Technology

Banks' big tech spending is testing shareholders' patience

02/05/20

Investors think the billions being shelled out to keep up with the likes of Amazon might be better spent elsewhere.

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Goldman, Amazon may offer loans; banks plan to tighten underwriting

02/04/20

The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime.

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Citigroup CEO says many branch jobs are still safe from machines

01/21/20

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

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BNY Mellon’s shares tumble as revenue growth stalls

01/16/20

Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.

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Morgan Stanley’s profit; China deal raises optimism for U.S. banks

01/16/20

Morgan Stanley’s profits rose 46%; the deal pressures China to open its financial services sector to U.S. firms.

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Will earnings season bring surprises?; Wells Fargo’s tech troubles

01/13/20

Profits at big banks are expected to be up versus a year ago but down from the third quarter; add antiquated systems to the bank’s many problems.

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Citi’s investment bank plans to hire 2,500 coders this year

01/06/20

The institutional clients group will add the jobs in New York, London, Shanghai and several other cities across the globe.

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Is a good year a bad sign for banks?; Checking for post-Libor plans

01/06/20

Some analysts warn the loosening of bank regulations may be hiding risks; watchdogs are demanding proof that financial institutions are ready for 2021.

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Mergers of equals are hard. For small banks, they're even harder.

01/02/20

Steuben Trust received two bites from potential MOE partners, but the New York bank’s lightly traded stock and many other challenges forced a sale to a much larger rival instead.

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Bank of the West nudges customers to be more eco-friendly

12/18/19

The bank is working with a Swedish fintech to offer a tool that lets account holders track how their spending choices might be contributing to climate change. The tool may never be a big moneymaker, but it could help the San Francisco bank attract customers and recruit employees.

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