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US consumers seen boosting big banks’ profits

NEW YORK: Consumer lending is expected to propel profits for big US banks when they unveil fourth-quarter results this week, though stress in corporate lending and uneven capital markets may cast a shadow over results.

South Korea’s fintech race heats up

AN inflow of new players is likely to intensify the heated digitalisation race in South Korea’s financial industry this year, along with the industry-wide efforts to expand the scope of business and accelerate innovation.

Startups chase US$55bil boom from privacy law

BUSINESSES operating in California are required to be in compliance with a sweeping new privacy law, the California Consumer Privacy Act (CCPA), starting this month.