Banking

Temenos has introduced new Explainable AI (XAI) models to enable banks and credit unions to issue loans to small and medium enterprises (SMEs) whose cash flows have been disrupted due to COVID-19 (coronavirus) pandemic. The Swiss-based banking software developer said...

US-based credit risk management firm GDS Link has rolled out a new solution, dubbed Modellica Engage, to support the online digital lending services of banks. According to a 2018 Morningstar report, the loans sourced by marketplace lenders has increased from...

US-based cross-border payments company Western Union has launched a new service, dubbed Digital Location, enabling its customers to transfer money with comfort and safety of their home. The company intends to start a pilot on customers in Austria, Belgium, Italy,...

ANZ announced an unprecedented support package for small business and home loan customers with the potential to inject $6 billion into the Australian economy and assist in the recovery from the current COVID-19 crisis. The package includes a reduction of...

HSBC UK has launched the Coronavirus Business Interruption Loan Scheme (CBILS), which can be availed by existing customers with a group turnover of up to £45m HSBC UK said that it has extended financial support for businesses dealing with the...

New Jersey-based Provident Bank’s parent company Provident Financial Services has agreed to acquire SB One Bancorp in a deal worth $208.9m. SB One Bancorp is the holding company for SB One Bank, a full-service, commercial bank that operates regionally with...

The announcement from the State Bank of India follows the reconstruction scheme chalked out by the Reserve Bank of India for the financially troubled Yes Bank The State Bank of India said that its board has approved the state-run lender’s...