Category: Doing Business Overseas

Goldman Sachs and Apple have launched Apple Card, a savings accounts that allows clients to add funds through a linked bank account or directly from Apple Cash. “Just last week we introduced a new Goldman Sachs savings account for Apple Card that allows users to grow their rewards,” Goldman Sachs Chief Executive David Solomon said…

Goldman Sachs increased its technology and communication spend 16% year over year in the third quarter by investing in digital platforms. The $1.6 trillion bank spent $459 million on technology and communication in Q3, up 3% sequentially and 8% from Q1. Total operating expenses for the quarter dipped 6% YoY to $737 million as the…

Here is our pick of the 3 most important stablecoin stories during the week. China’s CBDC slows, Tether gets T Bills and the USA has an ugly baby! This week we got an update from China on their CBDC, whose uptake has slowed to a crawl, whilst Tether in response to criticism has now put all…

Fintech partnerships allow smaller financial institutions (FIs) to remain competitive in digital banking. Card issuer Corserv recently received its Visa Ready certification and can now assist FIs with their clients’ payment needs, Corserv Chief Executive Jerry Craft tells Bank Automation News in this episode of “The Buzz” podcast. “Businesses on the commercial product are not…

SME financing platform Crowdz has teamed up with London-based GoCardless. The partnership will enable Crowdz to leverage open banking to enhance its ability to provide small businesses with working capital. Headquartered in Campbell, California, and founded in 2015, Crowdz made its Finovate debut at FinovateEurope 2020 in Berlin. Small business financing platform Crowdz has partnered…

Truist reduced expenses while prioritizing long-term investments in talent and technology in the third quarter. The $548 billion bank’s adjusted noninterest expenses dipped 4.8% year over year to $3.6 billion due to merger cost savings, according to the bank’s earnings supplement. However, noninterest expenses increased sequentially by $33 million as the bank continued its investments…

Bank of America increased its technology investments during the third quarter amid increased virtual assistant and digital platform usership. The $3.1 trillion bank in Q3 enhanced its CashPro platform, launched biometric sign-in capabilities and posted a record number of digital logins, which is prompting the hiring of tech-focused talent to help facilitate the rise in…

Imagine Central Park with trees—the walkways remain ever so astir with the scintillating glint of children playing tag, chasing after their hurried youth, as their mothers watch protectively from afar, smiling under the soothing canopy of a magnolia tree. When the sun dips below the skyline, people filter out the buildings, taking solace in the…

Binance is the world’s leading cryptocurrency exchange. It wasn’t hacked. Hackers stole $570M in tokens from Binance, the world’s largest cryptocurrency exchange. The hack targeted the BSC Token Hub, which serves as a link between two Binance systems. Binance reported in a blog post that an exploit affecting a cross-chain bridge between their BNB Beacon…

Lendsmart announced that First Community Bank and Trust will go live with its digital lending platform. Lendsmart won Best of Show at FinovateFall Digital in 2020. More than 100 years old, First Community Bank and Trust serves communities in Illinois and has assets of more than $205 million. One of the brightest stars from FinovateFall…