Cybercrime Becoming Banking's Biggest WorryRead the rest of this entry »
Bad credit used to be the biggest worry for banking executives. Now, cybercrime is rapidly overtaking it.
At a roundtable discussion at a conference in New York last week, executives from some of the nation's largest banks said that in the wake of the summer's massive Equifax hack, their fears of a security breach at their institution have intensified.
U.S. Bancorp CEO Andy Cecere was quoted by ...
7 Trends That Should Have Banks Rethinking StrategyRead the rest of this entry »
In a sobering analysis of seven trends that will have a profound and growing influence on banking, consultants Bain & Company say the industry and its leaders "need to manage for the long game." "Discussions about strategy, which typically cover three-year horizons, should in fact extend to a decade-long perspective.
In the decade since the start of the Great Recession, the financial services industry has seen the rise of multiple ...
Most Insurance Companies Plan to HireRead the rest of this entry »
Fueled by an expectation that their revenue will increase, 62% of insurance companies plan to add staff by the end of the year, with small firms leading the way.
The latest version of Aon Hewitt's Insurance Labor Market survey reports a broad optimism among insurance companies, with 81% expecting to grow revenue. That's a full 10 points higher than in the previous survey in January. It's the ...
How Technological Advances Are Changing BankingRead the rest of this entry »
A new survey of thousands of business and IT leaders found wide agreement on how they are harnessing technology to change the way business is being done.
Of the more than 5,000 leaders participating, some 1,100 were in the financial services sector. They identified five key trends driven by the rapid pace of technological innovation:
- By large majorities -- more than 7 in 10 -- banking and insurance executives see ...
Wall Street Spreads Across the NationRead the rest of this entry »
Wall Street is the finance capital of the U.S. and one of the world's leading banking centers, but with the cost of living and doing business in New York similarly ranking at the top, financial institutions have been slowly shifting some of their operations elsewhere.
The Dallas metro area has become an attractive location for banks and financial services firms. Goldman Sachs, J.P. Morgan, Bank of America ...
Banks Are Beginning to Embrace BlockchainAs banking continues its embrace of fintech, interest is fast developing in using blockchain technology. Santander InnoVentures estimated that banks could save $15-$20 billion a year by dumping their current transactional processes in favor of using blockchain.Read the rest of this entry »
Over the last few years, the technology has, to its detriment, been associated with the bitcoin currency and its sometimes unsavory uses. Though blockchain may have been developed to facilitate bitcoin transactions ...
Hedge Fund Founder: Global Economy Headed for DisruptionThe global economy is chugging along "at or near its best" right now. But the longer term "looks scary," writes Ray Dalio, founder, chairman and chief investment officer of Bridgewater Associates, one of the largest hedge funds in the world.Read the rest of this entry »
He's fretted in the past over the potential for social upheaval caused by national financial policies and economic disruption. In his latest article, Dalio argues that while the outlook ...
We Need Google to Tell Us Where the Bank IsCould it be we all so infrequently go to the bank that we need to Google the nearest branch location?Read the rest of this entry »
That's one explanation for the surge in searches using terms like “bank branch,” “nearest ATM” and “nearest branch.” Since around 2011 there's been a steady rise in Google searches using these terms, which happens to coincide with a similarly steady decline in visits to physical banking facilities, reports ...
JP Morgan Is Top Pick For Financial ProsFinancial professionals would prefer to work for JP Morgan more than any other company on earth.Read the rest of this entry »
That's what an online survey completed by almost 6,000 respondents said. The investment bank garnered more votes than other firms to capture the #1 ranking in the annual eFinancialCareers Ideal Employer survey. JP Morgan displaced last year's winner, Goldman Sachs, which came in second.
That two of the world's financial ...
Employment Growth Is SlowingEvery month, usually on the first Friday of the month, the Bureau of Labor Statistics issues what it calls the Employment Situation Summary. It's a data-rich snapshot of hiring, pay, and civilian employment -- and unemployment -- for the previous month. It's a closely watched report by economists, policymakers, investors and analysts, among others; it has the power to move the financial markets.Read the rest of this entry »
As headline making as the monthly reports ...