New technology had major impact on the way we perform our everyday activities. The way we communicate, the way we make purchases has change drastically during the last decade. Of course the way we bank has also changed with the development of online banking. While the influence of the technology is
Tag: Banks
Bitcoin Bank opened in Vienna – Austria
The first bitcoin ATM in Austria has been introduced three years ago. Today, there are more than 20 merchants accepting bitcoin in Vienna. Nowadays, an interesting news is the newest development in relation to the virtual currency. Namely, a bank focused on activities related to the virtual currency, named “Bitcoin Bank”,
Unwrapping the Wells Fargo phony accounts package
Almost a month ago we have witnessed on of the biggest scandals in the banking industry. The gigantic magnitude of the scandal should not be seen from financial perspective. Instead, its magnitude should be seen in terms of number of customers who became victims because of inadequate sales practices. This
The return of the fallen Giant – Deutsche Bank
Deutsche Bank was subject to numerous settlements in the last couple of years, which cost the bank billions of dollars. These settlements were made because of the manipulation of global interest rates as well as activities performed by the bank in the foreign exchange rate. Additional burden, has been the
Commerzbank plans to focus on its core activities
Commerzbank has announced its plans to undergo a restructuring of its activities and operations. The restructuring is part of the strategy to cover its losses, and concentrate its activities in two segments: private customers and corporate clients. Commerzbank is the second biggest lender in Germany, after Deutsche bank. The restructuring
Wells Fargo fake accounts scandal – Who should we blame?
Scandals in the banking sector are not rare, but the newest scandal attracted much attention. The latest scandal with phony accounts has shown the pressure banks and bank employees are having in order to meet their sales goals. In addition, the Wells Fargo scandal is showing the vulnerability of bank