Untold millions of payments representing trillions of dollars wind their way across the globe each and every day. And for the most part, the funds flow seamlessly — where as many as 98% of transactions get where they’re supposed to be. Andy Elliott, vice president...
America’s biggest banks apparently have Donald Trump to thank for a successful quarter. Banking giants are set to report $31 billion in profits for the last three months of last year, fueled by a surge in trading and dealmaking following the U.S. presidential election, the...
As platforms, corporates and financial institutions scale and bring personalized financial products and solutions to their end customers, application programming interfaces (APIs) are proving to be a critical lifeline. They connect third-party applications, data and developers to shorten the time to market for those innovations...
J.P. Morgan Chase reportedly became the sixth bank to quit the climate-focused Net-Zero Banking Alliance (NZBA) since the beginning of December. The banking giant followed Citigroup, Bank of America, Goldman Sachs Group and Wells Fargo, which all left the NZBA in December, and Morgan Stanley,...
Regions Bank says it has launched a partnership with data integration firm Axway. The collaboration, announced Monday (Jan. 6), will see Regions offer Axway’s Amplify Open Banking solution to its consumer banking, corporate banking and wealth management clients. “As customers continue to grant access to their financial data...
Will Donald Trump’s return to the Oval Office bring a crackdown on “debanking?” As the Financial Times (FT) noted in an opinion piece Tuesday (Dec. 31), there’s a debate about the topic in the financial world, with people like venture capitalist Marc Andreessen arguing that banks are cutting ties...
Among the key trends in financial services in 2024 — as will be the case for the next year (and beyond) — has been the shift to open banking. The premise and the promise of open banking is this: Individuals have the ultimate control over...
The Federal Deposit Insurance Corp.’s roster of “problem banks” continues to grow. The overall number of those banks — 68 as of the end of the third quarter, up two banks from the second quarter — is at a multiyear high, according to the FDIC’s...
HSBC is reportedly considering scaling back its retail banking operations in Mexico, Malaysia, Indonesia and some other countries. The bank is considering focusing only on wealthier clients in these markets as it looks to cut costs and focus on its core markets, which are the...
