Barclays, Morgan Stanley, True Positive and other firms are turning to the technology for simulations and problems that demand large quantities of computing power.
Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.
The Fed chairman goes before Congress this week, where he'll likely face tough questions about the agency’s decision to let two banks slide on their exams late last month.
Rather than ban screen scraping, financial institutions should improve secure account connectivity so that consumers can share data with the apps they want to use.
The struggling Frankfurt-based bank expects to report net income of $468 million when it issues second-quarter results nine days from now, but it's unclear exactly where the earnings beat is coming from and whether the performance is sustainable.
Flagstar Bank raids Regions for its director of retail banking; prosecutors allege bank CEO got access to Trump in exchange for approving Paul Manafort mortgage; a potential turning point in fintech regulation; and more from this week's most-read stories.
The chairman of the Federal Reserve is testifying before Congress this week, where he will likely face tough questions about the agency’s decision to let two banks slide on their exams late last month.
Rather than ban screen scraping, financial institutions should improve secure account connectivity so that consumers can share data with the apps they want to use.
Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great.
New financial products may be exciting for wealth managers — but one group of people isn't benefitting, warns Neesha Hathi, the chief digital officer for Charles Schwab.
There are serious consequences for firms that do not embrace the latest tech tools, says Kelli Keough, the global head of digital wealth management for JPMorgan Chase.
Needs of wealthy clients are "a lot more complex," says Kraleigh Woodford, managing director and head of digital client experience at UBS Wealth Management.
The widely held belief that application programming interfaces are the key to banking’s future rests on the many ways early adopters are experimenting with the technology. But security and privacy concerns are still leading many in the industry to hold back.
Since the financial crisis, compliance costs have risen exponentially. The current level of spend for most financial institutions is not sustainable in today’s low margin environment.
