The banking industry is not only one of the cornerstones of the global economy, it is firmly entrenched in nearly every aspect of our professional and personal lives. The financial transactions that constitute banking have been around for hundreds of years, contributing to the somewhat lackluster reputation of the industry. In recent years, however, deregulation and technological developments have brought notable changes that will help banks meet 21st century challenges in variable economic times. As other types of companies enter the financial services business, banks have also improved and expanded their suite of products and solutions to maintain their market share. The role of government, more prominent in banking than perhaps any other type of business, will continue to be critical in shaping the industry’s future.
Retail Banking Market Set to Reach $3.15 Tillion by 2032 with High Growth in Large Bank Segment
The retail banking market will witness over 5% CAGR between 2023 and 2032, propelled by surging deals and sales, enticing… Read More
Global Banks Are Retreating From Lending to Shipping Companies
With international trade slowing, overcapacity plaguing ocean carriers, and freight rates hitting bottom, many banks are looking at the ocean… Read More
Transforming Trade Finance Transacting
Microsoft Corp. and Bank of America Merrill Lynch announced a collaboration on blockchain technology to fuel transformation of trade finance… Read More
6 TIPS WHEN SETTLING IN FOREIGN CURRENCIES
Rohit Arora, CEO of Biz2Credit in New York City, had to take currency fluctuations into account when striking a deal… Read More
Commerzbank and UniCredit Complete First UK BPO Live Transaction
Commerzbank London and UniCredit have successfully processed the first UK Bank Payment Obligation (BPO) live transaction. The transaction covers the… Read More
Supply Chain Finance: One Bank Can’t Do It All
Anyone familiar with global supply chain finance initiatives can appreciate the complex orchestration that goes on between treasury, funders, technology,… Read More
Big Data: What Does it Really Mean for the Financial Sector?
Traditionally, the financial sector hasn’t been the most receptive to new technologies. As an industry that thrives by minimizing risk… Read More
THE BENEFITS OF EXTENDING TERMS WITH SUPPLIERS
A few years ago, Whirlpool Corp. made a push to get extended payment terms from its vendor base. Instead of… Read More
When Will the Export-Import Bank Get Back in Business?
Congressional Republicans are redoubling their efforts to find a way for the Export-Import (EXIM) Bank of the United States to… Read More
HOW TO SETTLE UP WHEN DOING BUSINESS IN MIDDLE EASTERN COUNTRIES
Jeremy Davis sells about half of the customized Rolex watches that his New York City firm Tempus Machina designs to… Read More
Why Are Companies Holding So Much Cash?
Corporations around the world, and especially those based in the United States are currently holding unprecedented piles of cash. U.S…. Read More
Fourth Quarter Currency Impact for Multinationals is the Largest Seen to Date
Of a total of 1200 companies analyzed by FiREapps, 409 companies—357 in North America and 52 in Europe, or 34… Read More
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