For banks — and especially for credit unions — the battle with Big Tech for the hearts, minds and wallet share of consumers may seem a more than challenging proposition. After all, Big Tech’s role across all facets of everyday life is pervasive, touching on...
New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that can, conceivably, amp up competition between smaller banks and their larger counterparts. In a Friday (Aug. 9) financial institution letter,...
Embedded banking firm ClearBank expanded from the United Kingdom to Europe. The newly established ClearBank Europe N.V. is headquartered in the Netherlands and has a Dutch banking license. It will offer U.K. and European institutions clearing and embedded banking services across Europe, according to a...
Zafin and 10x Banking have partnered to enable banks and financial institutions to modernize their core systems incrementally. This phased approach makes the implementation less disruptive while delivering immediate value, thereby mitigating risk, maintaining stakeholder confidence and reducing upfront capital expenditures, the companies said in...
FIS has teamed with Curinos to help financial institutions optimize their deposit growth. With this collaboration, Curinos’ deposit optimizing tools will be more accessible to the financial institutions that use FIS’ IBS and Horizon core banking platforms, the companies said in a Monday (Aug. 5)...
Silicon Valley Bank’s former owner has gotten a judge’s permission to end its bankruptcy. As Reuters reported Saturday (Aug. 3), SVB Financial Group has been given leave to turn over its assets to its creditors, bringing its bankruptcy to a close. According to the report,...
The largest banks in the United Kingdom are reportedly cutting costs to protect profits as interest rates begin to decline. The moves come as the Bank of England voted this week to cut rates for the first time in four years and signaled that there...
Citigroup reportedly made repeated breaches of a Federal Reserve rule limiting intercompany transactions. Those breaches led to errors in the banking giant’s internal liquidity reporting, Reuters reported Wednesday (July 31), citing an internal document from Citi. According to the report, the Fed’s Regulation W requires banks to restrict...
Financial software provider CSI has debuted a developer portal for community banks. “In addition to a growing list of integrated fintechs and integrators, CSI community banks and developers now have access to new documentation methods, resources and standardizations that simplify the implementation process and accelerate...
