evolved with technology, offering both online and traditional services.

The best banking option depends on user preferences and financial goals.

Online accounts provide convenience while traditional accounts offer personal service.

Zelle is on track to exceed $1 trillion in transaction volume by 2025 through a focus on consumer experience and network growth.

Embedded finance and Banking-as-a-Service are revolutionizing access to financial services for businesses.

OpenPayd offers a seamless, integrated financial infrastructure tailored to modern business needs.

The merger between Mechanics Bank and HomeStreet creates a significant financial institution with vast West Coast presence and new opportunities.

Stablecoins are rapidly gaining traction in traditional finance, demonstrating potential advantages over conventional banking.

Trudeau's government capped bank NSF fees at $10, aiming to relieve financial strain on Canadians.

The Independent supports accessible journalism amidst significant current events.

Santander UK's branch closures reflect a shift towards adapting banking services to modern customer behavior.

Avant Money is the first fully-fledged bank in Ireland since 2005, bringing new competition to the banking market.

Donald Trump's claim that U.S. banks can't operate in Canada is false; several do, but competition holds them back.

Senator Chuck Schumer warns against GOP plans to overturn CFPB's overdraft fee rule, potentially costing Americans millions in higher fees.

The Senate voted against a rule limiting bank overdraft fees, potentially increasing fees back to $5.

The FDIC has lifted pre-approval requirements for banks to engage in bitcoin and crypto activities, promoting a more accessible regulatory environment.

Regulatory attitudes towards digital assets are expected to soften under President Trump's influence.

Major banks anticipate engaging more actively with crypto clients and related services.

Banks in the UK experienced over one month of IT failures in two years, impacting customer access to services.

A significant banking app outage in the UK affected thousands, highlighting reliance on technology and the need for strong branch networks.

Barclays resolved a three-day payment disruption affecting customers, with delayed transactions processed and an apology issued for the inconvenience.

Santander is closing 95 branches in the UK, risking 750 jobs due to the rise of digital banking.

Banks accounted for over 50% of complaints to the Financial Services and Pensions Ombudsman last year.

Santander UK is closing 95 branches and cutting 750 jobs to adapt to changing customer behavior and enhance digital banking.

The Independent supports free journalism, providing balanced news coverage during pivotal moments.

HSBC plans significant job cuts globally as part of a restructuring strategy under new CEO Georges Elhedery.

Santander is closing five branches in south London, part of a larger plan to shut 95 branches nationwide by June 2025.

Santander plans to close 95 branches in the UK, risking 750 jobs, to adapt to changing customer behavior towards banking.

TD Bank to close 37 branches across 10 states and D.C. to streamline operations and adapt to customer habits.

TD Bank is closing branches in response to penalties for lax anti-money laundering practices.

Citi mistakenly credited a client account with $81 trillion instead of $280 million, but no funds were transferred.

U.S. banks face significant barriers in the Canadian market, prompting President Trump to highlight perceived unfairness in economic relations.

Building banks boosts your city's gold production significantly.

The Lloyds Bank branch in Tooting will close on October 8 due to declining in-person transactions as customers transition to mobile banking.

Mortgage rates below 4 percent offer renewed hope for prospective homebuyers through competitive lending from banks.

Bank of Ireland reduces fixed-term deposit rates following ECB cuts.

Existing account holders are unaffected by the recent rate change.

New deposit account rates take effect next Tuesday.

Similar rate cuts are likely from other banks.

Santander will retain its operations in the UK, according to CEO Ana Botin, despite recent concerns about lower profitability.

Lloyds Banking Group will close 136 branches due to increased digital banking use, affecting high street presence and vulnerable customers.

Lloyds Banking Group is closing 136 branches as part of a shift towards digital banking in response to changing customer preferences.

Lloyds Banking Group will close numerous branches due to a significant shift towards digital banking services and a decline in physical transactions.