Sweep accounts are one of the fastest growing and most profitable bank products, with assets up 77% in two years, according to a study released today by Treasury Strategies, Inc. The firm estimates that bank sweep accounts are the most profitable cash management product offered. The TSI study focuses on sweeps from business checking accounts, although banks offer sweeps to consumers and trust customers as well. Reflecting the growing importance of business sweep accounts, the survey attracted 245 responses, which represent 57% of total deposits from the 1,471 largest U.S. banks.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.