ClearBank has appointed a new chief financial officer (CFO) and chief information officer (CIO). UK clearing bank adds two to its executive ranks. James Hopkinson joins ClearBank from Standard Chartered and takes up the CFO position. Hopkinson spent almost 20 years at the bank in a variety of roles. Most recently...
HSBC France is seeking to cut 255 of 678 jobs in its French global banking and markets unit by end-2021, according to French news daily, Les Echos. HSBC France is seeking to cut 255 of 678 jobs. This measure forms part of a broader plan to reduce costs. It comes at...
Ant Group, the fintech arm of Chinese ecommerce giant Alibaba, is planning on a Hong Kong float as soon as this year, according to Reuters. Ant is targeting a valuation of more than $200 billion, according to two Reuters sources with knowledge of the matter. Ant is targeting a valuation of...
PolicyBazaar’s chief executive officer (CEO), Yashish Dahiya, says that a huge expansion pushed by investors including SoftBank was a “mistake” that led the company to run at a loss. On 7 July, SoftBank’s Vision Fund reportedly bought an additional stake in the insurtech worth $130 million, according to the Times...
With a world that is becoming increasingly complex, both consumers and businesses are actively seeking out financial service providers that can achieve their financial goals in a manner that’s relevant and seamless. The fewer steps it takes to achieve any objective, the better. Open banking provides a unique opportunity for...
In a world where headlines can be dominated by new technology like artificial intelligence, quantum computing, application programming interfaces (APIs) and more, it can be easy to overlook the long-time workhorse of the financial services sector. In a digitising world the core remains the heart of banking The core banking system...
A collection of major card issuers are rolling out the new Click to Pay e-commerce standard across the globe. Click to Pay claims 10,000 firms on board in the US American Express, Visa, Mastercard and Discover claim to have signed up more than 10,000 merchants in the US since launching Click...
Deutsche Bank has been hit with a $150 million fine for failing to properly monitor its relationship with convicted sex offender Jeffrey Epstein, as reported on the BBC. New York state regulators says the bank had suffered “significant compliance failures”, processing hundreds of transactions for the late financier. Those included payments...
Barclaycard Payments has extended its contract with SAP to enable the latter’s clients to use its payments gateway product, Smartpay. SAP and Barclaycard team up once again Any business signed up to SAP’s software-as-a-service (SaaS) offering, Commerce Cloud, can access Smartpay. SAP says user will be able to take advantage of “frictionless...
JP Morgan Chase & Co is eliminating terms like “blacklist,” “master” and “slave” from its internal technology materials and code as it seeks to address racism within the company, according to Reuters sources with knowledge of the move. The terms had appeared in some of the bank’s technology policies, standards...