All articles by Verdict Staff
Verdict Staff
US Bancorp to divest 50.1% stake in Brazilian unit of Elavon
US Bancorp, the parent company of Elavon, has agreed to divest its 50.1% stake in Sao Paulo-based Elavon do Brasil to Stone Pagamentos, a privately-held merchant acquirer.
Making high-risk business models successful
Organisations working within what are termed high-risk business sectors typically find it a particular challenge to secure card acceptance services from the major banks. Thats largely because these banks believe that the business models of these companies will lead to fraud and reputational damage. Steve Wilson, managing director at Allied Wallet Europe, writes
Waseela Microfinance Bank deploys TPS IRIS payment solution
Pakistan-based Waseela Microfinance Bank (WMBL) has deployed TPS’ IRIS Switch, a financial middleware for ATM, POS driving, debit cards, and IRIS PCMS, a prepaid card solution.
India’s first small finance lender begins operations
Capital Small Finance Bank, the first small finance bank in India, has launched operations in the country, after receiving in-principle nod from the Reserve Bank of India (RBI) in September 2015.
Lloyds to shed 625 jobs; shut down 21 branches
Lloyds Banking Group is set to axe about 625 jobs and close 21 branches as part of a broader cost cutting drive announced by the bank in 2014.
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UK online-only start-up Masthaven Bank secures retail banking license
British digital-only lender Masthaven Bank, created out of bridging loan specialist Masthaven Finance, has secured a retail banking licence from UKs Prudential Regulation Authority and Financial Conduct Authority.
Orange to buy majority stake in French lender Groupama Banque
French telecom operator Orange has agreed to purchase a majority stake in Frances Groupama Banque to launch its mobile banking service.
ADIB Q1 net profit rises 7%
Abu Dhabi Islamic Bank (ADIB) has reported a net profit of AED482m ($131.2m) for the first quarter of 2016, a 6.9% increase compared to AED450.8m in the year-ago quarter.
MCB Islamic Bank opts for TPS payment application suite
MCB Islamic Bank, a subsidiary of Pakistan’s MCB Bank, has tapped TPS payment application suite for offering multichannel service to its customers.
Bank of China (Hong Kong) receives approval to open branch in Brunei Darussalam
Bank of China (Hong Kong) (BOCHK) has been granted approval to open a new branch in Brunei Darussalam, becoming the first Chinese bank to do so.