Fintech firms form association to fight PSD2 corner
A group of European fintech firm have set up a non-profit organisation to fight the corner of third parties on issues related to the second Payment Services Directive (PSD2).
Intesa Sanpaolo signs strategic deal with IBM
Italy’s largest bank, Intesa Sanpaolo, has signed a strategic deal with IBM to modernise its infrastructure.
TransUnion trying to clean up credit washing with new fraud detection solution
TransUnion is trying to help the financial services industry clean up the proliferation of credit washing that’s impacting auto finance and beyond. To combat credit washing — the practice of removing legitimate, accurate and non-obsolete credit data from credit profiles … [Read More]
UK turns to pension funds to unlock £50bn for high-growth firms
The UK government has laid out proposals designed to unlock tens of billions of pounds from pension funds to invest in start-ups and high-growth companies.
Goldman sells mass market wealth management business
Goldman Sachs continues its retreat from the mass-market banking arena, selling off its Personal Financial Management (PFM) unit to Creative Planning.
Central banks adopt LLMs to extract climate risk data from corporate reports
The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.
Worldline sells off Swedish payments platform CoreOrchestration
Struggling French payment firm Worldline is to offload its Swedish payments orchestration business CoreOrchestration to Incore Invest in an all-cash transaction valued at €160m.
Deutsche Bank joins MAS-led asset tokenisation project
Deutsche Bank is the latest bank to join the Monetary Authority of Singapore’s multi-year Project Guardian initiative to explore asset tokenisation applications.
Tricolor’s frantic end was sparked by a phone call from JPMorgan
Daniel Chu was in Italy, a world away from the sweltering Texas car lots he had built his fortune on,…
Wells Fargo Auto originations fall 23%
Wells Fargo Auto’s origination volume dipped during the second quarter as the bank’s auto portfolio shrunk. Auto loan originations came…
Off the Lot: Forecasting performance in 2024
Welcome to 2024 and to my new column in Auto Finance News, which we are calling “Off the Lot” because…
The Children’s ISA migrates 126,000 accounts from Embark to Quai Digital, powered by WealthOS
The Children’s ISA (TCI) has completed the mass migration of 126,000 ISA and Junior ISA accounts from Embark to Quai Digital within seven months.
Honda, Nissan formalize merger talks, aim to combine by 2026
Honda Motor Co. sketched plans for a drawn-out deal that amounts to an acquisition of Nissan Motor Co., as Japan’s…
Dissension arises as Fed keeps rates unchanged again
Committees not coming to a unanimous decision is common. But what happened at the Federal Reserve on Wednesday involving the decision by the Federal Open Market Committee to leave the federal funds rate unchanged hasn’t unfolded in three decades, according … [Read More]
How USAA is investing in tech to speed the loan process
USAA is implementing new technology to speed the loan application and approval process as the lender projects flat auto origination…