All articles by Verdict Staff
Verdict Staff
RBI allow banks to offer all services via off-site ATMs
The Reserve Bank of India has allowed banks to provide their complete suite of products and services via off-site automated teller machines (ATMs).
China requires foreign banks to hold yuan
Foreign banks in China will be required to hold yuan in reserve beginning next week, according to the central bank. This comes as the Peoples Bank of China (PBoC) seeks to stabilise the currency, which has been hit by capital flight.
Equitable Bank forays into online banking business
Equitable Bank, a Canadian alternative-mortgage provider, has introduced its new digital-only subsidiary that will allow daily transactions through computer or mobile phone.
Fending off the digital disruptors in 2016
If disruption was the theme of 2015, no industry was more affected than banking. Not only did smaller fintech disruptors receive the lions share of venture capital, but successive articles in industry broadsheets also breathlessly predicted doom and gloom for traditional banking. Simon Mulcahy writes
RAKBank to axe 250 jobs
UAE-based National Bank of Ras Al Khaimah (RAKBank) is set to cut about 250 jobs as part of a restructuring plan.
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Federal Reserve selects IBM to upgrade retail payments processing platform
The Federal Reserve Bank of Atlanta’s Retail Payments Office has tapped technology giant IBM to upgrade its automated clearing house (ACH) processing platform.
Citigroup global consumer banking units Q4 income down 20%
The global consumer banking (GCB) arm of Citigroup has posted a net income of $1.34bn for the fourth quarter of 2015, down 20.2% from $1.68bn in the year ago quarter.
Wells Fargo community banking units Q4 income slides
Wells Fargo & Company’s community banking arm has registered a net income of $3.3bn in the fourth quarter of 2015, down 0.9% compared to the year-ago quarter.
Santander extends contract with Wincor Nixdorf in Mexico
Spanish banking major Banco Santander has awarded a three-year contract to Wincor Nixdorf to offer maintenance services for its ATM network in Mexico.
Fintech providers to disrupt banking industry in the next five years: TransferWise
In the next five years, fintech firms could pose a serious challenge to banks and record a significant increase in consumer adoption, according to a research from UKs peer-to-peer money transfer platform TransferWise.