Grasshopper Bank is partnering with finance automation platform Ramp to provide virtual and physical corporate cards with a host of features to its business clients. The $606 million digital bank and fintech worked together over the last six months to...
Brinda Bhattacharjee, chief operating officer for transaction banking in platform solutions at Goldman Sachs, will headline the fireside chat at the Bank Automation Summit U.S. 2023 on Thursday, March 2, at 10:00 a.m. ET, to discuss the bank’s digital-first strategy...
The Qatar Investment Authority has doubled its stake in Credit Suisse, becoming the second-biggest shareholder after the Saudi National Bank and underlining the growing importance of Middle Eastern investors to the ailing Swiss bank.The move comes as US shareholders sell...
In the 15 years since the practice of bundling loans was stigmatised for stoking the financial crisis, Europe’s securitisation markets have had more false dawns than its banks have had bailouts. Industry veterans are hoping for the first step towards...
UniCredit’s Andrea Orcel has halved the bank’s bill for external consultants since he took over as chief executive, slashing it by at least €75mn as part of his aggressive strategy to cut costs.The Italian bank paid more than €150mn to external consultants...
Banks are gearing up for the biggest round of job cuts since the global financial crisis, as executives come under pressure to slash costs following a collapse in investment banking revenues.The lay-offs — which are expected to be in the...
Morgan Stanley paid chief executive James Gorman $31.5mn for his work in 2022, down 10 per cent from $35mn a year earlier after the Wall Street bank reported lower revenues and profits. The smaller pay package means longtime JPMorgan Chase...
Ally Financial is looking to capitalize on recent layoffs of tech talent to grow its own digital platforms despite potential economic turbulence to come this year. WHY IT MATTERS: The $191 billion bank plans to survey the workers being laid...
Huntington Bancshares is planning to accelerate its automation efforts using savings gained from shuttering 63 branches in 2022. WHY IT MATTERS: Huntington outlined during its August 2022 Investor Day some core tech initiatives, including automating and enhancing the customer experience....
Truist Financial closed its acquisition of finance company BankDirect Capital Finance in the fourth quarter of 2022. The deal for the finance company to operate under the bank’s Truist Insurance Holdings arm was announced Sept. 6, according to a Truist...
