HSBC has recently decided to close down its international payments app, Zing, which was launched just a year ago. This decision is part of a broader strategy to simplify operations and focus on areas where the bank holds a clear competitive advantage. Unveiled in January 2024, Zing was introduced
The banking sector is poised for a significant uptick in mergers and acquisitions (M&A) in 2025, driven by anticipated regulatory relaxations and a stabilizing national economy. This shift is expected to create a more conducive environment for banks to engage in strategic mergers, enhancing their
The backdrop of television shows and movies often paints a glamorous picture of bank heists, but the real-life ramifications are far from depicted on-screen excitement. The Federal Bureau of Investigation's (FBI) Chicago field office recently shared data with WGN News, indicating a significant
Open banking is revolutionizing the financial industry by providing consumers with unprecedented control over their personal financial data. Under Section 1033 of the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) has laid the groundwork for this initiative, aiming to boost
In a remarkable financial turnaround, Japan's SoftBank Group reported a net profit of 1.18 trillion yen, or approximately $7.7 billion, for the quarter ending in September, significantly exceeding analysts' expectations of 287 billion yen ($1.87 billion). The company managed to shift from a
In a strategic move aimed at transforming how modern consumers interact with financial services, Block has announced the integration of its Afterpay buy now, pay later (BNPL) service with its popular Cash App debit card. With the imminent integration, this substantial change is set to impact
