Banking Industry News

A collection of Banking latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

techcrunch.com - Christine Hall - Paystand banks $50M to make B2B payments cashless and with no fees
Paystand banks $50M to make B2B payments cashless and with no fees
TechCrunch

Image Credits: jossnatu / Getty Images It's pretty easy for individuals to send money back and forth, and there are lots of cash apps from which to choose. On the commercial side, however, one business trying to send $100,000 the same way is not as…

reuters.com - Huw Jones - KPMG's banking audits not up to scratch, says UK watchdog
KPMG's banking audits not up to scratch, says UK watchdog
Reuters

LONDON, July 23 (Reuters) - KPMG's audits of banks needed improvements for the third year running and the accounting firm will be closely monitored, Britain's auditing watchdog said on Friday in its annual check of leading accountants. Checks of…

businessinsider.com - Gregory Magana - Starling Bank moves toward profitability
Starling Bank moves toward profitability
Business Insider

Starling Bank's latest annual report reveals steady progress toward its profitability goals. Starling has strived toward steady growth and to become profitable. Ramping up its presence in SMB banking is a key pillar of its strategy. Insider…

bloomberg.com - Tracy Alloway - The Case for Stablecoins Being the New Shadow Banks
The Case for Stablecoins Being the New Shadow Banks
Bloomberg

What keeps breaking the buck, is engaged in financial transformation, and keeps on growing? The value of the top four stablecoins has surpassed $100 billion in the space of four years, and the coins — which trade on a blockchain but attempt…

reuters.com - U.S. Treasury's Yellen tells development banks to mobilize private capital for climate fight
U.S. Treasury's Yellen tells development banks to mobilize private capital for climate fight
Reuters

WASHINGTON, July 22 (Reuters) - U.S. Treasury Secretary Janet Yellen told the heads of the World Bank and other multilateral development banks on Thursday to come up with concrete plans to mobilize significantly more capital to fight climate change…

reuters.com - NatWest agrees to sell Ulster Bank assets to Permanent TSB
NatWest agrees to sell Ulster Bank assets to Permanent TSB
Reuters

LONDON, July 23 (Reuters) - Britain's NatWest Group (NWG.L) agreed to sell assets from its Irish arm to Permanent TSB (IL0A.I), a move the mortgage lender and analysts described as a 'once in a generation opportunity' for PTSB to compete with…

techcrunch.com - Manish Singh - India considering phased roll out of central bank digital currency
India considering phased roll out of central bank digital currency
TechCrunch

India's central bank is considering launching a digital currency, according to a top executive, giving a clear indication of its intentions for the first time after previously stating that it was studying the idea. T Rabi Sankar, the deputy…

telegraph.co.uk - Simon Foy - KPMG banking audits are not good enough, warns watchdog
KPMG banking audits are not good enough, warns watchdog
The Telegraph

Unlock unlimited access to telegraph.co.uk, plus the latest news updates and daily newspaper in our app. Cancel anytime. The accounting watchdog has singled out KPMG for an “unacceptable” failure to meet required standards in its…

telegraph.co.uk - Jeremy Warner - No 10 chaos has hamstrung the Bank of England
No 10 chaos has hamstrung the Bank of England
The Telegraph

Downing Street is not the only authority which seems not to have a clue what it is doing any longer; the Bank of England, which is virtually at war with itself over the outlook for the economy and how best to address it, is similarly mired in…

forbes.com - Mark Sparrow - Zendure's SuperMini Power Bank Now With Apple Lightning Port
Zendure's SuperMini Power Bank Now With Apple Lightning Port
Forbes

Power banks are handy little gizmos that can keep our smartphones and gadgets topped up throughout a long and busy day. Hopefully, they won't be necessary once all our phones are powered using fuel cells, but until then they are necessary. Zendure…

bloomberg.com - Stephanie Bodoni - KPMG's Banking Audits Aren't Good Enough, U.K. Watchdog Says
KPMG's Banking Audits Aren't Good Enough, U.K. Watchdog Says
Bloomberg

The FRC publishes its annual audit quality inspection report Report finds one third of all U.K. audits need improvement KPMG LLP faced renewed criticism for the quality of its banking audits after the U.K.'s industry regulator said it was…

forbes.com - Martin Leo Rivers - Central Banks Have Killed Off Children's Savings Accounts - Can Bitcoin Resurrect Them?
Central Banks Have Killed Off Children's Savings Accounts - Can Bitcoin Resurrect Them?
Forbes

When I was a teenager, I remember staring in awe at the savings rates advertised in the window of my local bank. “If only I had a million pounds, I could live off the interest for life,” I often thought to myself. And I wasn't wrong.

rte.ie - RTÉ News - Permanent TSB in potential deal for Ulster Bank loans
Permanent TSB in potential deal for Ulster Bank loans
RTÉ

Shares in Permanent TSB soared over 15% today after it announced a potential deal worth about €7.6 billion to buy some elements of Ulster Bank's business here. The lender said it has entered into a non-binding Memorandum of Understanding…

adage.com - Bank of America taps Epsilon for ad targeting in post-cookie world
Bank of America taps Epsilon for ad targeting in post-cookie world
Ad Age

Bank of America is working with Publicis Groupe's Epsilon to help serve targeted ads to financial customers in a post-cookie world. With first party data becoming scarcer and more valuable due to privacy crackdowns by the likes of Google and Apple…

usnews.com - Silicon Valley Bank to Hire 150 in Europe Amid Tech Deal Boom | Investing News | US News
Silicon Valley Bank to Hire 150 in Europe Amid Tech Deal Boom | Investing News | US News
U.S. News & World Report

LONDON (Reuters) - Silicon Valley Bank aims to hire around 150 staff in Europe this year, mainly in Britain, as it looks to capitalise on frenzied demand for investment in tech and innovation companies, its head for the region told Reuters. The…

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