Banking
Top stories summarized by our editors
5/25/2018

Some people like taking risks, while others are pragmatic and risk-averse, and understanding these and other work styles will help create balanced teams, according to research by Kim Christfort and Suzanne Johnson.

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Fast Company online
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Kim Christfort
5/24/2018

Only 35% of college-educated women report feeling confident they can manage investments in their self-directed retirement accounts, compared with 60% of college-educated men and 41% of men who only hold high-school diplomas, according to a Federal Reserve survey. The difference may be exacerbating the gap in retirement savings between the genders, writes Jordan Yadoo.

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WealthManagement
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Federal Reserve, Jordan Yadoo
5/24/2018

The EU's General Data Protection Regulation is requiring banks to revisit some technology decisions, especially around the use of automation and artificial intelligence. "Companies developing AI technologies will have to consider and embed the data protection issues into the design process," says David Martin, senior legal officer at consumer advocate BEUC.

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AI technologies, EU, David Martin
5/24/2018

A study by the Economist shows that 71% of surveyed bank executives are focusing digital investments on cybersecurity to help prevent fraud. Over half are also investing in mobile banking, and 53% say their biggest future competition will be new players in the payments industry like PayPal and Apple Pay.

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Bank Innovation
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PayPal, Apple
5/24/2018

Deutsche Bank has confirmed it will cut at least 7,000 jobs as it reduces its global workforce from 97,000 to under 90,000 by the end of 2019, including a 25% reduction in its sales and trading headcount. The bank is committed to investment banking and its international presence, said CEO Christian Sewing.

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Deutsche Bank
5/24/2018

The Office of the Comptroller of the Currency on Wednesday announced a new policy that urges banks to offer short-term, small-dollar loans. Banks can bring competition to this large market while offering fair and affordable options to consumers, said Comptroller of the Currency Joseph Otting.

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Currency Joseph Otting
5/24/2018

Mitsubishi UFJ Financial Group, Japan's largest bank, has developed a blockchain payments system with Akamai that can do 1 million transactions a second. The two plan on rolling out the blockchain payment network in 2020.

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Fortune
5/24/2018

Independent Bank Group in Texas has agreed to a $1 billion acquisition of Guaranty Bancorp in Colorado. The purchase helps Independent expand in Colorado, where it has nine branches.

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Independent Bank, Guaranty Bank
5/24/2018

More bank deals might occur because Congress has eased regulation and because leadership is changing at some banks, Paul Davis writes. Three deals exceeding $7 billion total have been announced in the past two weeks.

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Paul Davis, Congress
5/24/2018

Banks' future competition comes from tech firms, not other financial institutions, says Francisco Gonzalez, executive chairman of BBVA. Challenges coming from tech firms include digital currencies and online banking.

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CNBC
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BBVA, Banks, Francisco Gonzalez