UK Neobank Monzo Records First Monthly Profits
British neobank Monzo said that it managed to achieve profitability.
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Wells Fargo Reportedly Works With Borrowers as Office Sector Struggles
The media reports that Wells Fargo management expects that the activities of this financial institution in the field of real estate lending will have a negative result in the form of losses.
Kasisto Introduces Banking-Specific LLM KAI-GPT
The KAI-GPT large language model (LLM) is designed to address the banking industry’s unique needs for accuracy, transparency, trustworthiness and customization
HKMC Pilots Infrastructure Loan-Backed Securities
The Hong Kong Mortgage Corporation Limited (HKMC) successfully completed its first issuance of infrastructure loan-backed securities under the pilot scheme on infrastructure financing securitisation
Amex to Use AI to Improve Customer Experience
After numerous experiments, American Express (Amex) aims to utilize AI technology for approving credit lines as well as providing predictive analytics
Nymbus Lands $70 Million to Help Banks Digitally Transform
Nymbus startup announced the attraction of investment funds in the amount of $70 million following the results of the Series D financing round.
Citigroup Plans IPO for Mexican Banking Unit Banamex
Citigroup announced its decision to take public its retail banking services division Banamex, which is based in Mexico.
Tyme Raises $77.8 Million to Grow South Africa, Philippines Operations
Digital banking group Tyme announced the attraction of investment funds for $77.8 million following the results of the Series C financing round.
Citizens Bank to Pay $9 Million Fine Over Credit Card Billing Errors
The Consumer Financial Protection Bureau (CFPB) and Citizens Financial Group were able to reach an agreement on the CFPB complaint.
JPMorgan On Track to Deliver $1 Billion in Value Through AI
JPMorgan last Monday, May 22, held an investor day, during which the vectors of further activities of the bank holding were outlined, including intentions related to the use of artificial intelligence were announced.
Venmo Introduces Teen Accounts
Parents and legal guardians can now open a Venmo account for their teenage children that also comes with a debit card
Revolut Has a New Offering for Australian Businesses
Besides a new offering for businesses in Australia, the crypto-friendly digital bank Revolut is still looking to secure a banking license to expand its services UK-based fintech firm Revolut has launched international payments-focused accounts for business clients in Australia, looking to create an app or platform where “people can manage their entire financial lives in […]
N26 Brings Yield-Bearing Savings to Spain
The new N26 Instant Savings account offers customers in Spain a 2.26% yield, empowering customers to have a better relationship with their money
TD Bank Needs Years to Address Regulators Concerns
An analyst at Barclays Plc claims that, with a high degree of probability, Toronto-Dominion Bank will not be able to conclude deals on the acquisition of retail banking services in the United States for the next few years.
Revolut to Begin Offering Loans in France
Revolut announced plans to expand activities in France over the next two years.
CFPB Warns Banks Against Creation of Fake Accounts for Fee Harvesting
Consumer Financial Protection Bureau (CFPB) The United States has issued a circular stating that banks unilaterally deciding to reopen a deposit account for processing transactions, previously closed by a customer violate the Consumer Financial Protection Act.
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