Columbia Banking System and Bank of Commerce Holdings Announce Shareholding and Regulation … | New

TACOMA, WA and SACRAMENTO, CALIF., September 22, 2021 (GLOBE NEWSWIRE) – Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”), the holding company of Columbia State Bank and Bank of Commerce Holdings (NASDAQ: BOCH , “Bank of Commerce”), the holding company of Merchants Bank of Commerce, today jointly announced the approval by Bank of Commerce shareholders of their proposed merger and receipt …

JP Morgan Chase to replace core banking system with Google-inspired cloud platform

US bank JP Morgan Chase is replacing its core banking system with a cloud-native system from UK fintech Thought Machine. The Google-inspired system, known as the Vault, enables banks to provide customers with functionality and ease of use similar to those offered by internet giants. The Thought Machine, which premiered in 2016, is a London-based brainchild of former Google executives, …

10 steps for an efficient selection of the central banking system

Basic banking systems are the backbone of the products and services offered by banks. As technology becomes a value differentiator, poor system selection can lead to huge lost opportunities. Although there are several vendors offering out-of-the-box packages, each claiming to have a long list of implementations around the world, care must be taken to ensure that the solution meets the …

Mizuho to review banking system recovery procedures after problems

Mizuho Bank and its parent company, Mizuho Financial Group Inc., submitted a report to the Financial Services Agency on Tuesday on a recent system problem, including a plan to redo their system restore procedures. The report also planned to review the mega-banking group’s customer response measures and conduct a thorough inspection of its new core banking system. Meanwhile, the bank …

OnlyFans shows how the banking system is politicized

Recently, popular content subscription service, OnlyFans, announced a movement away from sexual content. Specifically, the platform announced a ban on explicit and sexual content (while allowing more harmless nude content). The movement raised its eyebrows; OnlyFans banning sexual content is like a lion announcing his intention to become a soccer or football star Lionel Messi banning his left foot. Sexual …

S&P welcomes stability of North Macedonian banking system

SKOPJE (North Macedonia), Aug.26 (SeeNews) – North Macedonian central bank NBRSM has said Standard & Poor’s (S&P) has confirmed its long-term and short-term sovereign credit in foreign and local currency ‘BB- / B’ ratings on the country, highlighting the stability of its banking system. “The central bank successfully maintains confidence in the banking sector, as also evidenced by the steady …

Indonesia wants an open banking system

Indonesia has set a framework for an open banking system that will enable interoperability between digital businesses and boost the country’s e-commerce market. The initiative started in 2016, and on August 20, Bank Indonesia published a standard on standards for an open application programming interface (API) for payments. According to the new standard, 16 banks and payment service companies will …

DOF pledges to strengthen Islamic banking system

MANILA, Philippines – The Department of Finance (DOF) is committed to strengthening the Islamic banking system in the Philippines to boost investor confidence and advance peace in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Finance Secretary Carlos Dominguez said the DOF will work with Islamic banks to improve their portfolios as part of efforts to create a financial industry …

Strong retail rush for 4 IPOs puts banking system under pressure

According to industry players, many banks struggled to process the record 10 million retail inquiries collected, resulting in a higher failure rate and delayed OTP messages. The subjectsIPO | Banking system | Individual investors The four Initial Public Offerings (IPOs) that closed on Friday generated offers worth 1.7 trillion rupees and attracted more than 10 million retail applications, straining the …