Banking

Most financial institutions use outdated legacy systems that are siloed by factors such as lines of business and geography, writes Suresh Ramamurthi, chairman and CTO of CBW Bank.

Banks could help narrow the financing gap for U.N. development goals to be met, but changes in Basel and loan guarantee standards are necessary.

In the digital age, a lot has changed about how businesses operate — and a lot of new data is being generated in the process. American Express is tapping into this data for instant credit decisions.

John Flint, HSBC's current retail chief, will take the helm next February; asset manager BlackRock has added $1 trillion of assets in the past year, or more than $1.5 billion every business day.

Overall net income rose 8% to $4.13 billion as cost control helped overcome shortcomings in global consumer banking profits and bond trading revenue.

An increase in corporate loans, the highest lending margin in four and a half years and record profit in asset management helped the lender top analysts’ estimates and offset trading and other challenges.

The information you need to start your day, from PaymentsSource and around the Web. Today: Amazon updates Echo; ZenCash expands to include billing; SecureKey adds a large bank to Canada's national ID project; Cash declines in Sweden.

As conditions worsened on Wednesday, bankers said that their employees’ safety is their top priority.

The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.

Efforts to make it easier for smaller businesses to apply for SBA loans, coupled by concerted expansion efforts among key regional and community banks, contributed to the third consecutive record for 7(a) lending.

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.

Nearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans, according to new data from the U.S. Department of Education.

The Tupelo, Miss., company has recouped its “satisfactory” community reinvestment rating, removing a regulatory obstacle to two pending acquisitions.

The Federal Deposit Insurance Corp.'s No. 2 said deposit insurance helps prevent bank runs, but can also make banks more prone to taking on risk that can cost the public.

Equifax Inc.’s political troubles expanded, as a top U.K. Parliament lawmaker demanded information from the company and its British regulator about the hack that exposed sensitive data for nearly 700,000 U.K. consumers.

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.

The tech giant won praise from consumer groups for its decision to ban ads for high-cost consumer loans. But the policy contains a big loophole, and advertisers have found multiple ways to exploit it.

A 38% increase in new loan originations led to another quarter of record earnings.

Hackers accessed driver’s license data on nearly 11 million people, the company says; the rally in bank shares may sputter out if third-quarter earnings reports disappoint.

The information you need to start your day, from PaymentsSource and around the Web. Today: Trade group opposed Square's ICL bid; Amazon considers home access tech; Mastercard opens lab in India; Monzo pushes new account.