UBS to acquire Credit Suisse for CHF 3 billion
The Paypers
MARCH 20, 2023
Switzerland-based multinational investment bank UBS has agreed to buy lender Credit Suisse for CHF 3 billion following a series of urgent talks.
The Paypers
MARCH 20, 2023
Switzerland-based multinational investment bank UBS has agreed to buy lender Credit Suisse for CHF 3 billion following a series of urgent talks.
Accenture
MARCH 20, 2023
The COVID-19 pandemic increased the tempo of change in consumer behaviors and expectations. Payments, characteristically, is at the forefront of the change. In “Payments gets personal—strategies to say relevant,” our report on an Accenture survey of 16,000 payments customers across 13 different countries, we revealed how the return of meaningful interest rates is interacting with… The post Four strategies for consumer payments growth in 2023 appeared first on Accenture Banking Blog.
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Payments Dive
MARCH 20, 2023
The legacy money transfer company has lost the advantage of scale over younger fintechs like Remitly and Wise, but it’s discounting digital services to claw back customers.
CFPB Monitor
MARCH 20, 2023
On March 3, 2023, the U.S. Department of Justice (DOJ) filed a complaint against a towing company located near a Marine base alleging violations of the Servicemembers Civil Relief Act’s (SCRA) prohibition against default judgments against SCRA-protected servicemembers. The case, filed in U.S. District Court for the Eastern District of North Carolina, alleges that the towing company failed to make a good faith effort to ascertain the military status of defendants before filing affidavits in cour
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Payments Dive
MARCH 20, 2023
The card network company said it bought the cybersecurity business to better combat cyber-attacks in an increasingly threatening environment.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
MARCH 20, 2023
Apto Payments and Sardine are joining forces to offer commercial customers issuing cards better anti-fraud tools.
CFPB Monitor
MARCH 20, 2023
The CFPB has issued a request for information about business models that collect and sell consumer data, such as data brokers, data aggregators, and platforms. The RFI is intended to provide the CFPB with insight into the full scope of the data broker industry about which, according to the CFPB, “there is still relatively limited public understanding of their operations and other impacts.” .
TheGuardian
MARCH 20, 2023
European supervisors have tried to settle markets and stop a rout in the market for convertible bank bonds on Monday, as investors digest Credit Suisse rescue deal UBS agrees to takeover of stricken Credit Suisse for $3.25bn Central banks around world move to boost flow of cash amid confidence concerns Shares in Credit Suisse have tumbled by over 60% at the start of trading.
The Paypers
MARCH 20, 2023
Microsoft might be working on integrating a crypto and nonfungible token (NFT) friendly Web3 wallet into its Edge web browser, as software documenter Albacore finds.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
TheGuardian
MARCH 20, 2023
Finance stocks fall in Europe and Asia amid jitters over what UBS takeover deal means for bondholders Banking shares fell in London and across Europe on Monday after the emergency rescue of Credit Suisse by rival Swiss bank UBS failed to calm markets. In the UK, Natwest, Barclays and Standard Chartered were all down more than 7%, while HSBC and Lloyds also fell about 5% in early trading, before recovering some ground.
The Paypers
MARCH 20, 2023
India-based fintech platform PhonePe has secured USD 200 million in primary capital from retail corporation Walmart , at a pre-money valuation of USD 12 billion.
TheGuardian
MARCH 20, 2023
The US bank may need to raise more funds despite a $30bn rescue last week Shares in First Republic Bank dropped more than 17% on Monday, after reports the San Francisco-based bank may need to raise more funds despite a $30bn (£24bn) rescue last week. The credit rating of the regional bank was downgraded deeper into junk status by S&P Global. The agency said that the bank, which caters to wealthy clients, likely faced “high liquidity stress with substantial outflows”.
The Paypers
MARCH 20, 2023
India-based Infosys Finacle has partnered with ABN AMRO to implement the Infosys Finacle Liquidity Management Solution for the bank’s corporate clients.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
TheGuardian
MARCH 20, 2023
Global banking system is under pressure amid row over who should lose out first when a bank struggles Nils Pratley: Swiss solve one problem at Credit Suisse, but create another for bondholders Comment: Bonds were seen as a safe haven – but they are central to this bank crisis The global banking system is under renewed pressure after the Swiss government-brokered takeover of Credit Suisse by its larger rival UBS , after the deal wiped out the investment of bondholders who owned about $17bn (£14bn
CB Insights
MARCH 20, 2023
What is digital banking transformation? Digital banking transformation companies include omnichannel retail banking suites and multiproduct offerings that assist banks with digital transformations, from online opening and onboarding to customers’ mobile app experiences. Want the full expert post? Become a CB Insights customer. If you’re already a customer, log in here.
The Paypers
MARCH 20, 2023
Cybersecurity-as-a-Service (CSaaS) company Cyvatar has launched an ecommerce page to enable customers to purchase cybersecurity services directly from the company.
TheGuardian
MARCH 20, 2023
Decision over bonds rips up convention and could undermine confidence in banking system What are AT1 bank bonds – and why are Credit Suisse’s wiped out? Comment: Bonds were seen as a safe haven – but they are central to this bank crisis Here, first, is what the Swiss financial authorities got right. They recognised that outsiders’ confidence in Credit Suisse was shot.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
The Paypers
MARCH 20, 2023
Australian Payments Network (AusPayNet) has successfully adopted the ISO 20022 message standard.
BankInovation
MARCH 20, 2023
It’s 2023, and technologies like machine learning, robotic process automation, natural language processing and artificial intelligence are fast becoming ubiquitous in both customer-facing and back-office digital infrastructure, bringing financial institutions a wealth of opportunities to leverage automation across the business.
The Paypers
MARCH 20, 2023
The Bank of England ’s Prudential Regulation Authority has revealed its plans to change the capital treatment for small business lending.
BankInovation
MARCH 20, 2023
The collapse of Silicon Valley Bank presents an innovation opportunity for fintechs in treasury management as more bank clients look to multibank strategies to ensure security in their capital. For example, as companies look to diversify their balance sheets for risk management purposes, they’ll need a snapshot of all of their accounts in one place.
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
CB Insights
MARCH 20, 2023
What is open banking? Open banking companies use application programming interfaces (APIs) to give banks access to their customer data and allow them to share that data with fintech firms (with permission from the customer). This allows banks and third-party fintech firms to easily map and analyze vast customer data, which they use to improve digital experiences and products.
BankInovation
MARCH 20, 2023
UBS Group AG erased losses while investors digested the drawbacks and potential upside of its Credit Suisse Group AG takeover, a deal that forces it to wind down assets and restructure while handing over valuable assets at a bargain price. The government-brokered, 3 billion Swiss franc ($3.
CB Insights
MARCH 20, 2023
What are customer experience add-ons? Companies offer consumer-facing add-on solutions to enhance the customer experience and build customer loyalty. Solutions include white-label personal finance platforms that offer customized insights on money management, loyalty and cashback programs, and other card-linked offers. Want the full expert post? Become a CB Insights customer.
BankInovation
MARCH 20, 2023
Conversational AI can assist banks with customer needs while providing savings for the banks that use the technology. It allows financial institutions to better know and service customers via existing data, Erin Wynn, director of product management at technology company NCR Corp., told Bank Automation News.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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