Tag Archives: financial services

Biden takes big step toward government-backed digital currency

A US digital currency could be on the horizon. The Biden administration is supporting the research and development of a “US central bank digital currency,” or CBDC. The move is part of a broad executive order signed by President Joe Biden on Wednesday asking the federal government to explore possible …

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Major regional banks sound alarm for traditional banking system in new ‘Disruption’ book

United Arab Emirates, Dubai: Disturbance, a new book from leading business publisher LID, explores the future of banking in a market where the rules have fundamentally changed. The authors – Ignacio Garcia Alves, Philippe de Backer and Juan Gonzalez – are leading thinkers from one of the world’s leading management …

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Major regional banks issue wake-up call for traditional banking system in new ‘Disruption’ book

Disturbance, a new book from leading business publisher LID, explores the future of banking in a market where the rules have fundamentally changed. The authors – Ignacio Garcia Alves, Philippe de Backer and Juan Gonzalez – are leading thinkers from one of the world’s leading management consultancies, Arthur D. Little, …

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Crypto Owners Tend to Abuse Dangerous Leverage Practices More Often | by RD Rhoads | February 2022

Some images are courtesy of Pexels.com. Others are credited. An interesting study came out at the end of January 2022. This report examined the state of consumer banking and payment practices and how these behaviors may have changed in light of the COVID-19 pandemic. This study was published by Morning …

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Validea John Neff Strategy Daily Upgrade Report – 02/10/2022

JHere are today’s updates for Validea’s low PE investor model based on John Neff’s published strategy. This strategy looks for companies with persistent earnings growth that are trading at a discount to their earnings growth and dividend yield. CURO GROUP HOLDINGS CORP (CURO) is a small-cap value stock in the …

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Jamaican digital currency expected to roll out nationwide in coming months – central bank

Band Kate Chappell KINGSTON, January 31 (Reuters) – Jamaica will roll out its digital currency nationwide in the first quarter of this year as part of an effort to reduce transaction costs and provide financial services to citizens who do not use banks, Reuters a central bank official. The Bank …

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Blockchain technology for commercial banks

Opportunities Decentralization, distributed accounts, smart contracts and other features of blockchain technology will rebuild the existing centralized financial infrastructure. First, based on the decentralization of blockchain technology, the transaction, clearing and settlement processes in the financial system will directly realize reliable point-to-point exchange of value without a central clearing system, …

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Why commercial banks are a disaster in the making and what you can do about it

Abbott and Costello’s famous skit “Who’s first, what’s second, I don’t know is third” encapsulates the current state of hot potatoes in the bond markets. Of course, we know who is the first. Which? Exactly. The Fed. The Fed holds more Treasuries than any other central bank in the world. …

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Swiss central bank completes CBDC settlement pilot project with commercial banks

The Swiss National Bank (SNB) has successfully completed a pilot test in which it integrated its central bank digital currency (CBDC) wholesale settlement with commercial banks. The bank partnered with the Bank for International Settlements and five commercial banks for the pilot project. As part of the Helvetia project, SNB …

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Cypress Bank & Trust of Florida Selects CSI’s NuPoint Core Banking System

Cypress Bank & Trust, a Florida-based banking startup, selected the core banking platform NuPoint provided by U.S. banking technology provider Computer Services Inc (CSI). A new bank in Florida, Cypress Bank & Trust The bank was originally founded as a corporate trust company in 1996. It became a bank and …

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Banking Regulation in Indonesia: Shareholding, Capitalization and Management of Commercial Banks Based on OJK Regulation No. 12/POJK.03/2021 – Finance and Banking

Indonesia: Banking Regulation in Indonesia: Ownership, Capitalization and Management of Commercial Banks based on OJK Regulation No. 12/POJK.03/2021 December 28, 2021 Nusantara Legal Partnership The most popular: Article Indonesia, December 2021 To print this article, all you need to do is be registered or log in to Mondaq.com. The Indonesian …

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[Korea Contactless Technology] Development of an integrated foreign currency management system combined with an autonomous AI voice recognition robot

LOS ANGELES, CA, December 10, 2021 / 24-7PressRelease / – Contactless and social distancing are terms that have become very familiar in the wake of COVID-19. The latest technologies in areas close to our lives are also emerging in line with this trend. Artificial intelligence, big data, VR (virtual reality) …

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Costa Rica: The involvement of special agents in the development banking system (SBD)

