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Payments startup Affirm raises $100m from Morgan Stanley

  • Published: 17 Oct 2016

Affirm, the company started by PayPal co-founder Max Levchin, has obtained a $100m lending facility from financial services giant Morgan Stanley.. read more

Deutsche Bank implements freeze on hiring

  • Published: 14 Oct 2016

German banking group Deutsche Bank has implemented a companywide hiring freeze in a bid to cut costs and boost profitability.. read more

UniCredit raises €552m from FinecoBank stake sale

  • Published: 14 Oct 2016

Italian banking group UniCredit has raised €552m by selling a 20% stake in its online bank FinecoBank as as part of CEO Jean-Pierre Mustier’s strategy to boost capital ratios.. read more

Lloyds axes a further 1,340 jobs

  • Author: Patrick Brusnahan
  • Published: 12 Oct 2016

Lloyds Banking Group (LBG) has announced a further reduction of 1,340 jobs, mainly aimed at branch staff, as part of an ongoing programme from the bank’s chief executive, Antonio Horta-Osorio.. read more

Wells Fargo forms new payment division; shakes up management

  • Published: 12 Oct 2016

American banking giant Wells Fargo has created a new business division that will focus on payments, virtual solutions and innovation.. read more

Euronet Worldwide completes YourCash Europe acquisition

  • Published: 12 Oct 2016

Electronic payments provider Euronet Worldwide has wrapped up the acquisition of YourCash Europe, a UK-based ATM operator.. read more

SolarisBank, MasterCard to develop new payments modules for digital startups

  • Published: 12 Oct 2016

Global payment technology firm MasterCard and Berlin-based SolarisBank have signed a strategic agreement to develop new payments modules for digital startups.. read more

Citi to sell consumer banking operations in Brazil and Argentina

  • Published: 10 Oct 2016

Citi has agreed to offload its consumer banking business in Brazil and Argentina to Itau Unibanco and Banco Santander Rio respectively, for undisclosed sums.. read more

KBZ Bank establishes representative office in Singapore

  • Published: 10 Oct 2016

Myanmar-based Kanbawza Bank (KBZ Bank) has expanded its international footprint by opening a representative office in Singapore.. read more

Lloyds retail sale abandoned

  • Author: Patrick Brusnahan
  • Published: 7 Oct 2016

The UK government has shelved its plans of a major retails share offer of the 9% of Lloyds Bank it still owns.. read more

Deutsche Bank to cut further 1,000 jobs in Germany

  • Published: 7 Oct 2016

German lender Deutsche Bank has reached an agreement with its employee representatives to eliminate an additional 1,000 jobs in its home market.. read more

Raiffeisen Bank International, Raiffeisen Zentralbank agree to merge

  • Published: 6 Oct 2016

The management and supervisory boards of Raiffeisen Zentralbank Oesterreich (RZB) and Raiffeisen Bank International (RBI) have passed a resolution to merge the two banks.. read more

ADIB partners with Fidor Bank to launch new digital bank

  • Published: 6 Oct 2016

Abu Dhabi Islamic Bank (ADIB) has joined forces with German online lender Fidor Bank to launch a new community based digital bank.. read more

IBM to invest $200m in Watson IoT business

  • Published: 6 Oct 2016

Technology giant IBM has announced plans to invest $200m in the new global headquarters for its Watson Internet of Things (IoT) business in Munich, including blockchain-related IoT capabilities.. read more

RBL Bank takes 9.99% stake in Utkarsh Micro Finance

  • Published: 5 Oct 2016

Indian private sector lender RBL Bank has picked up a 9.99% stake in Utkarsh Micro Finance (UMFL) to reach out to the unbanked and underbanked consumer segments.. read more

Citigroup to invest $1bn in Banamex; renames unit

  • Published: 5 Oct 2016

Citigroup has unveiled plans to invest $1bn in its Mexican unit Banco Nacional de Mexico (Banamex) for upgrades to its technology and branches and also rename the Mexican business as Citibanamex.. read more

State Bank of India opens branch in Myanmar

  • Published: 4 Oct 2016

State Bank of India (SBI) has opened a branch in Yangon, Myanmar, becoming the first Indian bank to set up a branch in the neighbouring country.. read more

Cardtronics to buy DirectCash Payments for $460m

  • Published: 4 Oct 2016

Cardtronics, a provider of automated consumer financial services, has agreed to acquire DCPayments in a transaction valued at $460m.. read more

ING to shed 7,000 jobs and invest €800m in digital upgrade

  • Published: 3 Oct 2016

Dutch banking group ING is set to lay off 7,000 jobs and invest in its digital platforms with an aim to deliver annual cost savings of €900m by 2021.. read more

Worldline acquires majority stake in KB's card payment processing business

  • Published: 3 Oct 2016

Worldline, a provider of payments and transactional services, has acquired an 80% stake of Cataps, a subsidiary of the Czech lender Komercni banka (KB).. read more


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