Fintech Is Making Small Banks Look BigYou love your community bank for its personal touch, that it offers free special services like notarizing documents and really free checking, even free checks. And the customer service makes banking pleasant.Read the rest of this entry »
But when it comes to doing business online, well, that's not where community banks shine. That's beginning to change now, as community banks look to fintech to help them offer the kinds of digital services and ...
Funds In Private Tech Growth Class See Capital InfluxTech-focused venture capital is growing fast in the U.S. -- from raising $11 billion in 2009 to $41 billion last year. Including private technology growth investors, the sector is on track to raise more than $50 billion this year.Read the rest of this entry »
A new report from SharesPost, an investment advisory service, says that coincidentally with the rise in funds, private tech companies have been growing their capital needs, raising more than $200 billion ...
It Doesn't Matter Who Wins, the Fed Is In ControlWhen it comes to the nation's financial policy it doesn't matter who wins the presidential election, Janet Yellen and her Federal Reserve Governors will be the center of attention.Read the rest of this entry »
Because of gridlock in Congress, Modern Trader magazine expects financial policy will be up to the Federal Reserve, just as it's been for the last several years.
In a scathing article that criticized the Fed's monetary policies ...
AI Technology is Helping Banks Personalize ServiceFinancial institutions are turning away from the traditional standardized list of products in favor of customer-facing services that are customized or customizable to the individual.Read the rest of this entry »
How are they managing to provide individualized advice to such thorny questions customers ask as "How much money will I need for retirement?" and "Where should I invest to achieve my goals?"
Technology. And more specifically, the increasingly sophisticated artificial intelligence tools that offer help ...
Bank Behavior Little Changed, Says Fed GovernorThe Wells Fargo scandal that resulted in a $185 million fine against the giant bank shows little has changed in the industry since the 2008 financial crisis, said a member of the Federal Reserve Board of Governors.Read the rest of this entry »
"I don't think (bank behavior) has changed enough," Daniel Tarullo said in an interview with CNBC.
"There is a need for a focus on individuals as well the fines on institutions. In ...
Former SEC Chair says: Reports of Bitcoin's Impending Demise Are WrongIn June, Citi Research issued a report that in 56 pages largely concluded the bitcoin phenomenon was unlikely to disrupt the global banking and credit networks.Read the rest of this entry »
"The benefit to the consumer from a decentralized system seems at best marginal with the only exception being anonymity," say the authors of the detailed analysis.
Now comes a rebuttal in American Banker, penned by Arthur Levitt Jr., former chairman of the Securities and ...
Banks Beginning to Embrace Robo Financial ManagementWhen suburban Boston's Cambridge Savings Bank decided to offer financial planning and wealth management services, it surveyed its customers. The findings surprised the $3.2 billion bank's top management.Read the rest of this entry »
The customers said they'd rather just be given the tools and they'd take care of the rest.
“Initially, we anticipated supporting the branch network with a team of traditional financial advisers,” Cambridge CEO Wayne Patenaude told Financial ...
Banks Are Burnishing Their Image In Quest For Tech HiresCool may not be the first (or last) word that comes to mind when talking about working for a bank. That's one reason the industry has such a hard time recruiting white hat hackers. The other reason, of course, is that there are more jobs than there are cybersecurity professionals.Read the rest of this entry »
To counter their image and stimulate, if not excitement exactly, then interest in what they have to offer, banks ...
New Loan Loss Accounting Standard ComingRead the rest of this entry »
The widely anticipated new standards for accounting for loans and securities is expected to be released late ...![endif]-->!--[if>![endif]-->!--[if>![endif]-->!--[if>![endif]-->!--[if>
The "Rich List's" Billion Dollar Hedge Fund ManagersFive hedge fund managers earned more than $1 billion each last year, according to Institutional Investor's Alpha's 15th annual Rich List.Read the rest of this entry »
Topping the list of the 25 best paid hedge fund managers are
Kenneth Griffin, founder of Citadel, and Renaissance Technologies' founder James Simons. Both were paid $1.7 billion.
Three others -- Bridgewater's Raymond Dalio, Appaloosa Management's David Tepper and Millennium Management's Israel Englander -- each ...