The Development Banking System (SBD) was created in 2008 by Law N ° 8634, reformed in 2014 by Law N ° 9274. As its name suggests, it is a system that brings together organizations of different natures, the aim of which is to finance and promote technically and economically feasible …

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Brankas Goes Into POC To Develop An Open Source Core Banking System For South East Asia, Starting With Singapore

SINGAPORE, December 8, 2021 / PRNewswire / – Brankas, South East Asia‘technology leader Open Finance, today announced that it has received the Monetary Authority of Singapore‘Financial Industry Technology and Innovation (FSTI) Proof of Concept Grant (POC) November 11, 2021. The MAS FSTI POC grant provides financial support for the experimentation, …

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Brankas Goes Into POC To Develop An Open Source Core Banking System For Southeast Asia, Starting With Singapore, Business News

SINGAPORE, December 8, 2021 / PRNewswire / – Brankas, South East Asia‘technology leader Open Finance, today announced that it has received the Monetary Authority of Singapore‘Financial Industry Technology and Innovation (FSTI) Proof of Concept Grant (POC) November 11, 2021. The MAS FSTI POC grant provides financial support for the experimentation, …

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Commercial fraud in commercial banks

Fraud can occur at many stages – from quotation, letter of credit advice, shipment, entry of goods into the importing country, to settlement of final payment. How do you or can you protect the interests of your banks? December 07, 2021, 10:15 a.m. Last modification: December 07, 2021, 10:40 a.m. …

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Update on Brazil’s Open Banking System | Hogan Lovells

[co-author: Ana Laura Pongeluppi] Open Bank in Brazil, the system created by the Central Bank of Brazil for sharing data, information and financial services, is in its fourth phase. Open banking is a system created by the Central Bank of Brazil for the sharing of data, information and financial services …

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UK to consult on possible central bank digital currency

A person walks past the Bank of England in London, Britain on October 31, 2021. REUTERS / Tom Nicholson / File Photo LONDON, Nov. 9 (Reuters) – The Bank of England and the UK Department of Finance announced on Tuesday that they would hold a formal consultation next year on …

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COLUMBIA BANKING SYSTEM, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-Q)

This discussion should be read in conjunction with the unaudited Consolidated Financial Statements of Columbia Banking System, Inc. (referred to in this report as "we", "our", "Columbia" and "the Company") and notes thereto presented elsewhere in this report and with the December 31, 2020 audited Consolidated Financial Statements and its …

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Digital currency is an imperative, not a choice

OPINION: America will have digital dollars accessible through smartphones and computers within a few years. Treasury Secretary Janet Yellen and Federal Reserve Governor Lael Brainard, who could be the next Fed chairman or vice chairman for oversight, have expressed keen interest in a digital currency. The advantages are compelling. Most …

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Critical analysis of the digital payment system in the Nigerian banking system | By Muhammad Adamu

Like most contemporary African states, Nigeria is the result of European imperialism. It was named after the vast Niger River, the dominant physical feature of the country. The name was suggested in the 1890s by British journalist Flora Shaw, who later became the wife of then colonial governor Frederick Lugard. …

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Ejabiah awards central banking system contract to Path Solutions

Ejabiah awards central banking system contract to Path Solutions By Léandra Monteiro The newly established Saudi Arabia finance company, Positive Facilities Co. Ltd. ‘Ejabiah’, signed an agreement with Path solutions for the implementation of its basic interest-free banking platform. Ejabiah will offer a zero rate financing product, similar to Qard …

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Columbia Banking System Announces Regular Cash Dividend Increase of $ 0.30

TACOMA, Wash., Sept. 30, 2021 / PRNewswire / – Columbia Banking System, Inc. (“Colombia“) (NASDAQ: COLB) announced today that a quarterly cash dividend of $ 0.30 per common share will be paid on October 27, 2021 to shareholders of record at the close of business on October 13, 2021. This …

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Tajikistan enters blockchain era with central bank digital currency hosted on Fantom

As blockchain technologies reach widespread adoption, one of the most important forms of validation a project can receive is to be chosen by banks and government agencies to develop dApps and platforms to public use. That is why Fantom’s announcement That it signed a memorandum of understanding with OJSC Orienbank …

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Positive Facilities or Ejabiah in Saudi Arabia Award Basic Banking System Contract to Islamic Software Provider Path Solutions

The newly formed finance company in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), would have entered into an agreement with Path solutions for the introduction of its basic interest-free banking platform. Ejabiah will be to supply a one-time 0% interest financing product, which is somewhat similar to Qard Hassan or …

