In a move that seems quite surprising, Citibank Australia has stopped taking notes and coins at their branches; data shows that less than 4% of their customers used cash at the branches and so to keep up with digital headwinds the bank has decided to go cashless; there has been a trend in Sweden and Iceland of cashless banks, but there has not been any worldwide trend in that direction; the bank will still keep ATMs going and teller services will also remain intact. Source
PeerIQ released their Q4 2018 Lending Earnings Insights Report which points to a number of themes showing the economy is strong...
Not surprisingly, Citibank saw an increase of digital banking channels through Q1 2020 and has now made a key digital...
Funding Circle’s SME Income Fund has closed a funding deal with Citibank; according to the AltFi, “Under the terms of the agreement Citibank London will provide £50m of funding into the transaction, by entering into a senior, floating rate loan. The fund will contribute a portfolio of existing UK small business loans at par, and in return shall receive ?the approximately £50m of cash to be deployed in accordance with its investment policy, and junior notes.” Source
Citi is the world’s biggest credit card issuer and boasts over 28 million clients; while the card business is strong,...
Rapyd, a global Fintech as a Service company, has entered the Indian market with partners including Paytm, PhonePe, PayU, Citibank,...