Goldman Sachs Group Inc. and Apple Inc. will pay more than $89 million to resolve a long-running investigation into their credit-card joint venture after the top US consumer…
Read more Goldman, Apple to pay $89M after CFPB card probeGoldman Sachs is trimming its consumer business in the third quarter, turning its attention to bread-and-butter segments including wealth management, dealmaking and trading. “We have been pretty clear…
Read more Goldman narrows consumer footprintFinancial institutions are looking to real-time, data-driven insights to suggest actions clients can take to benefit from last week’s interest rate cut by the Federal Reserve. Banks have…
Read more Real-time data drives consumer decisions post rate cutTD Bank named Raymond Chun its incoming chief executive today after current CEO Bharat Masrani announced plans to retire in April. Chun, who serves as the bank’s group…
Read more TD Bank names Chun as CEOSan Francisco-based Wells Fargo appointed Tracy Kerrins as head of consumer technology and leader of the bank’s new generative AI team, according to a July 30 release. Kerrins,…
Read more Movers and Shakers: Wells Fargo appoints two new tech leaders | Bank Automation NewsFintech funding hit a four-year low globally in the first half of 2024, but nearly three-quarters of the money raised went to North America, followed by Europe. North…
Read more Fintech Funding: North American firms take most of H1 investment | Bank Automation NewsThe Consumer Financial Protection Bureau is facing additional challenges that call into question the legality of the bureau’s funding. The Supreme Court upheld the CFPB’s funding mechanism in May. In several recent lawsuits, companies sued by the…
Read more CFPB funding under new scrutiny | Bank Automation NewsRegional banks are deploying technology to keep up with client demand and compete with major financial institutions. The $62 billion Valley Bank joins other financial institutions, including the…
Read more Regional FIs deploy tech to remain competitive | Bank Automation NewsOpen banking regulation is quickly approaching but financial institutions are asking the Consumer Financial Protection Bureau to extend the timeline for implementation. FIs are expected to have an…
Read more Larger FIs may need more time to implement open banking | Bank Automation NewsRevolut Ltd. said a secondary share sale that allowed the company to give employees liquidity for their stakes valued the company at $45 billion. The round was led…
Read more Revolut says secondary share sale valued firm at $45B | Bank Automation NewsArmed Forces Bank is investing in its digital banking channels to ensure that its military-focused client base has 24/7, global access to banking capabilities. “The families and individuals…
Read more Armed Forces Bank brings 24/7 banking to military customers | Bank Automation NewsBank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the US regional banks hit hardest in last year’s tumult, for about $2.8…
Read more Scotiabank to buy 14.9% of KeyCorp for about $2.8B | Bank Automation NewsBanks are modernizing and digitalizing their platforms and offerings as users demand more online and mobile banking experiences. According to Bank Automation News’ proprietary Transactions Dashboard, banks have…
Read more Transactions Dashboard: Digital banking leads way in 2024 | Bank Automation NewsClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step…
Read more ClearBank wins license allowing fintech to expand across europe | Bank Automation NewsTruist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role. Hagerman was the “right person at the right time…
Read more Truist lands Wells Fargo tech leader | Bank Automation NewsTD Bank is taking a conservative approach to AI for consumer-facing operations as it taps the tech for back-end efficiencies. “We are very knowledgeable about the benefits of…
Read more TD cautious about consumer-facing AI | Bank Automation NewsStandard Chartered Plc will take a stake in United Fintech Group, becoming the fourth large bank this year to invest in the London-based company as it negotiates new acquisitions…
Read more StanChart invests in fintech M&A company, joining Citi, BNP | Bank Automation NewsFinancial institutions are investing in their mobile and digital experiences as consumers flock to online channels for self-service banking. “Consumers are really demanding more and more and expecting…
Read more Mobile, digital banking adoption jumps in Q2 | Bank Automation NewsCambridge Savings Bank is executing a three-year digital roadmap with automation, client experience and modern platforms at the forefront of the effort. “Our mandate is digitize everything right…
Read more Inside Cambridge Savings Bank’s 3-year digital roadmap | Bank Automation NewsParis-based BNP Paribas is working with telecom service provider Orange to provide its 21.8 million customers with personal financing solutions, according to a June 26 release. The “tailored…
Read more BNP teams up with Orange for retail financing | Bank Automation News
