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 ...
What's Fintech All About? Here's a PrimerFintech, a word that didn't even exist until late in the last decade, is now the hotest buzzword in the financial industry. It may not yet be a household term, but as a Bloomberg report says, "fintech has become shorthand for a digital revolution that could sweep away antiquated banking practices."Read the rest of this entry »
From a consumer perspective, this revolution has enabled mobile banking, online money management and is simplifying consumer lending ...
Bank Tests Fully Automated BranchesThe Bank of America is testing fully automated branches, that, if successful, could replace the tellers, cashiers and managers that staff a typical branch.Read the rest of this entry »
Three branches in Denver and Minneapolis have ATMs and video-conferencing that enable customers to speak with bankers located in remote centers. For now, each site has an on-site staffer who can assist customers.
Discussing the experiment, Dean Athanasia, co-head of consumer banking, said, "We want ...
Economists Speculate Trump Policies Could Force Fed Rate HikesThe Federal Reserve held off hiking interest rates during its first meeting of the year that ended this week, but economists and financial managers expect that will happen at the Fed's next meeting in March.Read the rest of this entry »
At its December meeting the Fed signaled there could be three rate hikes in 2017. That was only a projection; much depends on national and global economic conditions.
Now, analysts are weighing an additional ...
Why Is Warren Buffett Buying Stocks?What does Warren Buffett know that the rest of us don't? Plenty, when it comes to investing. So when the Oracle of Omaha goes on a stock buying spree, it makes news.Read the rest of this entry »
Talking with Charlie Rose last week, Buffet revealed he bought $12 billion of stock for his company Berkshire Hathaway since the election. Now that's a goodly sum, accounting for better than 11% of the company's ...
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 ...