Financial ServicesRSS

Job cuts loom as HSBC closes 62 UK branches


HSBC plans the closure of 62 of its UK branches in 2017, with the loss of up to 180 jobs. This will bring the number of branches it has in the country to 625 by the end of 2017. It says it has no intention to close any further branches in 2017 and this marks […]

UK Post Office becomes a bunch of bankers

post office 2

The UK’s Post Office has entered the banking market as a new industry-wide agreement with the nation’s banks comes into effect. From today (24 January), 99% of UK personal bank customers and over 75% of business customers can do their day-to-day banking at the Post Office – described as the “biggest expansion in face-to-face banking […]

Equifax Canada unveils new financial data platform

Equifax Canada

Equifax Canada has launched the first phase of a new multi-million dollar technology platform to provide financial data. The company organises, assimilates and analyses data on more than 820 million consumers and more than 91 million businesses across the globe. The first phase of its new platform is designed to provide predictive insights about consumer […]

Ohpen sesame says UK’s Financial Conduct Authority


Amsterdam-based banking software vendor Ohpen has gained approval from the UK’s Financial Conduct Authority (FCA) to carry out its regulated activities under its new British company, Ohpen Operations UK. Angelique Schouten, Ohpen UK’s CEO, says the approval means it can “deliver an alternative for financial services companies to digitalise and outsource their entire investments and […]

Fifth Third Bank teams with QED Investors for fintech innovation

Fifth Third

Fifth Third Bank is partnering with venture capital (VC) firm QED Investors to bring new products and services to their banking customers. The VC firm will advise the Ohio-based bank and support its NorthStar strategy to “enhance offerings through technology”. Tim Spence, executive vice-president and chief strategy officer for Fifth Third Bank says the partnership […]

DeVere Group launches private bank


Financial adviser firm DeVere Group has unveiled its own private bank, DeVere Group Bank St Lucia. The company says the launch “has been facilitated” by the acquisition of St Lucia-based Arton Bank for an undisclosed sum. Arton Bank was set up and licensed in 2014 under the Offshore Banking Act 1996. Founder and CEO of […]

Transatlantic trio gets tough on financial crime

US Europe

A three-way alliance of legal firms is helping Europeans call out financial wrongdoing and benefit from US whistleblower laws. New York-based Meissner & Associates is collaborating with Stuttgart/Berlin-based Naegele and London-based Brahams Dutt Badrick French (BDBF) to create the new transatlantic initiative, the “first of its kind”. The plan is to help employees, suppliers and […]

Deloitte opens blockchain lab in New York


Deloitte has launched a blockchain lab in New York’s Wall Street. 2017 could be its “make-or-break year” for blockchain, says Eric Piscini, principal with Deloitte Consulting. Joe Guastella, another principal with Deloitte Consulting, says its “ecosystem for education, ideation [we missed you jargon], strategy, application prototyping and development is there to support Deloitte’s clients and […]

BMW Financial Services in major tech overhaul with Sword Apak

BMW Group Financial Services

BMW Group Financial Services (BMW FS) has selected UK-based fintech vendor Sword Apak to support the planned harmonisation of its European core operating systems. Called the Ideal Programme (integrated delivery of a European application landscape), it was launched in November 2016. It is designed to integrate three key modules: commercial finance, dealer front-end and the […]

US Democratic senators oppose OCC fintech proposal

Banks in the US continue to face many risks, the OCC finds

A skirmish over the future of US fintech is underway in the new US Senate, with two Democratic senators this week saying a new federal charter governing the industry “could weaken consumer protections, limit competition and threaten financial stability”, reports Paybefore. Late last year, the Office of the Comptroller of the Currency (OCC) released a […]