All articles by Verdict Staff
Verdict Staff
State Bank of India opens branch in Myanmar
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.
Cardtronics to buy DirectCash Payments for $460m
Cardtronics, a provider of automated consumer financial services, has agreed to acquire DCPayments in a transaction valued at $460m.
Worldline acquires majority stake in KB’s card payment processing business
Worldline, a provider of payments and transactional services, has acquired an 80% stake of Cataps, a subsidiary of the Czech lender Komercni banka (KB).
ING to shed 7,000 jobs and invest 800m in digital upgrade
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.
Kotak Mahindra Bank to buy BSS Microfinance
Indian private sector lender Kotak Mahindra Bank has agreed to acquire 99.49% of BSS Microfinance from existing shareholders in a cash deal worth INR1.39bn ($21m).
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RBS unveils new structure; Coutts and Adams to be ringfenced under new structure
RBS has announced plans to ringfence its retail banking business from its riskier investment banking business to meet the deadline of 1 January 2019 set by the British government.
Commerzbank to shed 9,600 jobs; suspend dividend
German lender Commerzbank has announced plans to axe 9,600 jobs, suspend dividend payments, and shrink securities trading in order to bolster profitability.
Citi to join clearXchange network to bring P2P payments to US customers
Citi is set to join Early Warnings clearXchange network in 2017, bringing real-time person-to-person (P2P) payments to the banks customers in the US.
FCA proposes new accountability rules for senior managers
The UKs Financial Conduct Authority (FCA) has proposed a series of measures to strengthen the senior managers and certification regime in order to reinforce the importance of individual accountability for senior level executives at financial services firms.
First National Bank taps Fiserv’s mobile banking and payments platform
First National Bank of Pennsylvania, a subsidiary of FNB, has upgraded to the latest version of the Mobiliti Advantage mobile banking and payments platform and added mobile card control capabilities from Fiserv.