Today In Digital-First Banking: Former Barclays Exec Chosen To Lead Citi Commercial Bank; Trade Group Looks For Greater Crypto Entity Oversight
In today’s top news in digital-first banking, a former Barclays executive has been named to serve as head of Citi Commercial Bank (CCB), while the American Bankers Association is looking for more oversight of digital currency companies. Plus, ForwardAI has rolled out its ForwardAI Precise offering.
Tasnim Ghiawadwala has been appointed to serve as the head of Citi Commercial Bank (CCB). “[Ghiawadwala] brings with her a deep experience in commercial, corporate, consumer and investment banking, as well as a strong track record in driving business growth and transformation, and delivering superior results in periods of intense change,” Paco Ybarra, global head of Citi’s Institutional Clients Group, said in an announcement. Ghiawadwala returns to Citi from Barclays Bank. The executive was previously with Citi for over two decades.
The American Bankers Association (ABA) said in testimony last week that it believes the standards for digital currency companies should be bolstered. “We believe that our diverse banking ecosystem is a source of strength, and supports new entrants and new ways of reaching consumers. However, we do not believe that jurisdictions should create new charters, or apply new interpretations to traditional charters, that are designed to pair bank-like benefits … with less regulation and oversight of consumer and systemic risks,” it said.
ForwardAI has launched ForwardAI Precise, which is an application programming interface (API) that provides a collection of cash flow, accounting and financial information for small to medium-sized business (SMB) lending. The offering provides as much as three years of historical data and a year of forward-looking data. “By streamlining access to accurate, normalized data in real time, ForwardAI Precise is ultimately fast-tracking growth throughout the SMB market at an incredibly critical time — the faster that businesses can get loans, the faster they can succeed,” ForwardAI Co-founder and CEO Nick Chandi said in a release.
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