Morning Coffee: Hedge fund superstar does due diligence on his new boss. People are getting protective of their clients
Finance: The Importance of People in the Industry It might be a cliché, but it’s worth repeating because it’s very true – finance is a people business. For every hedge fund, bank, or brokerage that collapses because of operational failures or financial losses, there are a dozen that fall apart simply because relationships between key […]
Fiserv taps Cognition AI for banking systems
Fiserv Incorporates AI Coding System into Its Core Banking Technology US-based fintech firm Fiserv has entered a strategic partnership with Cognition, paving the way for the incorporation of Devin, an AI coding system, into its core banking technology. This move is part of Fiserv’s broader plan to implement AI across technology operations and product development, […]
GreenSky to pay $10M to state AGs
GreenSky Agrees to $10 Million Settlement Point-of-sale home improvement financing firm GreenSky has agreed to pay $10 million to settle claims that it deceived and exploited senior citizens and disabled individuals, according to Texas Attorney General Ken Paxton. The settlement comes after several attorneys general took action against the Atlanta-based company following complaints of unauthorized […]
Yorkshire and Leeds building societies weigh bids for Atom Bank – report
Yorkshire and Leeds Building Societies in Talks to Purchase Atom Bank In a move that signifies the growing ambitions of UK’s building societies to scale up and compete with larger banks, Yorkshire Building Society and Leeds Building Society are reportedly considering the purchase of online lender, Atom Bank. The information, as reported by the Financial […]
I left a top US bank for a European rival and it was pitiful
I Left a Top US Bank for a European Rival and It Was Pitiful I spent most of my career working for a US investment bank, one that many aspire to work for. After leading a major team for two decades, I received a call from a headhunter offering me a bigger role at a […]
Planning for the unexpected: Morningstar research offers retirement prep advice
Advisors can get some hard data on how expenses change over a person’s lifetime, help plan their clients’ retirement income and ease their fears, based on a new research paper. Processing Content The amount of non-discretionary, or necessary, expenses, drop in retirement but grow as a portion of income, from about 40% to about 60%, […]
Fintechs tell Data Standards Body ‘clarity and consistency are paramount’
Regulatory Data Standards: Fintechs Advocate for Clarity and Consistency In the realm of open banking, clear, consistent, and comprehensible regulatory data standards are foundational. The Data Standards Body (DSB), which is responsible for developing these pivotal standards, has recently been the focus of public consultation. This process has seen fintechs taking the lead, voicing their […]
Fintechs hit $504 billion in global revenue for 2025
Global Fintech Revenue Surpasses Half a Trillion Dollars in 2025 As the global financial landscape continues to evolve, fintech companies are emerging as significant contributors to the sector’s total revenue. Recent data indicates that the global fintech revenues have soared past half a trillion dollars, making up approximately 4% of the total global financial services […]
Turnaround specialist appointed community bank CEO for a 6th time
Thomas O’Brien: A Veteran Turnaround Specialist at the Helm of BCB Bancorp Thomas O’Brien, a highly regarded specialist in revamping struggling banks, has accepted the position of President and CEO at BCB Bancorp, based in Bayonne, New Jersey. This marks O’Brien’s sixth tenure as the CEO of a bank, a testament to his extensive experience […]
Austria launches initiatives to combat online payment scams
The National Bank of Austria Launches Initiatives to Combat Online Payment Scams Online scams have been a persistent issue globally, prompting the National Bank of Austria (OeNB) to take proactive steps in combating this menace. Recently, the Central Bank announced the commencement of two educational projects designed to enhance the ability of students and senior […]