All articles by Douglas Blakey
Douglas Blakey
Strong consumer finance performance helps Citi Q3 2023 revenues beat forecasts
Citigroup revenue rises by 9% y-o-y for the quarter to end September with net income ahead by 2% boosted by growth in consumer finance and institutional client segments
JPMorgan Chase Q3 2023 earnings beat forecasts, net income +35% to $13.2bn
Chase reports a 21% rise in net revenue for the quarter to end September, boosted by strong net interest income growth reflecting higher deposit margins
More than 40% of banks fall victim to financial crime in last six months
SmartSearch renews warning that not all banks always complete checks to verify identity of new customers
Israel-Hamas conflict: markets reaction latest
On 7 October 2023, Hamas led attacks into Israel and six days on, the markets are still reacting
Wells Fargo extends advice and planning, LifeSync access to all retail banking customers
Strategic expansion gives more Wells Fargo customers personalised, digital goal-setting experiences
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UK consumer behaviour remains erratic, Bank of England warns lenders on defaults
The number crunchers at FICO are again sending warning signals to lenders while the Bank of England warns lenders to prepare for a rise in defaults
Banking on technology as sector-wide job cuts take place
Staff layoffs are by far the most popular cost-saving measure across banks this year writes Blandina Hanna Szalay. At the same time, spending on AI, forecast to displace more and more employees, continues to rise
Backbase launches Grand Central, its new-gen integration solution
Engagement banking platform provider, Backbase, dedicates $10m fund to fuel innovation
Signal: kennek raises $12.5m to revolutionise the alternative lending space
Capital raise led by HV Capital and other leading VCs. Funding will be used to double down on growth in the UK and expand into continental Europe
Loyalty hurting UK savers who fail to switch bank
Two-thirds (66%) of UK consumers have not opened a new savings account in the past two years, despite most (62%) knowing there are better rates available if they do move bank