Category: Banking
African Banks Turn to IBM to Support New Wave of Innovation in Banking Services
IBM has announced details of five strategic agreements in the Kenyan financial services sector as banks across Africa turn to advanced technologies to support rapid growth, increase profitability and launch innovative new services such as mobile and internet banking. Over the last six months IBM has signed contracts with five of Kenya’s leading banks: Credit [...]
Bank of America axes $5 debit card fee
So the day after Suntrust decides to axe the debit card fee, Bank of America said Tuesday it’s axing its plan to charge a $5 fee for customers who use their debit cards to make purchases. In September, the bank announced that it would begin charging most customers the monthly fee early next year. But [...]
SunTrust, Regions latest banks to retreat on debit fees
Finally there is some good news for the average consumer on the banking front as the big banks’ race to backpedal on controversial debit card fees has picked up speed. SunTrust (STI, Fortune 500), a large regional bank based in Atlanta, announced Monday that it will no longer charge $5 a month for debit card [...]
Bank of America to charge $5 monthly debit card fee
It appears that the good ol’ days of debit cards are back as Bank of America becomes the latest bank to slap the debit card fee on consumers. According to CNNMoney, Bank of America will begin charging a $5 monthly fee at the beginning of next year for customers who make debit card purchases. Whether [...]
Iraqi Banking System Needs Overhaul
BAGHDAD: Decades of dictatorship, war, international sanctions, and isolation from the outside world have left Iraq’s banking sector in such a poor state that people do not believe such things as cash machines or a “smart card” exist, a senior banking official says. Rafidain Bank Director Abdul-Hussayn al-Yasiri told RFE/RL’s Radio Free Iraq that if [...]
Europe puts more on the line for banks than US
Europe puts $2.3 trillion, far more than US, on the line for banks and stocks soar PARIS (AP) — Europe put $2.3 trillion on the line Monday to protect the continent’s banks, a figure that dwarfs the Bush administration’s $700 billion rescue program, in its most unified response yet to the global financial crisis after [...]
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