According to the Wall Street Journal Goldman Sachs is going after yet another new line of business: corporate treasury services;...
As more and more fintechs disrupt the traditional banking sector, Citi is looking to embrace the new technological advances to ensure they stay relevant; the bank formed a Citi fintech division in November 2015 and stocked it with former employees of Amazon and PayPal; Citi is looking to launch a new version of their mobile app that will include voice and facial recognition to eliminate password entry; Stephen Bird, Citigroup's CEO of global consumer banking, recently told Fortune magazine, "what happens in an extinction phase is that you either rapidly adapt and new means of competition are created, or you go extinct."; the bank is looking to continue making advancements to keep up with industry tech trends. Source
In this week’s PeerIQ Industry Update they cover the continued slowing of the U.S. economy with payrolls and average hourly...
Michael Corbat, CEO of Citigroup was interviewed by Bloomberg at the World Economic Forum; the bank currently spends $8.5 billion...
Banks and fintech firms are in competition over payments systems and each thinks real-time payments should be run differently; Bank...
Citigroup is committing $50 million to buy PPP loans from minority-owned depository institutional; the loan purchase program is in partnership...
For a long time the big players in trade finance have been HSBC, BNP Paribas and Citigroup; in recent years...
More than $445bn was lost to cyber crime last year, a 30 percent increase from three years earlier; banks have...
Citigroup’s new robo-advisor will be free for customers who have at least $50,000 in deposits or investments; this is the...
JPMorgan Chase plans to block fintechs from screen scraping as they believe the practice is putting the bank at greater...