Frank Bisignano, who also led JPMorgan's mortgage banking business in the wake of the mortgage crisis, will lead payments management company First Data at a time of great change in the payments industry.
The bank technology vendor is offering a new service that provides consultant reviews and strategy recommendations for smaller banks looking to better their commercial lending business, while also announcing its first new client on the DNA platform since its acquisition of Open Solutions.
By Harichandan Arakali and Tony Munroe, Reuters | March 24, 2013
outsourcers are promoting "mini CEOs" capable of running
businesses on their own, while trimming down on the hordes of
entry-level computer coders they normally hire as they try to
squeeze more profits out of their staff.
Global banking regulators will examine whether their new rules forcing lenders to hold more capital to absorb any future losses should be simplified after criticism that they are too complex to be effective.
Bank of America Corp
will seek more lending and cash management business with
companies in Asia and elsewhere outside its U.S. home turf,
Chief Executive Brian Moynihan said, an area ripe for expansion
where it lags its big rivals.