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Currently Browsing: Results for Tag "banks"

What is the blockchain, and is it really about to change the world?

What is the blockchain, and is it really about to change the world? The blockchain is more properly called a distributed ledger, basically a way of securely and transparently storing information, and performing pre-programmed operations on that information.By far the most famous implementation of a distributed ledger is the transaction and tracking procedures for Bitcoin.

Wells Fargo faces $185 million fine for massive fraud and theft scheme, 5,300 employees fired

Wells Fargo faces $185 million fine for massive fraud and theft scheme, 5,300 employees fired For the past five years, thousands of Wells Fargo employees collectively participated in a scam to systemically defraud and abuse its customers.The problems at Wells Fargo are tied to a company culture that values cross-selling products across the entire range of services that the bank offers.

UK regulator: White male bank culture is ‘difficult to take'

UK regulator: White male bank culture is ‘difficult to take' The financial industry’s “white male” culture isn’t changing quickly enough, according to the U.regulator’s head of supervision, who said the country is unlikely to see a female chief executive officer at a major bank for at least five years.

Apple accuses Australian banks of seeking a free ride in Apple Pay battle

Apple accuses Australian banks of seeking a free ride in Apple Pay battle The battle down under over Apple Pay is raging on and it looks like Apple is ready to fight to the death.” For months, Apple has been arguing against the Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation, and Bendigo and Adelaide Bank over whether or not these large banks can access the near field communication (NFC) antenna.

Australian commission denies banks’ right to negotiate as group with Apple

Australian commission denies banks’ right to negotiate as group with Apple This confirms a ruling handed down by the Australian Competition and Consumer Commission (ACCC) back in November 2016.Although Apple Pay is a service introduced by the Cupertino, California-company, the actual financial transactions themselves stay between the banks, retailers, and customers.

Banks are more worried about Amazon and Facebook than actual fintech startups

Banks are more worried about Amazon and Facebook than actual fintech startups All firms risk becoming dependent on large techs, which necessitates the loss of some control over both costs and data.Major financial firms aren't necessarily happy that they have to rely on a third party for an important component of their business.