The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered a ransomware attack, Reuters reported Friday (Nov. 10). In the meantime, BNY Mellon is manually...
China’s banks are not immune to the recession triggered by the COVID-19 crisis. Analysts and official data indicate that some of the country’s largest banks will soon show the first drop in first-half profits since the Great Recession. Reuters reported that China’s banks have been...
With bank-FinTech tie-ups growing more popular, FinTechs themselves are similarly discovering value in collaborating with each other to elevate their value proposition for joint financial institution (FI) clients. This week’s roundup of bank-FinTech partnerships examines how FinTechs are working together to build out-of-the-box solutions for...
The Industrial and Commercial Bank of China (ICBC) tried to quell recent concerns saying loan checks on companies that made overseas acquisitions were normal and routine, reported Reuters. According to Reuters, reports surfaced last week that the ICBC had told lenders to examine credit extended...
November 13, 2023
A hacker group says the Industrial and Commercial Bank of China (ICBC) paid a ransom following an attack last week. The bank, which is China’s largest lender, disconnected itself from an electronic settlement platform for the U.S. Treasury securities operated by BNY Mellon after a ransomware attack last week. According to a report by Reuters Monday (Nov. 13), […]
November 10, 2023
The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered...
August 24, 2020
China’s banks are not immune to the recession triggered by the COVID-19 crisis. Analysts and official data indicate that some of the country’s largest banks will soon show the first...
June 26, 2017
The Industrial and Commercial Bank of China (ICBC) tried to quell recent concerns saying loan checks on companies that made overseas acquisitions were normal and routine, reported Reuters. According to...
