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UBS Nears Massive Settlement Over Credit Suisse Scandal

UBS Nears Massive Settlement Over Credit Suisse Scandal

Hey Digital Banking Fanatic! UBS is reportedly close to settling a U.S. Department of Justice (DOJ) case tied to Credit Suisse, which it acquired in 2023. The settlement could cost UBS hundreds of millions, according to The Wall Street Journal. The case stems from Credit Suisse breaking a deal

AI in Banking: Jobs at Risk, Profits to Soar

AI in Banking: Jobs at Risk, Profits to Soar

Hey Digital Banking Fanatic! Bloomberg Intelligence reports that global banks could eliminate up to 200,000 jobs in the next three to five years due to AI adoption. Based on a survey of 93 Chief Information and Technology Officers, banks expect an average 3% workforce reduction, with some predicting cuts