FinTech

Buy Bitcoin, PwC Fintech Director Tells Fordham Students

Representatives from each of the 'Big Four' global auditing firms were in attendance yesterday at New York's Fordham University to discuss blockchain …

Bitcoin

Canadian regulators welcome fintech amid rising global oversight interest

TORONTO (Thomson Reuters Regulatory Intelligence) - Financial regulators in Canada are rolling out the welcome mat for financial technology firms, or "fintechs." Recognizing the need to shift its regulatory focus to accommodate the use of advanced technology in the delivery of financial services, …

Financial Services

RBS Cuts CEO's Potential Share Award 40% After Ninth Annual Loss - Bloomberg

Royal Bank of Scotland Group Plc cut Ross McEwan’s potential share award this year by about 40 percent after the bank made its ninth consecutive …

Financial Services

3 Industries Being Disrupted by Crowdfunding

Crowdfunding is rearranging the way that entrepreneurs finance their creative endeavors, whether they're artists or engineers.<p>Crowdfunding is rearranging the way that entrepreneurs finance their creative endeavors, whether they’re artists or engineers. From bringing startups a needed capital boost …

Real Estate

RBS posts ninth straight annual loss on "sins of the past"

| LONDON<p>Royal Bank of Scotland (RBS.L) reported a sharp rise in losses on Friday as higher misconduct charges and restructuring costs underscored the challenges facing the lender nine years after it was bailed out in the world's biggest bank rescue.<p>RBS, which has not made an annual profit since …

Financial Services

Nymbus, a Miami financial technology company, raises $16 million

Nymbus, a Miami-based financial technology company, announced that investors are pouring in more capital to fuel their growth.<p>Nymbus, a provider of …

Startups

Losses of £58bn since the 2008 bailout – how did RBS get here?

Flawed takeover bids, bad lending, and a tower of legal bills have left the Royal Bank of Scotland deep in the red<p>Sir Howard Davies, chair of Royal Bank of Scotland, described the £7bn loss the bank rang up last year as “stark”. But it is just a fraction of the bank’s towering total losses of £58bn …

Financial Services

Why is RBS still losing money?

<b>When RBS lost £24bn in 2008, my daughter was half way through junior school.</b><p>She's now doing her A-levels and RBS is still losing billions.<p>Next year she'll apply for university - next year RBS will lose another few billion.<p>Watching RBS develop has not been a very rewarding experience - for …

Financial Services

Is The Financial Services Industry Ripe For Disruption?

With reports in American Banker this week that Amazon is rumored to be exploring the potential acquisition of Capital One, an innovator in financial services marketing, is it too far-fetched to ask whether the financial services industry may be on the cusp of the next wave of disruption? As unheard …

Royal Bank of Scotland closes in on a decade of multi-billion pound losses

Perhaps it should consider renaming itself the Royal Bank of Punxsutawney. There has certainly been a Groundhog Day feeling to the Royal Bank of Scotland's full year results for the last nine years.<p>Today the state-owned UK lender revealed its ninth straight loss in a row. It was the third biggest …

Financial Services

Standard Chartered warns of 'challenging' 2017 despite return to profit

Banking firm announces that it will not be paying a dividend to shareholders for 2016.<p>Standard Chartered has reported a return to full-year profit …

Financial Services

Personal lending company SoFi confirms $500 million funding round

SoFi, an online marketplace for lenders and borrowers, announced today that it is currently raising an additional $500 million. The round is being led by private equity firm Silver Lake Partners.<p>The San Francisco-based fintech company initially began offering student loans when it was founded in …

Capitalism

Standard Chartered shares tumble after 'wrenching' year

The boss of Standard Chartered conceded the emerging-markets focused bank had endured a “wrenching” year that saw it creep back to profit but took it no closer to restoring its dividend.<p>Bill Winters, who took the helm at the lender in 2015 and promptly scrapped its shareholder payout, said …

Financial Services

More to Learn

Robo advisors are increasingly growing in popularity, and these automated services are threatening to take huge amounts of business away from traditional financial advisors.<p>Multiple different segments of the investing public have already taken advantage of robo advisors for a variety of reasons. …

