The benefits of real-time payments may be readily apparent to financial institutions (FIs) — as they can serve their clients with new use cases, including pay by bank and immediate payroll deposits. They can foster strong relationships with commercial customers with speedier and more transparent...
Michael Haney describes himself as a “reformed banker.” As head of product strategy at composable banking architecture provider Galileo Financial Technologies, he has a unique perspective on payment modernization and paints a vivid picture of modern consumer expectations that some banking executives ignore at their...
Wells Fargo reportedly sued JPMorgan Chase on Monday (March 10), alleging that the bank knowingly made a loan based on faulty numbers, knowing that the loan would later be sold off in pieces to investors. In its lawsuit, Wells Fargo seeks to recover losses for...
While banks in the United States face obstacles to doing business in Canada, they are reportedly not clamoring for changes. Bank executives do not often bring up the issue, The New York Times reported Thursday (March 6) in an article fact-checking President Donald Trump’s social...
With 16% of small and mid-sized businesses (SMBs) considering switching banks, many are turning to community banks and credit unions (CUs) for their personalized service and local accessibility. While these smaller financial institutions (FIs) hold appeal, they face challenges in digital banking that may hinder...
Borrowing by U.K. banks from a certain Bank of England facility is reportedly at the highest level since the pandemic. As Bloomberg News reported Tuesday (March 4), this is happening as the country’s central banks push to drain extra liquidity from the financial system has...
Analysts expect Societe Generale’s digital retail unit to boost business as a whole. That’s according to a report Tuesday (March 4) by Bloomberg News, citing a note from Jefferies analysts. They project that a decline in costs for BoursoBank, the French bank’s digital retail side, will help drive...
Capital One and Wells Fargo are among 10 financial institutions rated “outstanding” in the Office of the Comptroller of the Currency’s (OCC) latest list of Community Reinvestment Act (CRA) performance evaluations. Another 16 financial institutions were rated “satisfactory,” the regulator said in a Monday (March...
Across the financial services landscape, digital transformation has changed everything. This fundamental and technological shift has led to an ongoing recalibration of the relationships small to medium-sized businesses (SMBs) have with financial institutions (FIs). It’s a recalibration that could favor community banks and credit unions...
