Financial Services Industry News
A collection of Financial Services latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Microsoft debuts financial services cloud
Amid the relentless challenges of 2020, the wheels of the financial industry kept turning. At the root of it all is the historic acceleration of digital technology in the pandemic. It's what enabled the financial services workforce to keep working…
Jumia narrows losses, as its payment service grows financial results
After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020. Backing that claim, Jumia reported record gross profit and some improvements to its cost structure. The company wrote in its…
Embattled Postmaster Calls Postal Service Financial Outlook Dire
Postmaster General DeJoy appears before House committee Mail service still slow after summer plunge, lawmakers say Photographer: Jim Watson/AFP/Bloomberg Postmaster General Louis DeJoy told lawmakers the U.S. Postal Service faces a…
This Startup Raised $45 Million To Connect Healthcare Data In The Cloud
veryone knows you can't fit a square peg into a round hole, but imagine that's what your plumbing connections actually looked like. That's day-to-day life in the world of healthcare data exchange—pipes of all different shapes and sizes with…
Microsoft unveils three more 'industry clouds' for financial, manufacturing and nonprofit
Microsoft is continuing to roll out more vertical cloud packages tailored for specific vertical industries. On February 24, the company announced three more of these 'industry clouds' for financial services, manufacturing and nonprofi t. These…
Microsoft announces new cloud platforms built for financial services firms, nonprofits and manufacturers
Microsoft CEO Satya Nadella announced on Wednesday three new industry clouds to bring a modern and comprehensive tech stack to customers in financial services, nonprofits and manufacturing. These new services will help businesses make faster and…
Raising The Bar with Raise Financial Services
For most of us, 2020 was an eventful year for everyone in a way. Many memories from the previous year will continue to be with us for the rest of our lives. Personally it wasn't a great year for me, many unexpected setbacks, discoveries…
UK will resist EU pressure on banks over clearing - BoE's Bailey
LONDONLONDON (Reuters) - Britain will resist 'very firmly' any European Union attempts to arm-twist banks into shifting trillions of euros in derivatives clearing from Britain to the bloc after Brexit, Bank of England Governor Andrew Bailey said on…
Microsoft launches three new cloud offerings for Financial Services, Manufacturing, and Nonprofits
Email Twitter: @LaurentGiret 16 seconds ago in Microsoft is launching today new industry-specific cloud offerings for Financial Services, Manufacturing, and Nonprofits. These industry clouds will bundle together APIs and industry-specific…
HSBC to exit its US retail banking business in search of increased profitability
The bank is scrapping its US retail plan and making a strategic pivot toward Asia, per The Wall Street Journal. Insider Intelligence HSBC's exit from US retail banking places Hong Kong and China center stage. This is a move that points to a more…
Embattled postmaster refers to Postal Service financial outlook as 'dire'
WASHINGTON — Postmaster General Louis DeJoy told lawmakers the U.S. Postal Service faces a “dire” financial outlook, as lawmakers considered reducing retiree health care costs to bolster the service plagued by slow delivery.
Fed Investigating Outage in Interbank Payment System
Photographer: Samuel Corum/Bloomberg The Federal Reserve's system for interbank payments went down Wednesday afternoon, according to a website for payment services operated by the U.S. central bank. “A Federal Reserve operational error…
Kabbage Co-Founder Muses On Alt Lending, Fintech Trends, And More
Last year was a tumultuous one for many individuals and small businesses, but fintechs have helped expand access to financial services during the pandemic. A recent study, which garnered data from 1,385 fintechs in 169 jurisdictions from mid-June…
RecargaPay closes a $70 million Series C
Image Credits: Jose Luis Pelaez Inc / Getty Images RecargaPay, a Brazil-based fintech that allows users to top off their prepaid cell phones online, announced this morning that they've closed their $70 million Series C. The company, which operates…
Microsoft announces industry clouds for finance, manufacturing, and nonprofits
Microsoft has announced a trio of new industry clouds as the company doubles down on its effort to support companies that require specialized, sector-specific tools. The company debuted Microsoft Cloud for healthcare last May before launching it in…
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