Banks
Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
Bing Guan | Bloomberg | Getty Images Morgan Stanley is pushing further into its adoption of artificial intelligence with a new assistant that is expected to take over thousands of hours of labor for the bank’s financial advisors. The assistant, called Debrief, keeps detailed logs of advisors’ meetings and automatically creates draft emails and summaries […]
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Australia’s central lender says plan is restrictive, causing homes discomfort
Australia’s central financial institution said on Wednesday that financial plan was restrictive with the present funds price causing economic pain for a lot of homes, but it could not rule out even further tightening if necessary to tame inflation. Pavlo Gonchar | Lightrocket | Getty Photographs Australia’s central bank said on Wednesday that monetary policy was restrictive with the current income rate causing financial pain for […]
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Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
Jane Fraser, CEO of Citigroup, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday, September 22, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of […]
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Nearly $109 million in deposits held for fintech Yotta’s consumers vanished in Synapse collapse, bank suggests
Essential Details Ledgers of the failed fintech middleman Synapse display that approximately all the deposits held for buyers of the banking application Yotta went lacking weeks ago, in accordance to one particular of the creditors concerned. A community of eight banking institutions held $109 million in deposits for Yotta buyers as of April 11, Evolve […]
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Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | Reuters The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed […]
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NatWest swoops on retailer Sainsbury’s banking business
Clients use automated teller equipment (ATM) at a Sainsbury’s grocery store in London, British isles, on Tuesday, Feb. 14, 2023. The Office environment for Nationwide Statistics are because of to launch the most recent British isles CPI Inflation information on Wednesday. Photographer: Jose Sarmento Matos/Bloomberg by means of Getty Illustrations or photos Bloomberg | Bloomberg […]
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Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO
Zilch CEO Phil Belamant. Zilch LONDON — British fintech firm Zilch said Wednesday it’s raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an initial public offering. The company, which offers shoppers […]
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Sen. Warren warns Powell from weakening banking restrictions: ‘Do your job’
Crucial Details Sen. Elizabeth Warren is accusing Fed Chair Jerome Powell of undertaking the economic industry’s bidding in taking into consideration adjustments to Basel III Endgame laws. In a letter very first acquired by CNBC, Warren questioned Powell for a response to experiences that “you are advocating for slashing in 50 percent” the increase in […]
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Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say
Long gone are the days when venture capital was flowing into fintech startups with bold ideas — and little to show in terms of business metrics and fundamentals. Bloomberg | Getty Images AMSTERDAM — The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached […]
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