Category: Doing Business Overseas

Bank of England’s Clear Failings Liz Truss looking set to be the UK’s next Prime Minister intends to review the Bank inflation target. Not a bad idea if you meant to judge things on results. I still don’t understand why anyone is surprised that when you appoint a serial underperformer they underperform in the next…

Artificial intelligence (AI)-based software can streamline the commercial loan process and remove inconsistencies in the traditional approach many financial institutions use today. Hugh Shannon, head of sales and customer success at commercial lending credit intelligence provider OakNorth, tells Bank Automation News in this episode of “The Buzz” podcast that AI allows the fintech to build…

Cloud computing company Nutanix is seeing a jump in revenue as its clients continue to embrace digital transformation. The San Jose, Calif.-based software provider reported a 37% year-over-year increase in revenue of $1.2 billion for its fiscal fourth quarter that ended July 31. The company credits a customer base that is increasingly leaning into cloud…

New York-based identity decisioning platform Alloy has raised $52 million in funding at a valuation of $1.55 billion. Alloy will use the additional funding to help it respond to global demand in the wake of its recently announced international expansion. Alloy made its Finovate debut at FinDEVr Silicon Valley in 2016. Alloy secured $52 million…

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Here are the most relevant developments in the world of structured reporting we became aware of in the course of last week. 1  Swiss Consultation responses published  In the wake of the conclusion of the public consultation about the proposed Swiss ordinance on climate reporting, the State Secretariat for International Finance has published all 301…

FinTech World Forum 2022 (https://fintechconferences.com) is based in London UK Europe as one of leading fintech events 2022 for global financial services, finance and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech…

With a market cap of $2 billion, Lemonade had traded at about eight times its annual sales. Most traditional insurers, like Allstate and Travelers, trade at around one multiple of the year’s sales. The price-to-sales ratio for Lemonade is seemingly reasonable relative to its growth expectations. Since it went public a couple of years ago,…

BayCoast Bank is collaborating with alternative card provider Corserv on a credit card program to offer ePayables, automated credit-decisioning, sales and servicing portals, transparent reporting and complaint software. The $2.5 billion bank will leverage Corserv’s automated credit-decisioning and underwriting tools — which use data analytics and artificial intelligence (AI) — for new credit applicants and…

The $96.4 million Summit National Bank, located in Hulett, Wyo., is one of four financial institutions (FIs) that recently chose Malauzai’s SmartApps Mobile Banking platform, according to an FI Navigator report provided to Bank Automation News. The other FIs include: $17.4 million Citizens First Credit Union, based in Big Spring, Texas; $47.8 million D.C. Teachers’…