Banking

American Express to Pay $96 Million to Consumers Over Card Terms

The practice in question harmed over 200,000 card owners in U.S. territories.<p>American Express Co (AXP) will pay $96 million to consumers over …

Personal Finance

Digital payments have become the preferred payment method

<i>This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.</i><p>Nearly half of consumers have embraced digital payments in some form, but banks must continue to leverage secure and convenient features, such as the Zelle network, to take …

Business

Big Banks Stand to Profit From Proposed Rules Changes

JPMorgan and Morgan Stanley would benefit most from changes to post-crisis banking rules proposed by the Trump administration. Bloomberg's Laura …

Business

Here's what to make of the PayPal mobile payments rumor

<i>This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.</i><p>There’s a rumor making its way around the internet that PayPal plans to launch a stand-alone, NFC-based in-store payment app early next year, according to Payment Week.<p>It’s …

Business

How Banks Are Creating the Next Financial Crisis

From August 24-26, officials from leading central banks in North America and Europe will meet in in Jackson Hole, Wyoming, to decide whether to raise …

Economy

British banks set to close record 762 branches in 2017

Banks in Britain are set to close a record 762 branches this year, depriving more customers of access to in-person financial services as lenders cut costs by pushing business online.<p>The number of branches shut or earmarked for closure so far this year is more than the 583 closed in 2016 and is the …

Lloyds Bank

Standard Chartered Bank - Demystifying Big Data in banking | banking-on-innovation

In years gone by, a typical bank customer – let’s call him Ken – would walk into his neighbourhood branch and be greeted by a teller who knew his name, his family, what Ken did for a living and how best to serve Ken’s personal banking needs.<p>That was the old model, the way banks earned and kept a …

Big Data

Stocks Climb A 'Wall Of Worry,' Though Humpty-Dumpty Investors Can Fall Off The Wall

The S&P 500 SPDR Retail Trust is currently retesting lows set in January of 2016.<p>Unfortunately, old school retailers are not the only ones that may …

Business

Qatar Bankers Wants to Know Who Their Friends Are in Gulf Scrap

It’s good to know who your friends are when times are tough.<p>Qatar’s banks are keeping track of which foreign partners have maintained business with …

Business

Legal California weed could lead to public banking

Famously, federally insured banks and credit-unions won't take deposits from the marijuana industry, even in states where marijuana sales have been …

North Dakota

Prime Minister Lee wants a payment system for Singapore. Razer boss: ‘Hold my mouse.’

When the country calls, you step up. That’s what Razer CEO Min-Liang Tan must have thought when Singapore’s Prime Minister Lee Hsien Loong posted on …

Singapore

China's Cash Squeeze Lurks Again

Song Seng Wun, director and economist at CIMB Private Banking, discusses China's liquidity crunch on "Bloomberg Markets: Asia." (Source: Bloomberg)

Private Banking

Sberbank gains deposits and posts another record profit

Sberbank, Russia’s state-owned banking group, continued to smash records by posting net profit of Rbs185.6bn on Wednesday for the second quarter, on …

Markets

Uber To Offer Enhanced Cashless Experience To Riders And Drivers

Uber partners with Axis bank to launch UPI integration for riders and HDFC bank to facilitate access to BHIM for driver partners

Uber

A new map for strategic growth in banking

Portfolio strategists need to look beyond economic development when eyeing new investment.<p><b>When bank strategists</b> seek new growth or reevaluate their …

Economy

High-Grade Bonds Live (and Die) in Central Bank Shadows

It's not surprising that big companies are selling debt at an unprecedented pace.<p>In fact, it would be more shocking if they weren't. This is …

Economy

Importance and Hall Mark Features of Corporate Banks

Many companies, large corporations, corporate clients, agencies, governments, financial institutions, etc. require a number of investment and banking …

FinTech

Royal Bank sees benefit from closing some city branches, reinvests in digital

Print<p>TORONTO — Royal Bank's decision to close 25 branches over the past year, mainly in city centres across Canada, is having a minimal impact on …

Quebec

What shops are open on Spring Bank Holiday Monday? 2017 opening times for M&S, Next, Boots, Debenhams and more

The August Bank Holiday is upon us, and it's time to enjoy some well deserved retail therapy and make the most of the end of summer sales happening …

Marks & Spencer

This startup is bringing Alipay-style QR code payments to Indonesia

The growth of digital payments and banking in China, where it has become mainstream and spawned numerous on-demand industries, is inspiring companies to pursue similar opportunities across. Indonesia, the world’s fourth largest population and Southeast Asia’s largest economy is a primary focus for …

Technology

Keyo lets you pay for food, drink and goods with a wave of the hand

A Chicago startup is offering a handy new way to pay for coffee, food and even clothing at retailers.<p>In fact, your hand is all you'll need to make purchases using technology from Keyo, a biometrics payment company. It allows you to pay by just hovering your a palm over a scanner at the store — …

Slow uptake of Absa's Twitter banking

Some 2 400 Absa customers use their Twitter account to check account balances and buy airtime.<p>A little over a year after ChatBanking was introduced, …

Chief executive performance bonuses 'consistently high': ACSI

Only eight chief executives of Australia's 100 biggest listed companies missed out on a bonus last year, says a new report that suggests performance …

Australian News

There’s a New Way to Pay for Nintendo Switch Games

Nintendo Switch owners now have an alternative method for paying for video games on the console.<p>When Switch owners find a game they want to buy in …

Wells Fargo: The Other Shoe Is Gonna Drop, And How The Stock Might React

Wells Fargo CEO Tim Sloan released a progress report to employees warning that there may be other negative news down the road.<p>In the report, Sloan …

Business

MUFG amasses US customer deposits as it proceeds with expansion plans

Mitsubishi UFJ Financial Group is aggressively gathering deposits in wealthy cities across the US, as it seeks sources of steady funds to support its …

Wells Fargo

From Luxury Developer to Humanitarian, Will Bennet Does it All

<i>Today we speak to Managing Director, Development at Irongate, Will Bennett.</i><p>I have always wanted to be an entrepreneur, starting in elementary school …

Investment Banking

Draghi Says Research Confirms Central Banks Not Powerless

ECB President Mario Draghi discusses the success of forward guidance and other non-standard monetary policies in a speech in Lindau, Germany. …

Business

New Financial Wellness App Douugh Hits the Market

• Tatjana Kulkarni<br>• August 23, 2017<br>• Cards, Exclusive, Mobile, Online, Payments, PFM<br>• 0<p>Bookmark<p>EXCLUSIVE – Add another financial wellness app to the list, …

Debit Cards

It’s too early to write an obituary for bank branches and ATMs in India: Axis Bank

The death of physical banks in India over the next five or six years is something that was predicted by many experts.<p>Yet, the country’s third-largest private lender, Axis Bank, continues to strengthen its brick-and-mortar network. While it had 3,304 branches and 14,163 automated teller machines …

Reserve Bank of India