HSBC plans to increase spending in 2024 as the bank invests in technology and its people. Costs are expected to grow to $31.2 billion, up 5% compared to 2023 due to higher technology spend and an increase in staff compensation,...
Allison Baller, Federal Reserve Bank of Boston vice president and head of industry readiness for FedNow, will speak at Bank Automation Summit U.S. 2024. Baller will join the panel “Strategies for automating real-time payment processes” on Tuesday, March 19, at...
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Central Bank may be grappling with two types of inflation: that of prices — and also, allegedly, of job titles....
Alice Crundwell and William Bennett Accurate measures of the number of firms at risk of failure are becoming increasingly important for policymakers, as corporate insolvencies are continuing to rise and interest rates are expected to remain higher than over much...
Readers who have tried to set up a lasting powers of attorney for themselves or a relative may find that certain banks have very limited capacity when it comes to dealing with the paperwork. As the population ages, the need...
Capital One announced its plans to acquire Riverwoods, Ill.-based Discover Financial Services and expects to spend $2.8 billion on integration costs, including tech conversion. “Capital One certainly has some good experience in the space. … They have done a number...
Barclays is saving money and improving its customer experience through technology investments. Total operating expenses for its investing banking arm were 7.7 billion pounds ($9.4 billion) in 2023, down 6% from 2022, reflecting that investment in talent and technology were...
Truist Financial Corp. is nearing a deal to sell a majority stake in its insurance brokerage business to Stone Point Capital and Clayton Dubilier & Rice, people familiar with the matter said. The sale of the stake in Truist Insurance...
Pay for bank’s chief CS Venkatakrishnan also drops 13 per cent READ SOURCE...
Capital One Financial Corp. agreed to buy credit-card lender Discover Financial Services in a $35 billion all-stock deal to create the largest US credit card company by loan volume. McLean, Virginia-based Capital One will pay 1.0192 of its own shares...
