Latest Wholesale banking News: Finextra Research

AI threatens as many as 200,000 jobs in global banks - Bloomberg

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to a market survey conducted by Bloomberg Intelligence.

09 January 2025

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UK fintech market investment declines by 37%

Despite a brutal slowdown, the UK market for fintech investment has retained second place globally behind the US, according to the annual marekt barometer from Innovate Finance.

09 January 2025

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Monzo co-founder prepares for new era of AI-based self-driving startups

Imagine a company with no human staff, founded and run solely by an AI agent. It sounds like the stuff of sci-fi, but this is a vision of the future that former Monzo co-founder Jonas Templestein is now working to bring into existance.

08 January 2025

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US banks leave Net-Zero Banking Alliance

As Donald Trump returns to the White House, JPMorgan Chase has followed a host of other US banks in quitting the Net-Zero Banking Alliance.

08 January 2025

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Shawbrook mulls £2 billion sale or IPO

UK specialist lender Shawbrook is weighing a sale or a London listing at a valuation of £2 billion.

07 January 2025

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Lloyds and Mastercard to lead new SME technology coalition with CFIT

Lloyds Bank and Mastercard are to lead a new coalition formed by the Centre for Finance, Innovation and Technology CFIT), to help develop the technology, policy and regulatory solutions to help the UK’s 5.6 million small businesses raise external finance more easily.

07 January 2025

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OCBC rolls out bespoke tokenised bonds to large corporate clients

OCBC has launched the sale of bespoke tokenised bonds issued in S$1,000 denominations to corporate clients that have net assets exceeding S$10 million.

06 January 2025

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SC Ventures launches invoicing and billing fintech to SMEs in Apac

SC Ventures, the fintech investment and incubation arm of Standard Chartered, has launched Labamu, an invoicing and billing platform for SMEs in Apac.

06 January 2025

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Thomson Reuters buys tax automation provider SafeSend

Thomson Reuters has acquired cloud-native tax automation firm SafeSend for $600 million in cash.

03 January 2025

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Putin orders Russian bank to cooperate with China on AI

Sberbank, Russia’s largest financial institution, has been told to work with China on the development of AI-based services.

02 January 2025

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Finextra's year in review

With 2024 drawing to a close, we take a look back at our most popular news items and community engagement activities over the course of the past year.

23 December 2024

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Crédit Agricole to acquire Santander stake in Caceis

Crédit Agricole SA will continue to strengthen Caceis’ position as one of the major European players in asset servicing, supporting its clients’ business development objectives.

20 December 2024

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