Bank of America today announced its Consumer Investments business has grown to more than $500 billion in client assets, a more than 10-fold increase since the business started a decade ago. This includes nearly 4 million client accounts with Merrill Edge Self-Directed and Merrill Guided Investing, built on Merrill’s industry-leading technology and investment offerings.
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BofA’s Consumer Investments Surpasses $500 Billion in Assets as Clients Choose High-Tech, High-Touch Approach to Managing Finances
Friday, January 10, 2025 - 15:10
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/news/banking/bofas-consumer-investments-surpasses-500-billion-assets-clients-choose-high-tech-high
Financial IT
CFPB Seeks Input on Digital Payment Privacy and Consumer Protections
Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms. The agency is requesting comment on implementing existing financial privacy law and how to address intrusive data collection and personalized pricing.
Friday, January 10, 2025 - 15:06
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/news/payments/cfpb-seeks-input-digital-payment-privacy-and-consumer-protections
Financial IT
Delivering Future-Proof Payments Modernisation Successfully
For banks, payments modernisation is no longer a nice-to-have that can be kept on the backburner – it is imperative to staying in business. The ability to adapt to changes in how payments are cleared and settled, quickly bring new revenue-generating service offerings to market, reduce unsustainable cost-bases, and, for older banks, continue to understand and maintain legacy systems, is entirely dependent on modernising their payments infrastructure.
Friday, January 10, 2025 - 15:02
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/blog/paymentsmodernisation-futureproofsolutions/delivering-future-proof-payments-modernisation
Financial IT
Fintech Nsave Launches Investment Platform, Offering People From Distressed Economies Protection From Inflation With Compliant and Safe Investments Abroad
nsave, the provider of trusted, compliant accounts abroad to people from countries with high inflation, has today announced the launch of an investment product, enabling people at risk of financial exclusion to protect and grow their wealth.
The company also confirmed an $18mn Series A investment led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation, to accelerate their growth.
Friday, January 10, 2025 - 13:37
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/news/investment/fintech-nsave-launches-investment-platform-offering-people-distressed-economies
Financial IT
Arcapita and DgPays Consortium Completes $385 Million Acquisition of Majority Stake in NEOPAY From Mashreq
Mashreq, one of the MENA region’s leading financial institutions, is pleased to announce the successful completion of the sale of a majority stake in NEOPAY, the UAE’s fast-growing digital payments leader. As previously announced on 13 September 2024, DgPays, a leading financial infrastructure technology provider in the EMEA region and Arcapita Group Holdings Limited ("Arcapita"), a global alternative investment firm, had agreed to acquire the stake.
Friday, January 10, 2025 - 13:18
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/news/investment/arcapita-and-dgpays-consortium-completes-385-million-acquisition-majority-stake
Financial IT
Managing Credit Cards at University
University life is often a time of significant personal growth and exploration, but for many students, it’s also a time of financial strain.
Friday, January 10, 2025 - 13:08
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/news/credit-cards/managing-credit-cards-university
Financial IT
Fintech Innovation in Scotland Delivers Growth With 8% Increase in Employment
The FinTech Scotland Cluster recorded an 8% year-on-year employment growth in 2024 bringing the total number of people working in fintech to over 11,300.
The continued economic contribution by the cluster comes as Fintech Scotland reaches its seventh anniversary since formation.
Friday, January 10, 2025 - 13:01
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/news/financial/fintech-innovation-scotland-delivers-growth-8-increase-employment
Financial IT
BNP Paribas Signs a Partnership With Oracle to Further Develop Its Cloud Strategy
For over 20 years, BNP Paribas has deployed Oracle technology to manage part of its on-premises databases. BNP Paribas has today announced that it will now adopt Oracle Exadata Cloud@Customer to further improve database management. This choice aligns with the bank's ambition to continually strengthen its services while ensuring the security of its customers' data in the aim of providing an even smoother and more personalized experience.
Friday, January 10, 2025 - 12:52
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/news/cloud/bnp-paribas-signs-partnership-oracle-further-develop-its-cloud-strategy
Financial IT
UniCredit to Internalise Back-Office Activities for Securities Services, Creating More Than 140 New Jobs in Germany
UniCredit has today announced plans to bring its back-office activities for securities services across Italy and Germany in house, standardising its set-up and suppliers in a move that is set to create over 200 new jobs.
Friday, January 10, 2025 - 11:27
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/news/infrastructure/unicredit-internalise-back-office-activities-securities-services-creating-more
Financial IT
Spring Financial Launches Canada’s First AI Financial Assistance App: Bloom
Today, Spring Financial, a Canadian financial technology company simplifying the lending process for everyday Canadians, announces the launch of
Friday, January 10, 2025 - 11:24
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/news/lending/spring-financial-launches-canadas-first-ai-financial-assistance-app-bloom
Financial IT