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Columbia Banking System and Bank of Commerce Holdings Announce Shareholding and Regulation … | New

TACOMA, WA and SACRAMENTO, CALIF., September 22, 2021 (GLOBE NEWSWIRE) – Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”), the holding company of Columbia State Bank and Bank of Commerce Holdings (NASDAQ: BOCH , “Bank of Commerce”), the holding company of Merchants Bank of Commerce, today jointly announced the approval by …

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Columbia Banking System and Bank of Commerce Holdings

TACOMA, WA and SACRAMENTO, CALIF., September 22, 2021 (GLOBE NEWSWIRE) – Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”), the holding company of Columbia State Bank and Bank of Commerce Holdings (NASDAQ: BOCH, “Bank of Commerce”), the holding company of Merchants Bank of Commerce, today jointly announced the approval by Bank …

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e-Naira will strengthen the banking system – CBN

Governor of the CBN, Godwin Emefiele e-Naira will strengthen the banking system – CBN The Central Bank of Nigeria has said that e-Naira will strengthen the banking system and make it easier to comply with existing laws such as combating money laundering, protecting customers from fraud, and ensuring safety and …

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Uganda: Commercial Banks Should Provide Affordable Services – Bahati

The Minister of State for Trade, Industry and Cooperatives, Mr. David Bahati, called on commercial banks in Uganda to provide affordable financial services as a way to boost financial inclusion in the country. According to Bahati, the government expects the financial sector to help educate its clients on how to …

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Technology is changing the banking system – CIBN – Nairametrics

The Chartered Institute of Bankers of Nigeria (CIBN), Lagos State Chapter, said new technological trends will reshape the banking and financial sector. This was revealed by branch president, CIBN, Peter Ashade, at the institute’s annual general meeting. He stressed the need for a strong financial sector to achieve growth and …

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Retail and commercial banks must strengthen digital security to protect their customers

By Gur Geva, Founder and CEO of iiDENTIFii Now more than ever, the need to improve data security within financial services and banking institutions has taken center stage. Customers, both business and personal, need more digital functionality. COVID-19 continues to cement the new normal and bring digital trends such as …

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Big Tech entry threatens the stability of the banking system: RBI

July 05, 2021 The Financial Stability Report (FSR), released by the Reserve Bank of India (RBI), raised concerns about the entry of large tech companies like Amazon and Google into the country’s financial system, claiming that tech companies could undermine the banking system by circumventing financial sector regulations. The RBI …

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Xangle Credibility Ratings Will Be Used By Korean Commercial Banks To Evaluate Cryptocurrency Exchanges

Seoul, Republic of Korea – (Newsfile Corp. – June 8, 2021) – Xangle, the cryptocurrency disclosure platform, offers Xangle Credibility Rating (XCR) which will be used as an official reference document by Korean commercial banks to evaluate cryptocurrency exchanges. New guidelines, known as the “Visual Asset Operation Risk Assessment” recently …

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The outlook for the banking system remains poor

Bank profitability in Bangladesh will remain under pressure due to still high provisioning requirements and weak prospects for a rebound in credit growth due to prolonged economic weakness, Fitch Solutions said in a recently released report. Subsidiary of US credit rating agency Fitch Ratings Inc said weak capital buffers and …

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Backbone of the African banking system: development finance institutions

With patient capital and high risk tolerance, they hold the largest portfolio in Africa, directing significant resources to enable the continent’s banks and private investors to finance business growth. According to our data from Asoko Insight, the 15 European DFIs, the International Finance Corporation (IFC), Canada’s FinDev and the United …

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Cryptocurrency custody gives commercial banks a foothold in the market

Custody isn’t the most compelling corner of the crypto ecosystem, but 21st century solutions for the storage and custody of digital assets are essential if cryptocurrencies are to be adopted at scale. For this reason, the recent announcement by Cowen Inc. that the 103-year-old U.S. investment bank wants to hold …

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How fintech companies struggle with commercial banks in Nigeria

It is well known that FinTech companies use technology to provide customers and clients with easier ways to manage their finances. However, while some might say they do this better than commercial banks, there is no indication that commercial banks are the losers, as commercial banks remain widely used in …

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Boom and Bust Economics and money creation

Something emerges when trying to understand the roots of the economic crash and the ensuing crises that are currently engulfing Europe and the United States. This is how money is created. There are two things related to this. One is what the bank does if you go there and apply …

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