Commercial banks
IVI Checkmate Corp., a leading provider of electronic payment solutions, has announced its entry into the US retail banking market with a significant order from NationsBank. The company's CMR 430 check readers will be installed in multiple banking offices throughout the NationsBank franchise, aimed at reducing counterfeit fraud
Commercial banks
NationsBank is expanding financial inclusion options for employees without traditional bank accounts by introducing the CashPay ATM card. Rolled out on July 1, this new product allows employees of participating companies to use their ATM card to withdraw their paychecks at a convenient location. The bank charges a $1.50
Commercial banks
David Goodwin, known for his reputation for cost-cutting, has been appointed deputy group chief executive at the Royal Bank of Scotland. His rapid career rise, which began just three years ago, has sparked both praise and criticism. Goodwin, 39, had previously worked at the Clydesdale and was considered for a
Commercial banks
Fred Goodwin, 39, the chief executive of the Clydesdale and Yorkshire Banks, has been appointed as the deputy chief executive of the Royal Bank of Scotland. This move is seen as a step towards Goodwin likely succeeding Dr George Mathewson, the group chief executive, who is set to step down
Commercial banks
Technology developed by Argonne National Laboratory and a Russian lab has led to the creation of biochips that can decode genes within seconds. This advancement may be used to diagnose patients with mutations that cause cancer, multiple sclerosis, and Alzheimer's disease. Meanwhile, in the financial sector, a merger
Commercial banks
Wisconsin-based Firstar Corp. is reportedly on the verge of a massive merger with Cincinnati-based Star Banc Corp., a deal that could top $5 billion, according to the Wall Street Journal. The combined entity would boast an impressive 625 branches across seven Midwestern states and Arizona, solidifying its position as a
Commercial banks
Alliance & Leicester, a former building society, was put into play as a potential takeover candidate after reports surfaced that it is seeking a merger with the Woolwich. This move could create the UK's third-largest mortgage lender, worth around £10 billion in market capitalization. The possibility of a
Commercial banks
Analysts have issued a new round of "buy" recommendations on banks that have formed unions, including North Carolina's First Union Corp. and Fulton Financial Corp. of Lancaster. This favorable attention comes after a meeting with top officials of First Union, where Chairman Ed Crutchfield announced a
Commercial banks
First Union Corporation's board of directors has once again increased the quarterly dividend on its common stock, marking the third time in 12 months the dividend has been raised. The new quarterly dividend of $0.42 per share, effective with the third quarter of 1998, represents a 31%
Commercial banks
In a bid to become one of the largest U.S. operators of nursing homes, Health Care & Retirement and Manor Care have agreed to combine in a stock swap valued at approximately $2.41 billion. The new company, to be called HCR Manor Care, will be headquartered in Toledo,
Commercial banks
A coalition of black business groups in Florida has joined forces to block the proposed merger between NationsBank and BankAmerica, citing NationsBank's failure to keep its promise to increase lending to minorities in the state. The group, called the Coalition, has written a letter to the Federal Reserve
Commercial banks
The Royal Bank of Scotland is poised to receive a significant payment of $15 million from Birmingham Midshires Building Society, following the latter's release from a $630 million buy-out agreement. The decision comes as Halifax plc has stepped in with a larger offer of $780 million, resulting in
