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Citigroup Back To NY Federal Court Over $900M Error

PYMNTS

Reuters reported the New York-based multinational investment bank and financial services corporation filed its third suit in the U.S million from Symphony Asset Management LLC, the San Francisco research, valuation and risk analysis firm. On Tuesday (Aug. 18), the financial services giant filed suit to recoup $127.3

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WeBank Banking On AI To Improve Customer Service

PYMNTS

Tencent’s WeBank, China’s first internet-only bank, is banking on artificial intelligence to improve customer service, reported CNBC. “Banking, traditionally, was passive in a sense that … there is an office and people walk in and get services and only the VIP get(s) the best services,” Qiang said.

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How to create & use pro forma statements

Cube Software

Another, critical use case of pro forma financial statements is risk analysis. This is known as sensitivity analysis , and basically shows how risky the company's current position is. Keep in mind pro forma statements do not usually include one-time costs such as restructuring costs.

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