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Free British bank accounts unsustainable, says PwC
British banks' practice of offering free current or checking accounts for customers in credit is unsustainable and heightens the risk of future mis-selling scandals, according to a report by PricewaterhouseCoopers (PwC).
Canadian banks embracing the fintech revolution: PwC
Banks across Canada are investing in fintech start-ups to bring innovation in the banking industry, according to a PricewaterhouseCoopers (PwC) report.
Retail banking sector to change drastically by 2020: PwC survey
The retail banking sector is set to undergo a drastic change by 2020 as banks focus on technology, innovation and customers to attain success, according to a survey by PricewaterhouseCoopers (PwC).
Bankers fear losing a quarter of revenue to fintech disruptors: PwC
Bankers are apprehensive that they could lose up to a quarter of their revenue over the next five years due to the rise of new financial technology (fintech) firms, according to a survey by PricewaterhouseCoopers (PwC).
PwC unveils new digital currency service
Consulting and auditing firm PricewaterhouseCoopers (PwC) has unveiled a new cloud-based fintech platform to enable use of digital assets for everyday banking, commerce and other personal currency and asset related services.
Customers will pay up to £10pm for digital banking: PwC
Digital banking is set to overtake the branch channel as the main way customers interact with their bank by 2015, according to a report from the consultants PricewaterhouseCoopers (PwC). The survey, The new digital tipping point, reports that consumers are willing to pay up to £10 ($15.30)a month for digital banking services, if they believe they offer convenience and value. In particular, the report says that customers are willing to pay for social media notifications, an electronic wallet for loyalty cards and financial tools provided by banks
GCB Bank acquires UT Bank and Capital Bank
Ghana’s GCB Bank has received the nod of the country’s central bank to acquire all deposits and selected assets of…
PwC: Bank power shift to China speeds up
China is expected to overtake the US and become the largest banking economy in the world by 2023, 20 years earlier than pre-financial crisis projections, according to the latest PricewaterhouseCoopers (PwC) report.
US court orders PwC to pay $625m for negligence in banking audit
A US court has ordered PricewaterhouseCoopers (PwC) to pay $625.3m as damages for negligence in auditing work of Colonial BancGroup,…
Canadian court orders wind-up of SVB’s local branch
Canadian authorities have been ordered by the Ontario Superior Court of Justice to wind up the operations of Silicon Valley Bank’s Canadian…
PwC to pay $335m for Colonial Bank auditing negligence
PricewaterhouseCoopers (PwC) has agreed to pay $335m to settle claims of ‘professional negligence’ in auditing work of Colonial BancGroup, an…
Bank of Tokyo-Mitsubishi hit with $315m fine for watering down report
Bank of Tokyo-Mitsubishi (BTMU) has been slapped with a penalty of $315m by New York's banking regulator for misleading regulators regarding a probe of the banks transactions with countries subject to US sanctions.
UK financial services companies hire an extra 10,000
A study has found that financial companies in the UK hired an additional 10,000 staff in the three months to December 2013.
Disruption as a force for change
Every week, it seems that there is a new entrant to the banking sector claiming to be disruptive. However, is this really the case? Big banks do not appear to be heading anywhere. New research from PricewaterhouseCoopers (PwC) states that they well might. Patrick Brusnahan reports
Regulation tops A-P banana skin survey
An annual survey by the UK-based think tank the Centre for the Study of Financial Innovation, sponsored by consultants PricewaterhouseCoopers, reports bankers in Asia-Pacific believe too much regulation and macro-economic trends are the biggest threats to the financial services industry today Bankers in Asia-Pacific are very concerned that over-regulation could lead to stifled recovery and unintended consequences such as more costly systems or unsustainable business models, according to the 13th Banking Banana Skins 2010 survey.
Wells Fargo shakes up board; names new board chairperson
Wells Fargo has restructured its board and appointed Elizabeth Duke as the new chair of the board following a sales…
Financial services industry to be highly disrupted in the next six months due to COVID-19: Poll
The impact of the COVID-19 pandemic on the financial services sector has been mixed but the future remains uncertain due…
Bleak conditions in UK banking sector continue into 2011
The latest survey on the financial sector by Pricewaterhouse Coopers (PwC) and CBI confirmed bleak conditions in the UK banking market Although banks feel more confident than at any time since 2005, profitability grew at the slowest pace in since March 2009 and fell unexpectedly in the last three months of 2010. In retail banking, the survey found that subdued business was triggered by continuing feeble conditions in new mortgage lending and debt repayment
Salt Edge to join PwC’s Digital Ecosystem Banking initiative
British consulting giant PricewaterhouseCoopers (PwC) has picked Salt Edge, an open banking solutions provider, to join its Digital Ecosystem Banking…
M&A activity set for growth in 2010
UK financial technology merger and acquisition activity is set to pick up in 2010, according to a report from consultants PricewaterhouseCoopers While fintech M&A activity in 2009 hit a six-year low, the right conditions appear to be in place to spur recovery within the sector, reports Douglas Blakey. UK technology M&A activity will increase in 2010 as deal pipelines and activity levels increase, according to a report from consultants PricewaterhouseCoopers (PwC).