RBS Lost $8.7 Billion in 2016 (RBS)

The Royal Bank of Scotland plc (RBS) has lost money yet again.<p>Scotland's high-profile investment bank reported a loss of £4.44 billion ($5.6 billion) …

Financial Services

StanChart shares fall as it withholds dividend but lifts bonuses

| LONDON/HONG KONG<p>Standard Chartered (STAN.L) shares fell four percent on Friday as the British lender said it would not pay a dividend for 2016 due to restructuring costs, but increased its staff bonus pool by 5 percent.<p>The bonus boost, which Chief Executive Bill Winters said was needed to …

Financial Services

European shares close at three-week low as banks, miners wobble

| LONDON<p>European shares dropped on Friday with banks and miners falling as a raft of disappointing earnings updates and political worries dented sentiment.<p>The STOXX 600 was down 0.8 percent at its close, erasing gains made earlier in the week and snapping a two-week winning streak. This was the …

Financial Services

RBS: Independence Delay - Bloomberg Gadfly

It's nearly a decade since Royal Bank of Scotland Group Plc was bailed out. Today, the lender is still owned by taxpayers, shunned by shareholders …

Financial Services

Why PayPal Has a Growing Set of Believers

Visa and Mastercard have been solid big-stock investments in recent years, thanks to their dominant payment networks and the fact that they don’t …

Paypal

Do You Believe in Blockchain Magic?

<i>Sebastien Meunier is a financial services advisor and startup mentor with 15 years of experience in business transformation and innovation in finance.</i><p>…

Bitcoin

Fraud rises as cybercriminals flock to online lenders

Cybercrime is becoming more automated, organized and networked than ever before, according to the ThreatMetrix Cybercrime Report: Q4 …

Cybersecurity

RBS shows why bank bailouts don’t work

There are many reasons for the ferocity of the anti-establishment tornado currently sweeping the Western world.<p>But the botched response to the financial crisis, and in particular the mass bailing out of so many large financial institutions, is one key reason.<p>The intervention shocked the public: …

Financial Services

Standard Chartered `War-Gaming' Trade Battles Due to Trump Risk - Bloomberg

One of the world’s biggest emerging-market banks says it’s "war-gaming" trade disruptions after U.S. President Donald Trump’s election.<p>Standard …

Financial Services

Royal Bank of Scotland sees losses treble to £7bn as it racks up its ninth year of losses

The bank's total losses since 2008 now amount to about £58bn, topping the government's £45.5bn bail-out.<p>Royal Bank of Scotland saw losses more than …

Financial Services

Cell Phones Replacing ATM Cards

by , Staff Writer @mp_research,<p>According to L2’s Digital IQ Index Financial Services, written by Elisabeth Rosen, time spent on mobile has increased …

Advertising Industry

Credit Suisse's UK offices risk losing out on £600 million a year in a 'Hard Brexit'

REUTERS/Peter Nicholls<p>Credit Suisse's UK base risks missing out on up to $750 million (£598 million) a year under a 'hard Brexit' that severs London's financial ties to Europe, David Mathers, the lender's chief financial officer, said.<p>The bank's two subsidiaries in Britain generate around $5 …

Financial Services

RBS Has a While Longer Under British Taxpayers: Gadfly

Royal Bank of Scotland Group Plc announced plans to cut costs by $2.5 billion over the next four years following the bank's ninth-straight annual …

Financial Services

Wall Street's Humans Notch a Win Against the Computers

As the bot armies gobble up jobs across Wall Street, humans occasionally fight the technological onslaught. Sometimes they even win.<p>Over the past six months, traders of corporate loans—one of Wall Street’s most manual businesses—have shaved more than 20% off the average time it takes to settle …

Wall Street

ING and SocGen partner on blockchain solution

<i>This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.</i><p>Blockchain technology is gaining momentum in the area of trade finance, as banks including Barclays develop and test solutions to address its pain points.<p>Now, the trend …

Authentication

RBS CEO Criticizes Ex-Vice Chairman's Decision to Sue the Bank - Bloomberg

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan criticized the bank’s former vice-chairman, Angus Grossart, for looking to a …

Financial Services