Banking

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024.Brendan Mcdermid | ReutersThe forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle.As the memory of last year's regional banking crisis begins to fade, it's easy to believe the industry is in the clear. But the high interest rates that caused the collapse of Silicon Valley Bank and its peers in 2023…

In the digital age, banking apps have become our financial lifelines, offering ease and convenience for managing money like never before. Yet, with the constant influx of new Fintech apps, choosing the right one can be overwhelming. Whether you’re opening your first bank account or managing several, our guide to the top three iOS banking apps aims to simplify your choice. Having personally navigated through all three, I’ve found that each serves its purpose. We’ll delve into each app’s features, pricing, and…

Founded by former Silicon Valley engineers, UK-based Griffin Bank bills itself as an API-driven ‘Banking as a Service’ platform. After raising $28.1 million, it has now raised another $24 million (£19 million) in a fresh, extended Series A, funding round led by MassMutual Ventures, NordicNinja and Breega, with participation from existing investors Notion Capital and EQT Ventures. In June last year Griffin raised a $13.5 million in a Series A round led by MassMutual Ventures, with participation from existing…

AI in Banking market: Revolutionizing financial services through innovation and prosperity AI in Banking Market Prediction: In the ever-evolving landscape of finance, one technological revolution stands out above the rest, i.e., Artificial Intelligence. With its transformative capabilities, AI has become the cornerstone of innovation within the banking sector, poised to reshape the industry in profound ways. The AI in Banking market size was valued at US$13.34 billion in revenue in 2023 and is anticipated to…

Vice President Kashim Shettima on Wednesday mourned the former Group Chief Executive Officer of Access Holdings Plc, Herbert Wigwe, and his family, who tragically died in a helicopter crash in the United States of America. Mr Shettima, in a lyrical eulogy, described the late Mr Wigwe as an early bloomer who transformed the Nigerian banking industry, recalling his visionary leadership and unwavering dedication to his community. Addressing a crowd of mourners in Lagos during the funeral service of the late banker,…

Worried by the exodus of banks from many areas in the state, the Ekiti State government has disclosed that it is taking financial services to all 177 wards in the state through agency banking. It would be recalled that as a result of incessant bank robberies, many financial institutions have relocated from many local government areas in the state, leaving residents to travel to the state capital for banking transactions. According to the government, the intending banks for the proposed programme include Wema,…

A new generation of artificial intelligence is poised to turn old assumptions about technology on their head. For years, people working in warehouses or fast food restaurants worried that automation could eliminate their jobs. But new research suggests that generative AI — the kind used in chatbots such as OpenAI’s ChatGPT — will have its biggest impact on white-collar workers with high-paying jobs in industries such as banking and tech. A report published last month by the Burning Glass Institute, a nonprofit research…

Birlasoft is eyeing large clients in the banking, financial services and insurance (BFSI) space as the mid-size information technology services company aims to mark its place in the top quadrant of the industry, its chief executive told ET.“Our endeavour is to start serving the top banks, or the top insurance companies and asset management companies. In fact, we have a large number of conversations that are going on with them,” Angan Guha said. “In BFSI, we (currently) don’t serve the top banks or insurance companies, but…

The tussle between Google and Indian internet companies over Play Store policies intensified on Friday with the US tech major delisting some local apps. Details on this and more in today’s ETtech Top 5.Also in this letter:■ SME IPOs for tech companies■ ETtech Deals Digest■ Potential of Google’s Genie AIGoogle removes some Indian apps from Playstore citing non-compliance Google on Friday began removing the apps of 10 Indian companies over non-payment of service fees, the latest move in the tussle over…

The RBI's recent actions have generated a wave of passionate responses from the Indian fintech community. Through this open letter, I hope to share my personal observations and opinions on some of the challenges related to the fintech landscape in India and the role of the RBI. I have always held the position that RBI is one of the strongest regulators globally and is pro-consumer and anti-risk and not anti-startup. India boasts a very stable banking ecosystem and has seen far fewer bank failures when compared to some of…