Citizens boosts tech spend, attacking back office and point-of-sale lending
Citizens Bank is accelerating its tech investments to speed up migration to the cloud, as well as to support new digital...
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Weekly Wrap: Big banks address Libra as challengers seek to lure customers
Welcome to the first episode of our new weekly wrap video series, for the week ending July 19, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How bank executives, including JPMorgan Chase and Citibank, are beginning to address Facebook’s planned digital currency Libra in their earnings calls […]
Capital One: Pressure from non-banks is hurting commercial lending
Capital One‘s commercial lending business is facing price pressure from a saturated market of lenders, including non-banks, that are pushing interest rates down. “Increasing competition from non-banks continues to drive less favorable terms in the commercial lending marketplace,” CEO Richard Fairbank told investors on Thursday. Capital One isn’t alone in facing this pressure in the […]
Bankers prepare for GDPR-type regulations to take hold in the US
The GDPR bogeyman is now preoccupying bankers in the U.S. The EU’s General Data Protection Regulation (GDPR), which took effect in May of last year, gives customers the right to know what data institutions keep about them, the right to demand that institutions delete personal data and the right to be forgotten. So far, it’s […]
eBay accelerates payments push
eBay is pushing forward with efforts to move payments in-house instead of relying on PayPal. The company is taking a staged approach to its payments product launch with the goal to reach full rollout by 2020, a move that will let the company take control of the user experience, grow revenue and reduce overhead costs […]
Truist, the combined BB&T-SunTrust bank, looks to defend its turf
BB&T isn’t worried about losing market share during its pending merger with SunTrust Banks to form Truist Financial, nor is it worried about the combined bank’s name, which has come under no shortage of scrutiny. That’s according to BB&T CEO Kelly King, who will be CEO of Truist once launched. Truist, which will be headquartered […]