India softens stance on payment regs; a Dutch neobank turns to gen AI; and more.

Banks including Morgan Stanley, HSBC, Goldman Sachs and JPMorgan Chase have announced individual sustainable finance targets for 2030 that range from $750 billion to $2.5 trillion. Yet such statements leave investors with little real insight into the very different ways in which banks are defining what's sustainable.

The British bank, which generates most of its income in Asia, has been deploying more resources in the region to tap into faster-growing markets and saw a "good wealth performance," particularly in Hong Kong, it said.

Britons are pulling more and more cash from bank accounts that don't pay enough interest. It's beginning to hit the U.K.'s biggest lenders where it hurts.

Earlier this year, HSBC agreed to pay tens of millions of dollars in settlements to U.S. regulators over its failure to monitor employees' communications on unauthorized messaging apps, including WhatsApp.

Potential uses for banks include risk analysis, investment portfolio construction and financial crime monitoring.

After First Citizens acquired SVB in March, HSBC poached 42 bankers, misusing SVB's confidential, proprietary and trade secret information to execute their scheme, according to a complaint filed Monday in federal court in Northern California.

Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

Tara Latini, country head of wealth and personal banking for HSBC USA, has been a key decision-maker as the bank has shifted away from the mass-market retail business in the U.S., focusing instead on "globally connected affluent and high-net-worth clients."

Last year, HSBC USA made the decision to exit its U.S. mass market retail banking business. Kavita Mahtani, CFO of the Americas for HSBC, played a crucial role in the process.

The Providence, Rhode Island, bank expects to finalize its purchase of 80 HSBC Bank branches on Friday and complete a systems conversion over the weekend. Its pending deal for Investors Bancorp is on track to go through early next quarter, Chief Financial Officer John Woods said.

While focused on transformation at the bank, Latini has been involved in broader challenges such as promoting women and diversity in Malaysia.

“At HSBC, we’re very committed to the transition to a global net zero economy, not just by playing our part, but by helping to lead it,” she said.

The longtime global head of liquidity and cash management will step down in the fourth quarter, HSBC announced in an internal memo. She will be replaced by Manish Kohli, Citigroup's global head of payments and receivables.

HSBC Holdings’ streamlining drive has reached its top executives, with the bank promising to shake up a “hierarchical culture.”

HSBC Holdings is set to announce the sale of its French retail unit to the private equity firm Cerberus, putting an end to a lengthy sale process that began more than 18 months ago.

Will McLane is expected to help the London-based bank develop strategic initiatives, look for acquisition opportunities and form technology partnerships, a person familiar with the matter said.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.

Acquiring the U.K. bank’s East Coast branches and online-only bank is “great for our balance sheet, great for our physical footprint” and will accelerate the growth of Citizens’ own direct bank, says Chief Executive Bruce Van Saun.

The London-based banking giant is selling 90 of its branches and shuttering about three dozen more. The 20 or so branches it is retaining will be transformed into international wealth centers.