Bank Delovaya Rossiya began implementing the IBS-9O international banking system from Londonbased Management Technologies Inc. in its Moscow head office. The system will automate both wholesale and retail banking operations, replacing several systems developed in-house. It will run alongside the bank's Swift payment messaging interface on a Digital VAX computer, with an upgrade to higher performance hardware likely in the future. The treasury subsystem will be the first component to go live -- at the end of the year -- with the remaining modules following early in 1995, Management Technologies officials said. The treasury component supports a range of activities, including trade finance, corporate banking, private and retail banking, foreign exchange, and the trading of money market and fixedinterest securities.
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In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
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Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
9h ago -
Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
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Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
May 9 -
The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.
May 9 -
Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.
May 9