UK Retail Banking News

Related Banking and Non Bank Finance Industry News

• July 2023: Citi unveiled its trade and working capital eLoans, a financial solution tailored to address immediate and future working capital needs. Citi eLoans, emphasizing simplicity and security, aims to empower eligible clients with the necessary liquidity to sustain their commercial operations.
• May 2023: JPMorgan Chase made a significant move by acquiring the lion's share of assets, along with deposits and select liabilities, from First Republic Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). This acquisition contained First Republic Bank's assets, boasting a loan portfolio of around USD 173 billion and securities valued at approximately USD 30 billion.

• September 2023 - Standard Chartered Bank, a multinational bank, launched a sustainable trade loan offering for financial institutions. It will assist financial institutions in providing liquidity associated with sustainable development in the most needed areas.
• April 2022 – The Asian Development Bank signed a deal with Axis Bank Limited worth up to USD 150 million to work together to expand supply chain financing for small and medium-sized businesses. The Asian Development Bank will guarantee loans made by Axis Bank to assist supply chain finance for impact sectors under the terms of its Trade and Supply Chain Finance Programme (TSCFP).

• May 2022: CAIXA inaugurated a new unit in Rio das Ostras (RJ). Located at Rodovia Amaral Peixoto, 4170, Balneário Remanso Rio das Ostras -RJ, the unit will offer the entire portfolio of CAIXA products and services and operate the social programs of the federal government.
• May 2022: CAIXA inaugurates a new unit in Alenquer (PA). Located at Rua João Ferreira S/N, Centro, the unit will provide relationship customers with a complete service of CAIXA's portfolio of products and services.
• March 2022: CAIXA inaugurated new facilities in the Ariquemes (RO) branch located in the municipality of the same name, in Rondônia. The unit offers the entire portfolio of CAIXA products and services, in addition to operating the Federal Government's social programs.
• March 2022 - Banco do Brasil reopened the CDC Anticipation IRPF with attractive interest rates, which vary according to the client's profile, starting at 1.99% per month. BB customers can advance up to 100% of the Individual Income Tax refund amount, up to a limit of BRL 20 thousand.
• March 2022 - Itaú Unibanco inaugurated a center for specialized service for corporate clients in the West Zone of São Paulo (SP), especially small and medium enterprises. It is the sixth hub opened by the bank, and the first in São Paulo, with a new service model for customers in the segment. Itaú Empresas, as part of Itaú's Retail Transformation project, is located in the Pinheiros neighborhood. By April, the bank will have 15 units in different regions of the country.

• In May 2021, HSBC announced that it is exiting the retail and small business banking market in the United States, in line with its strategy to refocus on corporate and investment banking in Asia.
• In November 2020, Wells Fargo announced a new solution to help business customers eliminate paper checks by using one-time virtual card numbers to digitally pay invoices through the WellsOne Virtual Card Payments service.

• July 2023: Citi unveiled its trade and working capital eLoans, a financial solution tailored to address immediate and future working capital needs. Citi eLoans, emphasizing simplicity and security, aims to empower eligible clients with the necessary liquidity to sustain their commercial operations.
• May 2023: JPMorgan Chase made a significant move by acquiring the lion's share of assets, along with deposits and select liabilities, from First Republic Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). This acquisition contained First Republic Bank's assets, boasting a loan portfolio of around USD 173 billion and securities valued at approximately USD 30 billion.

• March 2024: CNB Bank & Trust (CIBC) and Insuritas partnered to launch an embedded full-service insurance agency. Insuritas is proud to announce that it has been chosen by CIBC to install its award-winning, fully-functioning digital insurance agency solution. BUNDLE is Insuritas' award-winning, full-functioning insurance agency platform embedded in CIBC's ecosystem and engineered to provide a complete solution for CIBC's retail and commercial clients.
• June 2023: Clover Health Investments Corp., a leading provider of physician enablement services with a mission to improve Medicare access to quality healthcare, announced that it had reached a partnership agreement in principle to settle seven derivative lawsuits that are pending in the courts of Delaware and New York, as well as in the courts of Tennessee.

• In August 2023, BlackRock Inc., a prominent international credit asset manager, acquired Kreos. Kreos, renowned for its specialization in growth and risk-based financing for technology and healthcare enterprises, enhances BlackRock's market presence. This acquisition aligns with BlackRock's strategic objective of broadening its private-market investment portfolio.
• In January 2023, Fidelity Investments acquired Shoobx, a leading provider of automated equity management and financing software. Shoobx caters to private companies across various growth stages, including IPOs.

• July 2023: Backbase, the world’s largest omni-channel bank, has partnered with OBC to accelerate its omni-channel banking transformation, as announced in a signing ceremony.
• February 2022: Visa, the world’s largest digital payment company, partnered with VNPAY, a leading fintech company in Vietnam, to improve the digital payments ecosystem in Vietnam.

• September 2023: PayU, an Indian payments company, partnered with WhatsApp to considerably improve Indians' purchasing experience.
• November 2022: The Hyderabad-based SaaS business CreditVidya was acquired by Bengaluru-based financial unicorn CRED in a deal that included cash and stock. The value of the agreement has not been made public by the companies.

• September 2023 - Standard Chartered Bank, a multinational bank, launched a sustainable trade loan offering for financial institutions. It will assist financial institutions in providing liquidity associated with sustainable development in the most needed areas.
• April 2022 – The Asian Development Bank signed a deal with Axis Bank Limited worth up to USD 150 million to work together to expand supply chain financing for small and medium-sized businesses. The Asian Development Bank will guarantee loans made by Axis Bank to assist supply chain finance for impact sectors under the terms of its Trade and Supply Chain Finance Programme (TSCFP).