HSBC pledges to retain branch numbers
HSBC has pledged not to close any more branches until at least 2026 amid politcal and regulatory pressure to maintain access to cash on UK high streets.
DBS, Franklin Templeton and Ripple to merge tokenized collateral with stablecoins
DBS, Franklin Templeton and Ripple have signed a Memorandum of Understanding to establish repo markets powered by tokenized collateral and stablecoins.
Standard Chartered links interest rates and fees to clients’ ESG performance
Standard Chartered has launched a new ESG-linked Cash Account for corporate banking clients that rewards them for meeting material environmental, social and governance related targets.
CarMax Auto Finance originations drop 9%
CarMax Auto Finance’s originations fell in the company’s fiscal third quarter amid rising inventory prices and slowing demand from some customer segments. CarMax Auto Finance (CAF)’s originations decreased 9.3% year over year to $1.8 billion in…
3 questions about bankruptcy & repossessions with Weltman, Weinberg & Reis
Shareholder Milos Gvozdenovic and attorney Garry Masterson of Weltman, Weinberg & Reis Co. recently addressed some of the most common questions finance companies have about bankruptcy and vehicle repossession. Gvozdenovic and Masterson began by touching on the question that might … [Read More]
Metaverse to place new demands on payment services – BIS
The metaverse could place new demands on payment services that may be better met by central bank digital currencies and retail faster payment systems than by crypto, according to a Bank for International Settlements report.
AFME urges faster adoption of cloud computing in capital markets
The Association for Financial Markets in Europe (AFME) has set out 14 recommendations to help realise the full potential of public cloud computing across the capital markets industry, as issues around legacy technology, security and regulatory concerns and standardisation slow uptake.
Economic conditions, energy, cost of living rank highly in ethical risk factors for UK businesses
What is ethical risk? Ethical risk consists of the risks that could impede an organisation’s ability to live up to its ethical values and standards which impact consumer trust, reputation, and financial performance.
Big Wheels: Used-vehicle values dip 4% year over year
Used-vehicle values declined year over year in August but ticked up on a month-over-month basis. The Exponential Used Vehicle Index…
UK Post Office axes MoneyGram services in wake of cyber attack
The UK’s Post Office is no longer offering MoneyGram services in the wake of a serious cyber security incident at the American money transfer giant.
BaFin fines N26 €9.2m over late money laundering reports
German regulator BaFin has fined N26 €9.2 million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on.
Betterment acquires rival WealthSimple’s US business
Digital wealth platform Betterment has acquired the US book of rival Canadian robo advisor WealthSimple.
CPS & UACC enhance financial flexibility
Consumer Portfolio Services (CPS) and United Auto Credit Corp. (UACC) each made moves to shore up their flexibility to book more paper. Beginning with CPS, the company announced that it renewed its two-year revolving credit agreement with Citibank, N.A., and … [Read More]
Automakers eye EV CPO programs
As EVs make up a larger share of new-vehicle sales, leading to more in the used-car market, automakers are considering…
Zopa raises £68 million in equity funding
The funding will support growth ahead of the launch of Zopa’s flagship current account and GenAI proposition in 2025.