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Apple extends their FinTech ecosystem with 4.15% APR Savings account

Banking globalbanking -

Apple's FinTech domination plans are continuing! It's incredibly exciting to watch how they are positioning their selection of products and services, especially when it comes to what language they use. For example, the press release makes use of the phrase 'savings account'. That's perhaps some of the closest 'bank' language we've seen from Apple, ever. Oh, of course they've...

In our newly launched Digital Transformer 2023 section, we are profiling the experts shaping the GCC banking industry this year. Read more.

Latest News

SVB’s primary debtor in Canada revealed as Romanow’s tech finance firm

The bankruptcy liquidator in charge of Silicon Valley Bank’s Canadian unit is set to receive offers for its loan book on Monday, and the biggest asset is a loan to e-commerce lender Clear...

Central banker calls for wage restraint in Iceland to slow down inflationary trends

Iceland’s labor market parties must rein in wage growth to help slow interest rate hikes, according to the central banker in charge of western Europe’s most aggressive monetary tightening campaign. “We are a country...

ECB reaches a significant stage of rate tightening, says Makhlouf

The European Central Bank is in the final stretch of its historic cycle of interest-rate increases, according to Governing Council member Gabriel Makhlouf. “Given our current outlook for inflation, we are likely to be close to...

Apple Financing: It’s actually happening

This is an opinion post by our Analyst team. First, let's have a stream of consciousness from the banking market: For years now, every technology presentation to the executive team or board of a...

Bryan Carroll steps down as CEO of Vietnam’s TNEX...

Bryan Carroll today announced that he is stepping down as CEO of Vietnam's TNEX digital bank. He posted the news directly on his LinkedIn feed earlier today and indicated he will resign his position...

The West Coast emerges as a prominent epicenter of bank turmoil in 2023

Banking Pete Sadler -

One half of the country is experiencing the banking turmoil of 2023 quite differently than the other half. Three of the four banks that collapsed so far this year were in one state: California. Two of them were headquartered roughly 45 miles apart in San Francisco and Santa Clara. The other regional banks under the most scrutiny from investors in 2023 are also clustered near the West Coast. Stocks of PacWest (PACW), Western Alliance (WAL), Zions (ZION) and HomeStreet (HMST) – mid-sized lenders based in Beverly Hills, Calif., Phoenix, Salt Lake City and Seattle – are down between 40% and 79% year to date. Read More : The West Coast emerges as...

Events & Conferences Spotlight

Dubai Fintech Summit 2023

http://www.dubaifintechsummit.com The Dubai FinTech Summit 2023 will set a global benchmark for the way enterprises...

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China’s industrial profits suffer an 18% decline in April due to sluggish demand

Markets Pete Sadler -

Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with...

India central bank likely to reduce rates by end of financial year, predicts Kotak Bank treasury chief

The Reserve Bank of India (RBI) may cut interest rates only towards the end of the financial year despite a moderating inflation, Kotak Mahindra Bank's treasury chief said. "Inflation has come down, but core is not coming down that much. Some of it is base...

Markets

Bond traders widen their focus to potential risks beyond the debt ceiling

Pete Sadler -

Former BOE hawks predict UK interest rates to reach the “pain level” of 6%

Hawkish former Bank of England rate-setters warned that interest rates will need to soar as high as 6% to stamp out inflation, a level the central bank has identified as painful for households...

Markets