Banking

Bank branches will survive the blockchain challenge

Most observers of the banking industry believe that banks do not need branches. Most bankers say that banks need branches. Who’s right? I would bet on the banker, as they’re in the business. However, it is clear that we don’t need as many branches. Read more at The future of finance is all about the…

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Banks are embracing cloud technology

Singaporean bank DBS has signed an agreement with Amazon Web Services (AWS) to leverage its cloud technology. DBS plans to create a hybrid cloud environment that it will use alongside its existing data centers. DBS has said that using cloud will help it better meet customer needs and speed up the pace of innovation. It…

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Citigroup loses 69m customers

How does a company lose 69 million customers? Just ask Citigroup Inc. Once upon a time, about a decade ago, the New York-based bank had a global retail empire stretching from Tokyo to Tegucigalpa. It offered consumer banking in 50 countries, covering half the planet’s land mass, and served 268 million people. Read more at…

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Alipay hit $100b in less than a year with zero branches

It has been more than a year since the man who runs America’s biggest bank had warned that Silicon Valley was coming to eat Wall Street’s lunch. “Silicon Valley is coming. There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking,” JPMorgan CEO Jamie Dimon had…

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Bank of Facebook

Digital banking start-ups, the shiny new thing to keep sluggish and problem-laden incumbents on their toes, have yet to make a big noise in European finance. They’re too small to threaten existing players’ huge balance sheets, risk-averse customers and high regulatory barriers to entry. Read more at Counting Down to the Bank of Facebook

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