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Monday, October 14, 2019

Tag: financial services

Singapore lender still using faxes seeks virtual bank license

Hong Leong Finance wants to find a partner that will help it apply technology to its lending decisions.

Modi’s bank bailouts may distract focus from growth slump

Analysts predict the mergers may be hurt by a near-term shift in management attention to aligning resources such as personnel, technology and branch networks.

Modi creates banking behemoths to boost India’s flagging economy

Together the merged banks will hold business worth US$781 billion.

Singapore expects new digital banks to start by mid-2021

Among the firms to have reportedly expressed interest in applying for a digital banking licence are Grab, Razer Inc and Malayan Banking Bhd.

A US$1.6 bil horror as Ghana investors can’t get their savings

The crackdown on Ghana’s banking system leaves Ghanaians unable to access their savings.

Standard Chartered faces fine for sanctions breaches

The bank agreed in April to pay US$1.1 billion to US and British authorities for conducting illegal financial transactions.

Mobile phones are replacing bank accounts in Africa

In Kenya, the value of banking transactions through mobile phones amounts to almost half of the gross domestic product.

How a shadow banking crisis sent India’s auto sector into a...

A deepening liquidity crunch among India's shadow banks has been the biggest single factor in an auto sales collapse.

Indian govt seeks to tap foreign lenders for loans to help...

India's 63 million firms in the MSME sector are responsible for more than a quarter of the country's manufacturing and services output.

Lagarde resigns as IMF chief, cites more clarity on ECB post

Christine Lagarde says her resignation would speed up the selection of her successor.

Goldman Sachs profit beats estimates, boosted by strong equities trading

Equities trading revenue increased by 6% from a year ago to US$2 billion, the second-highest in four years.

Citigroup profit beats estimates on gains in consumer lending

Total loans at the third-largest US bank by assets rose 3% to US$689 billion, while deposits increased 5% to US$1.05 trillion, excluding foreign exchange fluctuations.

JPMorgan’s fintech deal shows Asia cash services ambitions

The purchase of Global PayEx reflects the importance of technology investment in achieving the JPMorgan Chase & Co’s ambitions in transaction banking.

One of Asia’s top bank stocks fears risky lending in Thailand

The competition in retail lending is unreasonable and risky with firms offering zero down-payment and low-rate loans.

Grab mulls becoming a bank

A move into banking would represent both a shift for Grab and fresh competition for Singapore’s banking landscape.

World shogi champion prodigy who made hottest Japan IPO

Heroz went on to develop artificial intelligence technologies through the creation of online games such as shogi and then use AI for a range of other services, and its shares are thriving.

Japan’s crypto exchange Coincheck sued after hack

Japanese officials have suggested Coincheck lacked proper security measures, leaving itself vulnerable to theft.

Ride-hailing service Grab seeks RM10 billion to start GrabPay

Two investors, from Japan and China, are reported to have agreed to invest RM8.8 billion to help raise RM10.7 billion to fund Grab’s foray into financial services and expand its ride-hailing service in seven nations.

Man charged with providing financial services to terrorist

He allowed two deposits into his Maybank account, knowing it was for the benefit of a terrorist named Muhammad Fudhail Omar.

Govt appeals ‘acquittal’ of 1MDB critics

Khairuddin and Matthias Chang had been acquitted of charges of sabotaging nation’s banking and financial system.

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