Banks

Finance seeps into the very fabric of our daily lives — for individuals and businesses alike, so it only seems fitting that banking and financial services keep up with the times and imbibe technology into most, if not all processes. There is also the fact that India is the third largest FinTech ecosystem in the world. Following suit only after the US and China, the Indian FinTech market–valued at $31 billion (roughly Rs. 2,40,600 crore) in 2021– is poised for a quantum leap. In the next five years, FinTech is expected to…

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FBN Holdings Plc, through its subsidiary First Pension Custodian Limited, agreed with Access Bank Plc to buy out the latter’s pension subsidiary Access Pension Fund Custodian in a deal involving 100 per cent ownership transfer. The acquisition will ease the path for First Pension Custodian to broaden its footprint in a sector where it has operated for 17 years in charge of safe-keeping of pension assets on behalf of contributors. “The Central Bank of Nigeria and the National Pension…

Federal Reserve Bank of New York President John Williams said that lowering inflation is the U.S. central bank’s main mission now and he doesn’t think moving monetary policy to a more restrictive stance would cause a recession. “The challenge for monetary policy today is clear: to bring inflation down while maintaining a strong economy,” Mr. Williams said in a speech Tuesday in Germany. “I am confident we have the right tools to achieve our goals,” he said. Federal Reserve Bank of New…

The composer of one of the most iconic tunes of 90s, Mile Sur Mera Tumhara, Louiz Banks turned 80-year-old today. Known as the Godfather of Indian Jazz, Banks’ contribution to contemporary and Indo-fusion jazz is incomparable. A book on Banks titled Louiz Banks, A symphony of Love by Ashis Ghatak, which was published on the occasion of his 80th birthday, traces the journey of the musician from clubs of Calcutta to International acclaim, his golden stint at Bollywood with RD Burman and gives many wonderful details about…

"Buy now, pay later" giant Klarna says it will start reporting data on customers' usage of its products to credit bureaus in the U.K., gearing up for incoming regulations aimed at reining in the sector over fears it is putting young people into debt.Starting June 1, the Swedish fintech firm will share information on whether Brits paid off an installment loan in time or are falling behind on their payments to TransUnion and Experian, meaning such data will now start to appear on their credit reports. Klarna has around 16…

The cryptocurrency industry has been quietly lobbying U.S. lawmakers against legislation designed to prevent Russian oligarchs from using digital currencies to evade sanctions imposed on Russian President Vladimir Putin's allies and their companies following Russia's attack on Ukraine.The Blockchain Association, a lobbying group that represents more than 70 crypto platforms including Ripple, Crypto.com and Dragonfly Capital, is trying to convince Congress that cryptocurrencies aren't being used by wealthy Russians to to…