Sun Life is putting more AI into advisors’ hands to cut down on admin work.…
GXS Bank has launched the GXS Credit Card, an unlimited cashback product…
Appointments
First Horizon Bank has promoted Catherine Wood to Senior Vice President, Head of Commercial…
Allianz Partners, a world leader in B2B2C insurance and assistance, has appointed Carsten Staat…
Income Insurance Limited has announced the appointment of Lim Sim Seng as Chairman of…
The former Deutsche Bank dealmaker brings over 25 years of experience as Standard Chartered…
Speaking at the Swiss Economic Forum, Ermotti addressed his own tenure as the bank…
Banking
HSBC is selling its A$36 billion ($25.30 billion) Australian home and personal loan book to Blackstone, the largest home loan portfolio sale on record. The deal, announced Friday, is the…
Bank of America has agreed to acquire information security specialist MDSec Consulting Limited, adding technical firepower to its cyber defences. The deal is expected to close in the fourth quarter of 2026, pending regulatory approval. Based in Macclesfield, England, MDSec brings about 65 cybersecurity professionals who handle deeply technical information security consultancy. The deal builds on Bank of America’s footprint in the North of England, where it has more than 1,400 employees in nearby Chester and one of its cyber threat operations centres. “We have long admired the exceptional ability of the MDSec team and are delighted that Bank of America and its clients will now further benefit from their work,” said Kris Fador, Chief Information Security Officer at Bank of America. “We look forward to welcoming the MDSec team to Bank of America as we continue to enhance our leading cybersecurity capabilities in the UK and globally.” “We’re immensely proud of what we’ve built at MDSec and, above all, of the team that made it possible,” said Dominic Chell, Co-Founder of MDSec. “From the outset, our ambition has been to build world-class security capabilities and to push the industry forward. Joining one of the world’s leading financial institutions, one that reflects our culture of innovation and technical excellence, gives us an incredible opportunity to take that ambition to the next level.” Bank of America serves more than 69 million clients through roughly 3,500 retail financial centres, around 15,000 ATMs and some 60 million verified digital users, with operations across the United States, its territories and more than 35 countries and jurisdictions. The Herald View: Banks used to buy cybersecurity as a service. Now they buy the team outright. Bank of America already runs a threat operations centre a short drive from MDSec’s front door, so this is less a bolt-on than a talent lock-in. With elite security engineers scarce and adversaries AI-armed, owning the expertise beats renting…
Revolut has secured a full Australian banking licence, the first global fintech to be granted an unrestricted Authorised Deposit-taking Institution (ADI) licence by the Australian Prudential Regulation Authority (APRA). It…
RBL Bank posted a 27% rise in first-quarter net profit to…
Standard Bank, Africa’s largest lender by assets, processed RMB3.39 billion ($500…
Fulton Financial Corporation (NASDAQ: FULT) has completed the merger of Blue…
ING is acquiring approximately 40% of Spanish wealth manager Singular Bank,…
Citi has hired Rohan Sen from Bank of America to lead its coverage of the technology services sector, the latest move in…
Truist Financial posted higher second-quarter profit as rebounding capital markets lifted investment banking and…
RBL Bank posted a 27% rise in first-quarter net profit to 2.54 billion rupees…
Tether has led a $7 million Series A in Pact Labs, joined by Blockchange…
Partners Group pulled in $16 billion of new client demand in the first half…
Payments & Cards
Emirates NBD is the first bank in the Middle East, North Africa and Türkiye to run real-time, blockchain-based cross-border payments on the Partior network. The October 2024 partnership is now in live production. The launch follows a live USD transaction…
Digital Assets
Fintech
Circle Internet Group, Inc. (NYSE: CRCL) has received approval from the U.S. Office of the…
AI & Technology
Sun Life is putting more AI into advisors’ hands to cut down on admin work. Notes Assistant just won a 2026 CIO Award Canada, and the company’s new advisor concierge has already handled more than 11,000 Client conversations in its…
JPMorgan Chase CEO Jamie Dimon is pressing corporate leaders to join a US-focused group…
Singapore’s second-largest bank plans to spend more than S$1 billion annually on AI, digital…
Deputy Governor Sarah Breeden says existing frameworks were not built for autonomous agents, as…
New Scotia Intelligence features include persistent AI workspaces, content generation tools and collaborative editing, as employee adoption grows quarter on quarter Scotiabank has rolled out new capabilities under Scotia Intelligence, its enterprise AI platform, extending access to a workforce of more than 71,000 employees with the stated aims of improving client experience, speed and risk management. More than 5,500 engineers are now using AI tools to support coding, and the bank reported a 30% quarter-over-quarter increase in employee use of AI to respond to client queries. The new features include Notebooks, a workspace that synthesises files, emails, meeting notes and data into summaries and content drafts; Create, a tool for producing presentations and visual content; and Pages, a collaborative canvas for turning AI outputs into editable shared documents. “We have seen meaningful enterprise-wide adoption of Scotia Intelligence and today’s announcement marks another step forward in how we are deploying AI at scale,” said Phil Thomas, Group Head and Chief Strategy & Operating Officer. The rollout is accompanied by a training programme covering foundational AI literacy through to role-specific applications, supported by workshops, business line champions and mandatory AI risk training. Scotiabank says it was the first Canadian bank to establish a dedicated Data Ethics team and publish a Data Ethics Statement, and reviews AI use cases for fairness, transparency and accountability before launch, with employees required to complete annual attestations. “Integrating AI into daily workflows isn’t just about deploying new technology, it’s about supporting our people as they build new skills and adapt to new ways of working,” said Jenny Poulos, Chief Human Resources…
The Vietnamese tech firm and Singapore lender plan to finalise pilot scope and roadmap within 90 days UOB has signed a memorandum of understanding with Vietnamese technology provider FPT Corporation to modernise how banking services are developed, delivered and scaled across UOB’s core markets, using AI, data analytics, automation, cloud infrastructure and APIs. The agreement also aims to create a platform through which UOB, FPT and broader ecosystem partners can turn innovation priorities into scalable business opportunities, with a focus on supporting cross-border financial services and interconnected financial ecosystems. The two companies said the detailed plan, including pilot scope, implementation roadmap, governance model and expected outcomes, will be finalised within 90…
Insurance
Mergers & Acquisitions
The deal brings a two-million-user youth banking platform into Barclays UK, with US…
Raiffeisen Bank International has now received acceptances covering more than half of Addiko’s…
Commerzbank says no institutional investor has tendered shares into the €40 billion offer;…
Finance Minister Jan Jambon opted for a private sale over an IPO, citing…
The deal gives Scotiabank FDIC deposit insurance to support its Mortgage Capital Markets…
Wealth & Investment
Sun Life is putting more AI into advisors’ hands to cut down on admin work.…
GXS Bank has launched the GXS Credit Card, an unlimited cashback product issued with Visa…
United Overseas Bank has appointed Tan Choon Hin as Head of ASEAN and Greater China,…
INFINIOS, the Bahrain-based digital financial infrastructure company, is live with Mastercard on stablecoin settlement. No…
Mastercard has named Yasemin Bedir President of its Eastern Europe, Middle East and Africa region,…