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Category: Banking Industry

Glitch allows Ethiopia bank customers to withdraw millions

Ethiopia’s largest commercial bank is trying to retrieve millions of dollars withdrawn by its customers after an incident it described as a systems glitch. More than $40m were reportedly withdrawn from the state-owned Commercial Bank of Ethiopia, or transferred to other banks, when customers found out they could take out more cash than they had…
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March 19, 2024
Top 10: Banks in the World

Despite a tumultuous 18 months for the sector, banks make up many of the world’s largest institutions. FinTech Magazine takes a look at the big players… Banking endured a rather tumultuous 2023, as the collapse of Silicon Valley Bank and Signature Bank, among others, sent shockwaves through the industry Then there was UBS’ cut-price takeover…
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March 17, 2024
Visa & Western Union Collaborate for Cross-Border Transfers

Visa and Western Union expand their collaboration to transform how money is transferred across borders using Visa Direct Leading payments processing company Visa has expanded its collaboration with Western Union by signing a new seven-year agreement that will enable Western Union customers to send money across borders to family and friends with eligible Visa cards. Visa will deliver this…
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March 17, 2024
Bitcoin Hits $73K, ETH Faces Downtrend

Crypto Price Today: Bitcoin soared to an astounding $73,000, the surge of 47% in the past monthCrypto Price Today: Bitcoin, the flagship cryptocurrency, has been on a remarkable ascent, defying skeptics and stunning investors worldwide. As it soared to an astounding $73,000, the surge of 47% in the past month and a staggering 199% increase…
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March 15, 2024
Easiest Ways to Transfer Bitcoin to Bank Account

Bitcoin transactions made easy: Navigating options for seamless conversions to your bank account As the popularity of cryptocurrency continues to grow, individuals are increasingly exploring ways for transferring Bitcoin into bank accounts and converting their cryptocurrency holdings into traditional fiat currency. Various methods exist, each offering unique advantages and considerations. In this article, we will…
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March 15, 2024
Focus on the top 5 leading banking technology firms to watch in 2024

The banking sector is experiencing a major shift as we enter 2024, fueled by developments in banking technology. Leading banking technology firms are utilizing state-of-the-art technology to provide creative solutions and services that are transforming the traditional financial environment. These companies are improving the financial services sector’s client experience in addition to increasing the effectiveness…
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March 15, 2024
IMF review mission to Zambia tentatively scheduled for mid-April

Zambia is planning to start rationing electricity next week as a devastating drought that has been declared a national disaster affects hydropower generation, as well as food production NEW YORK – The International Monetary Fund will assess the economic impact of a devastating drought on Zambia in a visit tentatively scheduled for mid-April, the fund…
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March 9, 2024
Capital One’s Takeover of Discover: All you Need to Know

Capital One’s proposed US$35.3bn acquisition of Discover Financial would bring together two of the largest credit card companies in the US This week we heard Capital One is set to acquire Discover Financial in what would represent one of the biggest deals in financial services in recent years. The US$35.3bn, all-stock transaction would bring together two of the largest…
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February 27, 2024
Capital One Could Buy Discover In Major Credit Card Merger

Capital One is considering acquiring Discover Financial, multiple outlets reported Monday, a move that would combine two of the nation’s largest credit card companies and reportedly create the single biggest U.S. credit card firm by volume of loans. KEY FACTSThe Wall Street Journal reported a deal could be announced as early as Tuesday, citing sources…
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February 20, 2024
‘Two taps and someone’s life savings could be gone’: Venmo, Zelle and Cash App fraud is ‘skyrocketing’, top District Attorney warns, demanding companies do more to protect users

Venmo, Zelle and Cash App are leaving customers vulnerable to theft, a top District Attorney has said Manhattan District Attorney Alvin Bragg accused the instant payment apps of putting customers at risk of fraud which is ‘draining bank accounts of significant sums of money.’ Bragg sent letters to the popular apps demanding that they increase…
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February 20, 2024