Technology budgets in Brazilian banks are set to increase this year as digital transformation accelerates in the sector, according to a yearly report by the National Banking Federation (FEBRABAN), carried out by Deloitte. According to the study, tech budgets are set to reach $7.4 billion in 2022, up 18% in […]
Banks
What does it mean for banks?
The European Commission’s (EC) Action Plan on sustainable finance is a major policy objective by the European Union (EU) to promote sustainable investment. As per the plan, banks are expected to finance sustainable economic activities to trasition to a carbon neutral economy. The plan was introduced in March 2018 in response to the […]
Equitas Small Finance Bank’S Shares Tank Over 10% As Street Reacts To Md, Ceo Pn Vasudevan’S Resignation
Buy / Sell Equitas Bank share Shares of Equitas Small Finance Bank fell as much as 10.62 percent to Rs 53 apiece on the BSE as the Street reacted to its managing director and chief executive officer PN Vasudevan resigning from the bank. Vasudevan is also the founder of Equitas […]
Direct or digital banks lead the way with customer satisfaction: J.D. Power study
Source: J.D. Power In its recent 2022 U.S. Direct Banking Satisfaction Study, J.D. Power found that established brands diving into the digital banking space are doing better than traditional banks and neobanks in terms of supporting their customers. According to J.D. Power, 27% of American banking customers are using a […]
6 Small Finance Banks Giving Inflation Beating Returns Over 7% On FD To Regular Customers
Utkarsh Small Finance Bank The bank’s interest rates were last changed on May 9, 2022, and as a result, the bank now offers a maximum return of 7.25 percent to the general public. Tenure General Customers 7 Days to 45 Days 3.00% 46 Days to 90 Days 3.25% 91 Days […]
Small finance banks: Banking on digital tech to stay ahead of curve
One of the biggest challenges for small finance banks (SFBs) from a tech point of view is the lack of an automation process and the corresponding need for manual intervention. This makes the deployment of an integrated engagement platform vital to such entities. Such a solution breaks down organisational silos, […]
Welcome the era of integrated finance, led by banks and fintechs partnerships
Thursday 12 May 2022 6:30 am By: Claire Calmejane Claire Calmejane is Group Chief Innovation Officer at Societe Generale Cooperation between banks and fintechs will be fundamental to fast track innovation in the financial sector. (Photo by Bryan Thomas/Getty Images) The digital revolution is transforming the way people do business […]
Explainer: Disconnecting Russia’s banks: Sberbank faces SWIFT removal
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LONDON, May 5 (Reuters) – The European Union aims to cut off Sberbank (SBER.MM), Russia’s largest lender, from the SWIFT international payment system as Western allies seek to further isolate Moscow from financial markets over its war in Ukraine. The latest proposal forms part of the EU’s sixth and toughest […]
Despite the Fed’s big rate hike, most banks won’t pay much in interest
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks to tame inflation. The central bank’s actions mean that, in an era of sharply rising […]
Arab central banks, monetary authorities champion financial inclusion
The issue of enhancing access to finance and financial services in the Arab countries is receiving growing attention from the Council of Arab Central Banks and Monetary Authorities’ Governors, in recognition of the potential and significant opportunities that can be achieved by increasing financial inclusion to support inclusive and sustainable […]
Japan banks target growth in cooling U.S. high-yield debt market
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A pedestrian walks past signboards of Bank of Tokyo-Mitsubishi UFJ (L), Mizuho Bank (C), and Sumitomo Mitsui Banking Corporation in Tokyo, Japan, November 12, 2015. REUTERS/Yuya Shino Register now for FREE unlimited access to Reuters.com Register TOKYO, April 22 (Reuters) – When Japan’s biggest banks helped finance a $34 billion […]
UK digital banks need to improve financial crime controls, FCA warns
Icons for the Monzo and Starling banking apps on a smartphone. Adrian Dennis | AFP via Getty Images Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms by criminals, regulators have warned. The Financial Conduct Authority on Friday published the findings of a review […]