Category: Finance

The banking sector is under pressure from regulators and lawmakers who are concerned about the risks and impacts of the industry’s practices on the economy, consumers, and the environment. In recent months, several initiatives have been launched or proposed to address some of the most pressing issues facing banks, such as climate change, financial inclusion, consumer protection, and cybersecurity. Here are some of the main challenges and solutions that banks…

Banks Fear Losing Business to CBDC The digital ruble, a central bank digital currency (CBDC) that is being developed by the Bank of Russia, has faced resistance from some of the country’s commercial banks, who fear losing their business and customers to the new digital currency. According to a report by Comnews, even the banks that are participating in the pilot project of the digital ruble are looking for ways…

The latest financial statements of commercial banks in Vietnam have revealed the top 10 banks in terms of the current account savings account (CASA) ratio as of September 30, 2023. The CASA ratio is an indicator of the proportion of low-cost deposits in a bank’s total deposits, which affects the bank’s net interest margin and profitability. MB maintains the top spot despite decline MB continued to lead the banks by…

What is PPI and why is it controversial? Payment Protection Insurance (PPI) is a type of insurance that covers the repayments of loans, mortgages, credit cards, or other debts in case the borrower becomes unable to pay due to illness, unemployment, or death. However, PPI has been widely mis-sold by banks and other financial institutions to millions of customers who did not need it, want it, or even know they…

Barclays, one of the UK’s largest banks, has announced that it will no longer offer personal current or savings accounts to customers who have an address registered with them outside of the UK. This means that expats who live abroad and still have financial ties to the UK will have to find alternative banking solutions or risk losing access to their money. Why is Barclays closing expat accounts? Barclays told…

What is Open Banking and Finance? Open banking and finance is a concept that allows customers to access and share their financial data with third-party providers, such as fintechs, banks, and other institutions. This enables customers to have more choice, convenience, and control over their financial services, such as payments, loans, savings, investments, and insurance. Open banking and finance also fosters innovation and competition in the financial sector, leading to…

IndusInd Bank, one of the leading private sector banks in India, has launched a new mobile banking app called ‘INDIE’, which aims to provide a personalised and intelligent digital banking experience to its customers. The app, which was unveiled on October 4, 2023, offers a range of features, including ultra-flexible products, instant line of credit, transparent rewards program, high-interest savings account, fixed deposits, and safety and security features. ‘INDIE’ offers…

What is Yield and how does it work? Airwallex, a Melbourne-based fintech unicorn, has introduced a new product called Yield, which allows businesses to earn returns on their foreign currency balances without opening overseas bank accounts. Yield, which is backed by JP Morgan, offers competitive interest rates for Australian and US dollars, and promises to expand to other currencies and markets in 2024. Yield works by pooling the funds of…

What are neo-banks and why are they popular? Neo-banks are digital-only banks that offer banking services without physical branches or traditional infrastructure. They rely on technology to provide convenience, efficiency, and personalization to their customers. Neo-banks are popular among tech-savvy and young consumers who prefer a seamless and hassle-free banking experience. Neo-banks are also known as challenger banks, as they aim to disrupt the status quo of traditional banks in…