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 […]
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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 […]
7 investment options to earn better than bank FD returns
Low Bank fixed deposit (Bank FD) returns have made them unattractive for most investors. Bank FD interest rates have fallen to the levels as seen in 2004-05. SBI Bank is offering interest rates between 2.9% and 5.4% across different tenures. The current bank FD interest rates are almost at par […]
Which central bank will launch world’s first digital currency?
A number of central banks are at various stages in creating and testing sovereign digital currencies. Image: SCMP Graphics The race among central banks to launch sovereign digital currencies is heating up. China has made considerable progress, with hopes of using its nascent digital currency to help internationalise the yuan, […]
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 […]
Investment bank Faida, UK’s VSA Capital ink deals pact
Faida Investment Bank has partnered with London-based VSA Capital, strengthening its ability to handle cross-border deals. The partnership with the international investment banking and broking firm will enable both to ride on their broad range of advisory skills and knowledge of corporates and investors throughout Africa for the benefit […]
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’ […]
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 […]
US STOCKS-S&P, Dow futures ease on J&J vaccine worries; bank, tech stocks shine
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window) * Apple gains ahead of expected new iPhone launch * Amazon rises as two-day ‘Prime’ shopping event gets underway * JPMorgan, Citigroup, BlackRock rise after results * Disney jumps as it turns around […]
Regions Bank Announces Disaster-Recovery Financial Services Following Hurricane Delta
Deferred payments and additional offers available as recovery moves forward. Regions Bank on Tuesday announced a series of financial services, including payment extensions and the waiving of certain fees, to help people and businesses in portions of Louisiana1 that were impacted by Hurricane Delta. This press release features multimedia. View […]
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 […]
Bank of Korea Set to Extend Hold as Virus Eases: Decision Guide
(Bloomberg) — The Bank of Korea is likely to keep its benchmark interest rate on hold on Wednesday, amid signs of economic improvement and a tapering of local coronavirus cases. All 21 analysts surveyed by Bloomberg expect the central bank to maintain its seven-day repurchase rate at 0.5% for the […]
Top Analyst Raises Price Targets on 4 High Dividend-Paying Bank Stocks
When the market blew up during the great financial crisis of 2007 to 2009, the bank and brokerage stocks were in part ostensibly the reason for the collapse, as they had aided and abetted the mortgage crisis. Two major brokerage firms went out of business, and Merrill Lynch was bought […]
Incentives and challenges of the Central Bank Digital Currency (CBDC)
A Central Bank Digital Currency (CBDC) is a digital form of central bank money as it is backed by a government’s central bank thus it is a direct liability of the central bank. As decentralized digital currencies such as bitcoin have become more popular, the world’s central banks are beginning […]
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 […]
Citizens Financial Group to Participate at the Bank of America Future of Financials Virtual Conference 2020
Citizens Financial Group, Inc. (NYSE: CFG) announced today that Vice Chairman and Chief Financial Officer John Woods and President of Consumer Lending Eric Schuppenhauer will participate at the Bank of America Future of Financials Virtual Conference 2020 on Tuesday, November 10, 2020 at 8:50 am ET. The live webcast will […]
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 […]
Fulcrum Energy Capital Funds Announces Acquisition of Natural Gas Assets Out of a Bank Foreclosure Process
DENVER, Oct. 13, 2020 /PRNewswire/ — Fulcrum Energy Capital Funds (“Fulcrum” or “the Firm”) is pleased to announce that the Firm continues to successfully execute on its strategy of acquiring high-quality assets available at attractive valuations in today’s market. By leveraging the Firm’s strong reputation and operational expertise, Fulcrum was able […]