Financial Services Industry
Financial Services Industry| News, how-tos, features, reviews, and videos
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Tech industry dodges a financial bullet after SVB crash
What might have been the start of a catastrophic bank run after the Silicon Valley Bank failure has been stopped for now. But tech firms and start-ups that had assets at the bank could still feel a squeeze.
Q&A: Fintech expert: digital wallets need this tech 'magic' or they'll fail
Wells Fargo & Co., Bank of America, JPMorgan Chase, and four other financial services firms plan to launch a new digital wallet in 2023. But a long-time fintech expert said there's little chance of success if they don't embrace the...
Morgan Stanley fines some employees $1M for WhatsApp, iMessage use
After being fined more than $200 million last year for similar violations, Morgan Stanley has begun penalizing employees for using personal messaging apps for company business. But at least one expert said banning the tools won't work...
Big banks' proposed digital wallet payment system likely to fail
Bank of America, JPMorgan, Wells Fargo, and other banks are joining forces to create a digital wallet to compete with the likes of Apple Pay and Google Pay. But they have an uphill battle ahead.
As China pushes its digital currency plans, the US falls behind
China's digital yuan has been piloted in 15 provinces and tested across a multinational financial network. Meanwhile, the US is still developing a digital currency, endangering the dollar's place as the world's reserve currency and...
FTX meltdown likely to spur crypto regulations, cool digital currency push
The collapse of the major crypto exchange could be the final straw in an ongoing push to create oversight of cryptocurrencies, how they're stored, and where they're traded. Any government oversight is likely to affect other digital...
Q&A: Chase CIO offers top interview tips for tech job seekers
If you want an edge, first educate yourself on the industry and organization in which you're seeking employment, advises Chase CIO Gill Haus — and don't be afraid to be yourself.
Why America’s oldest bank launched a crypto custody service
BNY Mellon has launched a live service that allows institutional clients to store and exchange bitcoin and ether, giving the highly volatile cryptocurrencies credence on the world market.
Would a US digital dollar let the government track you?
As lawmakers push to create a digital form of the US dollar, some are concerned it could give the federal government access to what consumers and businesses do through electronic transactions.
16 Wall Street firms fined $1.8B for using private text apps, lying about it
The banks and brokerages were fined because employees were messaging and texting with clients without recording the communications, as required. And some of the firms' execs lied about it and deleted messages.
Planned ‘fixes’ for credit-card interchange fees will actually make fraud easier
The US Federal Reserve and the US Senate are both looking to lessen restrictions on retailers — ostensibly to rein in card fees. What they actually are doing is inviting more fraud.
Companies move to drop college degree requirements for new hires, focus on skills
A new study shows employers are ending college degree requirements for many jobs openings, focusing instead on skills, experience, and personality traits. The sea change opens up tech jobs to a more diverse pool of candidates.
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Banks face a WhatsApp reckoning as regulators clamp down on messaging apps
Financial institutions are being hit with millions of dollars in fines from regulators concerned about the use of messaging apps. That's forcing the financial firms to shift gears to deal with the issue.
Q&A: Chase CIO details what entry-level job-seekers need to succeed in Fintech
IT jobs at financial services and tech companies are among the most highly sought-after by new college graduates with STEM degrees. Chase CIO Gill Haus said he hires from a variety of educational backgrounds — traditional...
Will new EU crypto rules change how ransomware is played?
The European Union is cracking down on cryptocurrencies. That could have massive implications for enterprise IT.
Q&A: FNA's Carlos León on how digital money can be more efficient and safe
As multiple nations push ahead on the idea of central bank digital currencies (CBDCs), UK-based FNA has been helping them do so. Carlos León, FNA's director of Financial Market Infrastructures and Digital Currencies Solutions, talked...
Are banks quietly refusing reimbursements to fraud victims?
There are disturbing reports that some major financial institutions are no longer crediting back all fraudulent transactions, even when the victim has filed a police report. This move by these financial institutions will soon come...
The dangers of embracing cryptocurrency
Do not invest company assets in crypto, hoping for a big score to keep the lights on in tough times. It's a scam.
How tech companies are responding to the talent gap
Tech companies face a dearth of workforce talent, which has led many organizations to hire through non-traditional approaches that include coding bootcamps, low-code training, and focusing on population areas outside the norm.
