Christian Faes, the CEO and Co-founder of UK property lender LendInvest, discusses tech, investment channels, the UK housing crisis, Brexit,...
CEO Jane Fraser has been trying to simplify the bank, concentrating on wealthy consumers and companies.
Fears of a recession abound, but payment and other financial technology companies that can address pressing business challenges will draw funding, according to venture capital investors.
HSBC has moved 3000 members of its staff into a new building and are viewing this digital group differently than their core suit-and-tie employees; the bank believes separating them out will better help to fuel new innovative ideas; HSBC CEO Stuart Gulliver said, "To survive for 150 years we've had to evolve. Most of the risk we've dealt with is political. Actually what's happening in the digital space is there is a threat, particularly to retail banking... in payments, in wealth management." Source
President Biden's executive order on cryptocurrency assets and a central bank digital currency marks the beginning of the administration's efforts to integrate crypto technology into the financial regulatory apparatus. That process has important implications for banks in the near term and down the road.
Big banks have shown recently that they are not afraid to spend on technology in order to better set themselves...
According to a study by Banking on Climate Chaos, the world’s 60 largest commercial and investment banks lent a total of $3.8 trillion in fossil fuels from 2016 – 2020. JPMorgan Chase headed the charts as the world’s top banker of fossil fuels, lending $317 billion in the five-year period.
Greenland Financial is expected to report a profit after one year of business; the internet finance company is a newly developed business unit of Greenland Group which is known for its focus on real estate; Greenland Financial offers three main services 1) a wealth management platform with various investment products 2) professional asset allocation and wealth management services and 3) a cloud platform for internet technology and data analysis services; contributing to the success of China's real estate conglomerate, Greenland Financial's president, Yang Xiaodong, had the following comments about the company and its future growth: "The company's revenue and profit will double each year over the next two to three years. I am confident about that. And I hope after three years, the company will seek listing on the capital market." Source
Deutsche Bank has hired Elly Hardwick as head of innovation and Philip Milne as chief technology officer for innovation; both will help to improve internal and external communication and integration of new technologies for the bank; Hardwick will lead the bank's innovation activities and manage the Deutsche Bank Labs; Milne will facilitate communication between the Deutsche Bank Labs and the bank's internal technology organization. Source
The events of the past months have dealt a devastating blow to small banks. Upgrade was able to navigate it while working to assist them.