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National Bank of Canada prioritizes cost management in Q1

Bank Automation

National Bank of Canada focused on cost management and overall efficiency as it boosted tech spend and pulled back on headcount in the first quarter of 2024. Tech spend grew 3.6% year over year to $CA259 million ($190 million) for the quarter ended Jan. 31 as the bank continued to invest in technology across […]

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Navisteps Lands $1 Million For SMB Travel, Cost Management

PYMNTS

Travel and cost management company Navisteps has notched $1 million in a pre-seed round, with investment originating from angel investors, Phocuswire reported. While expense and travel management solutions are not new, they traditionally target large enterprises.

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Earnings preview: Payments companies confront 3Q challenges

Payments Dive

Macroeconomic headwinds, consumer health and cost management are set to be topics of conversation during payments companies' quarterly earnings calls.

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Lloyds Bank’s operating costs up 11% YoY

Bank Automation

Lloyds Bank reported an increase in operating costs in the first quarter driven by higher inflation and increased investment in technology. Cost management remains a core discipline for us as a group,” Chief Financial Officer William Chalmers said during the bank’s earnings call today.

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GIC Explores Potential Sale of Minority Stake in Bukalapak

Fintech News

Shareholders in Bukalapak Source: MarketScreener In Q1 2024, Bukalapak reported positive adjusted EBITDA for the first time, driven by robust revenue growth and effective cost management. The company forecasts a positive adjusted EBITDA exceeding 200 billion rupiah for the full year.

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E-commerce is still making it too hard for consumers to pay

Payments Source

Modern, global merchants need comprehensive, integrated frameworks that reduce costs, manage risk and exposure, provide direct connectivity and redundancy to optimize reliability and keep control over the customer experience closer to the merchant, according to Eric Rosenthal, managing director of the Americas at Rapyd.

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MillTechFX: North American Fund Managers Brace for FX Volatility Amid US Election

The Fintech Times

In response, fund managers are adopting more robust hedging strategies. Despite higher hedging costs, managers are seeking greater protection. As managers prepare for T+1 settlement, they are increasing staff, improving communications, and upgrading IT systems, which has led to higher operational costs.

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