Banking industry
Nationwide Building Society has emerged as a frontrunner in online banking, outpacing its competitors with its well-executed Internet strategy. As the winner of Retail Finance Strategies' inaugural ranking of Internet service strategies, Nationwide has demonstrated its Web-savviness and ability to adapt to the digital age. Its commitment to innovation
Banking industry
Niagara Bancorp, Inc., a leading community bank holding company, has signed a definitive merger agreement with Iroquois Bancorp, Inc. to acquire all outstanding shares for $33.25 per share in cash, totaling $80.3 million. The merger is expected to be completed in the third quarter of 2000 and will
Banking industry
Universal Payment Processing, a vertically integrated electronic transaction processor, is deploying Hypercom's ePic ICE(tm) 5500 touch-screen based payment terminals as part of its Universal Total Check(tm) and Universal Connect(tm) product offerings. The initial rollout plan involves 3,500 terminals. According to Florian DeVitis, senior vice
Banking industry
Contour Software, a leading mortgage software and services provider, has formed a strategic partnership with Tuttle Decision Systems to integrate Tuttle's Loan Officer Plus (LOP) pre-qualification product into Contour's flagship product, The Loan Handler. This alliance aims to provide mortgage lenders with a comprehensive and efficient
Banking industry
Dime Bancorp, a regional bank serving the New York City metropolitan area, has strongly rejected a hostile takeover offer from North Fork Bancorporation. In a statement, Dime's board of directors explained that the offer is "disruptive, inadequate, and not in the best interests of Dime shareholders."
Banking industry
Eldorado Bancshares, Inc., a banking company based in California, and American Sterling Bank have reached an agreement in principle for the wholesale mortgage lending division of American Sterling Bank to acquire the operations of Commerce Security Mortgage, Eldorado Bancshares's wholesale mortgage operation. The transaction is subject to approval
Banking industry
Yesterday's historic deal between Deutsche Bank and Dresdner Bank, facilitated by Allianz, has created a global banking giant, ranking it as the largest in the world by assets and the second-biggest in Europe after HSBC in market value. The merger aims to address the banks' need to
Banking industry
Speculation has been growing about a possible merger between Deutsche Bank and Dresdner Bank, Germany's second- and third-largest banks, respectively. Allianz AG Holding, a Munich-based insurer, owns 21.7% of Dresdner Bank and 5% of Deutsche Bank, and its position will be discussed as the banks' supervisory
Banking industry
The leadership succession at the International Monetary Fund has become the biggest battle for control of a major international institution since the United Nations Secretary General selection in 1996. President Clinton has vowed to block Caio Koch-Weser, a German finance ministry official, from becoming the head of the IMF, citing
Banking industry
As LendingTree Inc.'s initial public offering (IPO) approached in February 1999, the company's CEO, Doug Lebda, faced a challenging market environment. The Federal Reserve's interest rate hikes had sent shockwaves through the industry, and similar companies were struggling to stay afloat. However, Lebda remained
Banking industry
Canadian banks are incorporating technology into their annual general meetings, aiming to appear Internet-savvy to shareholders. CIBC is leading the way by broadcasting its meeting using both audio and video feeds, while other top banks such as the Royal Bank and TD Bank are opting for audio-only links. The use
Banking industry
As the German economy continues to show signs of optimism, with business confidence reaching a five-year high, concerns about the recruitment of high-tech personnel are mounting, according to a recent survey by the country's chambers of industry and commerce (DIHT). With 33% of 25,000 companies surveyed expecting
