FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
Citigroup
Banking veteran Paco Ybarra to depart Citigroup after 36 years
He has served as CEO of Citigroup’s institutional clients group since 2019 having joined the firm in 1987.
Five banks fined €1bn for rigging foreign exchange market
UBS escaped a European Commission penalty after exposing the cartels.
Banks and digital advertising: who’s spending what and where?
Where do major US banks and FIs place their digital adverts and how much they spend on these? We look at the digital marketing habits of Citigroup, Capital One and Chase (data courtesy of Pathmatics).
Citigroup to launch voice recognition tech in Asia
Citigroup is planning to launch voice recognition technology to its retail customers, as part of its drive to digital banking. It says it will be the first bank in Asia to do this and is targeting one million Asian users in a year, according to Anand Selvakesari, Citi’s Asia Pacific head of consumer banking. Singapore […]
Rise of the megabanks
A great visual of how four US-based conglomerates – JPMorgan Chase, Citigroup, Wells Fargo and Bank of America Merrill Lynch (BAML) – have grown to be the megabanks we know today. Source: American Banker
Moral hazard: the ghost of bail-outs past
The bailout of Espirito Santo Bank brings back unwelcome memories of the events of the last financial crisis and raises the spectre of moral hazard returning to the financial services industry both in the UK and abroad. But how far have we really come since those dark days of 2008 and the collapse of Lehman Brothers and how far do we still have to go? A quick look at recent events gives us a good indication.
