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As part of a government-backed rescue plan earlier this year as well as a bid to prevent any financial market instability, UBS acquired Credit Suisse in a $3.2 billion deal. The long-awaited conclusion of the Credit Suisse Group AG (SWX: CSGN) acquisition by investment banking giant UBS Group AG (SWX: UBSG)
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As a layer 2 blockchain, Polygon is designed to process transactions at a greater speed and lower cost than the main Ethereum network. Polygon also has aspirations to expand beyond Ethereum to become an "internet of blockchains", connecting any Ethereum-compatible networks together, while continuing to reduce transaction costs and increase
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Currently, the Digital Labs arm of the company is working on utilizing LLMs for analyzing customers’ feedback and inquiries. American Express (NYSE: AXP) has joined the new wave of companies adopting AI to scale their businesses. The financial services corporation is planning to deploy AI in validating transactions and approving lines
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Hidden Road customers will have access to CROSSx, Crossover’s execution only communication network (ECN), to execute cryptocurrency spot transactions, according to the press release. Hidden Road is the first firm to onboard with CROSSx, which Crossover launched in March. Source
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According to the UBS post-acquisition plans, it is going to implement a phased integration of the Credit Suisse brand which may last a couple of years. Swiss multinational banking giant UBS Group AG (SWX: UBSG) has revealed new details about what its liabilities are likely to be from the acquisition of
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The acquisition of Credit Suisse by the bigger bank has been viewed using different lenses by industry observers. Swiss multinational investment banking firm UBS Group AG (SWX: UBSG) has announced that Ulrich Koerner, the CEO of Credit Suisse, will be joining the executive board of the new joint entity. The update
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves El Salvador’s
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Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest
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Artificial Intelligence (AI) can be used to improve credit scoring in a number of ways. Credit scoring is the process of assessing a borrower’s creditworthiness based on their credit history, financial data and other relevant factors. Here are some ways AI can improve credit scoring:Better data analysisAI can analyze large
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Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating
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