Banking & Finance

The investor appetite for bank-issued debt is experiencing a resurgence, coinciding with an impending rise in interest rates on an estimated $120 billion worth of preferred securities. Banks have been leveraging these risky instruments, which resemble stocks, to bolster their regulatory capital...

Artificial Intelligence (AI) has become an increasingly prevalent technology in the finance industry, offering a wide range of benefits to both businesses and customers. One of the most noticeable applications of AI is in the form of AI chatbots, which are transforming customer service by efficiently handling routine queries and freeing up human representatives for more complex issues...

In a recent speech at the National Bureau of Economic Research Summer Institute, Cleveland Federal Reserve President Loretta Mester discussed the implementation of the FedNow Service, the U.S. central bank's real-time, all-hours payment system, and how it aims to ensure financial stability under potential bank stress. While acknowledging concerns that the system could exacerbate bank runs due to quick outflows, Mester outlined various measures and tools that can be employed to mitigate such risks...

The financial landscape is rapidly evolving and traditional banks are facing stiff competition from fintech companies and digital banks. A recent report by Cornerstone Advisors highlights the significant market share gained by digital banks and fintechs in the checking account space...

Recent data from the CFA Institute – a global, not-for-profit professional organization that has been providing investment professionals with finance education since 1945 – reveals a notable shift in the career preferences of Generation Z (Gen Z) individuals. Contrary to popular assumptions, Gen Z is increasingly gravitating towards the finance industry as their preferred choice of employment, surpassing the allure of the tech and healthcare sectors...

The rise of open banking has revolutionized financial services, providing customers with enhanced money management tools and convenient banking options. However, open finance, the next phase of this evolution, promises to unlock even greater potential by allowing customers to securely share their financial information with trusted third-party providers (TPPs) or financial institutions...

The banking and financial sectors, known for their stringent regulations, are increasingly adopting generative AI technology. Major players such as Morgan Stanley, JPMorgan Chase, and Goldman Sachs are actively exploring the potential of this technology to enhance their operations and improve data management...

In a strategic move to tap into the burgeoning technology and life sciences sectors, HSBC has launched its new division, HSBC Innovation Banking, following its acquisition of SVB UK earlier this year. The rebranding and expansion aim to cater to the needs of startups, investors, and IT companies, bolstering the UK economy and opening doors to global opportunities...

In a move aimed at strengthening the resilience of the financial system, US regulators are set to tighten rules for large banks, potentially resulting in a 20% increase in their capital requirements. The decision comes in the wake of several midsize bank failures that have raised concerns about the stability of the banking sector...

Nymbus, a prominent provider of financial technology solutions based in the United States, has recently announced a significant milestone in its growth journey. The company has successfully raised an impressive $70 million in a Series D fundraising round, with Insight Partners leading the investment effort...