The Australian central bank sees no need to issue its own retail digital currency just yet, a top official said Wednesday. Tony Richards, head of payments policy at the Reserve Bank of Australia (RBA), told the UWA Blockchain, Cryptocurrency and Fintech conference that his agency had evaluated retail central bank […]
Bank and Digital Finance
Fujitsu Accelerates Digital Transformation at Mizuho Bank Branches with Innovative Tablet Solution
TOKYO, Oct 14, 2020 – (JCN Newswire) – – Fujitsu Limited and Banking Channel Solutions Limited(1) in collaboration with Mizuho Information & Research Institute, Inc. today announced that they have developed and delivered a tablet solution for Mizuho Bank, Ltd. that enables customers to make deposits and withdrawals, complete bank […]
Flipkart Banking On Fintech To Boost The Big Billion Days Sale
Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! October 14, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. Flipkart has announced partnerships with several banking, insurance and financial service entities, […]
Euromoney China’s digital currency: A small leap forward
China’s central bank is handing out Rmb10 million ($1.5 million) worth of free digital tokens to people living in a suburb of the tech-heavy city of Shenzhen this week, as it pushes ahead with plans to roll out a national virtual currency. The test scheme – a pilot-within-a-pilot – started […]
The Bank of England asks UK banks how ready they are for negative interest rates
General view of the Bank Of England on September 27, 2020 in London, England. Peter Summers/Getty Images The Bank of England has written to British banks, seeking information on how ready they are for monetary policy that adopts negative interest rates. “We are requesting specific information about your firm’s […]
European Central Bank seeks public input on digital euro
The European Central Bank launched a public consultation on a potential digital euro on Oct. 12. Developments on the central bank digital currency front in the Eurozone have picked up pace amid the COVID-19 pandemic, and the central bank has framed its introduction to the public consultation with the claim […]
Reserve Bank of Australia still researching the CBDC it says it doesn’t need
The Reserve Bank of Australia has revealed it’s continuing to research a central bank digital currency (CBDC) less than a month after stating that there was no need for one. The RBA also revealed it is considering the possibility of a more targeted “wholesale” CBDC. Speaking at the University of […]
Former Barclays execs to launch digital bank
A team of financial services experts led by two former Barclays executives has unveiled plans to launch Pennyworth, a new digital bank to serve the needs of young professionals and middle managers. Pennyworth, founded by Jeremy Takle and Ben Harvey, formerly managing director and head of product at Barclays’ […]
Here are the top finance stories of the day for October 13
Citi reports on its third quarter this morning after what has been a hectic few months for the bank. There will likely be some questions about its recent regulatory fine and executive shakeup. Buy-side giant BlackRock and Wall Street’s biggest bank by assets, JPMorgan Chase, are also up. If you’re […]
Citibank Bangladesh wins at 2020 World’s Best Digital Bank Awards
The bank also secured places in Best Online Cash Management Services in Asia Pacific, Best Online Treasury Services, Best Mobile Adaptive Site, Best Mobile Banking App and Best Open Banking APIs rankings of the Global Finance Citibank NA Bangladesh was recently named in the World’s Best Digital Bank Awards, an […]
China’s central bank urges faster digital yuan roll-out as other countries begin tests
China’s central bank is calling for the faster implementation of a nationwide roll-out of its sovereign digital currency. Photo: Shutterstock China should accelerate its efforts to launch a sovereign digital currency, elevating it as an important part of an “independent” financial infrastructure in the digital era, a top Chinese central […]
JPMorgan third-quarter earnings beat forecasts as a rebound in global markets lifted the bank’s trading revenue by 32%
Mario Tama/Getty JPMorgan Chase reported third-quarter earnings Tuesday that beat forecasts, thanks to strong gains in the bank’s equity markets division that reaped the reward of the rebound in global markets. Investment-banking revenue rose 12%, fixed-income markets revenue rose 29%, and revenue from equity markets rose 32% in the […]
Central banks eager to master digital currencies
Most central banks across the world are now scrambling to master the concept of digital currencies, a disruptive technology once they looked upon with regulatory scepticism.Seeking to win a first-mover advantage in the race, China’s central bank is issuing 10mn yuan ($1.5mn) worth of digital currency to 50,000 randomly selected […]
Crises in 2020 Are Accelerating Change at Biggest Banks
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The country’s biggest banks are due to report their earnings for the third quarter this week. These results will likely indicate how the financial industry has been navigating some of the biggest headwinds in the country’s history: a global pandemic, heightened climate crisis, accelerated digital transformation, competition with fintechs around […]
Kish Bank Selects CSI Core to Build Its Branch of the Future
Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, announced that Belleville, Pennsylvania-based Kish Bank ($1.048 billion in assets) has selected and implemented its NuPoint® core platform to help the bank realize its growth goals and support its focus on digital transformation. Kish Bank serves […]
Bank of Russia issues consultation paper on digital ruble
Russian financial authorities have confirmed the government’s purported plans to issue the central bank digital currency, or CBDC. On Oct. 13, the Bank of Russia released a consultation paper on the development of the digital Russian ruble. In the statement, the central bank said that the digital ruble can become […]
Bank account helps children develop healthy saving and spending habits
Parents and kids now have a way to help them manage allowances, monitor spending, save towards a goal and even digitally invoice for completed chores. Launching today, Chase First Banking is a new checking account designed to help parents teach kids and teens about the importance of money management through […]
The New Digital Thundering Herd
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Wall Street Bull Moment Editorial/Getty Images We often hear advice to avoid herd mentality, but when it comes to Merrill Lynch’s approach to technology and wealth management, it’s time to follow the thundering herd. Some 85% of Merrill Lynch’s clients in its 10 million plus cohort are digital adopters. That […]
Digital Banking Market Demand to Hit $12 Trillion by 2026; Global Market Insights, Inc.
SELBYVILLE, Del., Oct. 13, 2020 /PRNewswire/ — Global Market Insights, Inc. has recently added a new report on the digital banking market which estimates the market valuation for online banking will cross US$ 12 trillion by 2026. The extensive adoption of online banking platforms and proliferation of mobile banking solutions are anticipated […]
Technisys Customer ATB Financial Introduces New Digital-Only Banking App
Cyberbank was selected by ATB following an extensive review of 160 digital core banking providers worldwide. Tweet this John Tarnowski, executive vice president at ATB Financial said: “With Brightside, we’ve created a seamless digital experience so Albertans can have more time to focus on the things they love and save […]