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Global Intelligence

Africa Snip
Friday 29th September @ 12:34pm

Merchant acquiring in Africa remains underdeveloped relative to other regions of the world: the traditional acquiring models which have been successful in the developed world have for the most part failed in spreading card acceptance beyond large urban centres and popular tourist destinations.The costs involved in installing POS terminals are often prohibitive for smaller African merchants and the potential volume insufficient for acquirers to consider subsidising these costs. This conundrum...MORE

Cards, credit cards, debit cards, finance, money
Friday 29th September @ 11:33am

At the end of 2016, credit card outstandings in Argentina stood at $15.3 billion, which was an increase of 741 percent compared to 2010. This figure represented 42 percent of total consumer finance in 2016, although Lafferty expects that this proportion will decrease to 37 percent by 2019. Credit card loans experienced strong growth between 2010 and 2016 and represent a key pillar for consumer spending in Argentina. Although credit card outstandings rebounded to a 59 percent growth level in...MORE

Thursday 28th September @ 3:02pm

Perhaps nowhere in the world is the ongoing transformation of a country from pro-cash to cashless more evidently intriguing than in India — and yet an eventual overhaul of how the country spends and sends money is not guaranteed.The demonetisation project brought in by Prime Minister Narendra Modi's government late last year to propel the country towards a digital age has endured a bumpy ride so far. Right now, despite all of the innovations and developments, there are no definite...MORE

Retail Banking Intelligence
Thursday 28th September @ 2:39pm

The forthcoming Revised Directive on Payments and Services (PSD2) has been touted as a game-changer across the European Union and is set to have an immense impact on how mobile payments are regulated as well as how widely they are embraced.With so many different takes doing the rounds, clarification about what is likely to be impacted most of all is never bad — so Lafferty recently tracked down Simon Pepper, Tola Mobile's Head of Product, to get his thoughts.Tola Mobile offers...MORE

Thursday 28th September @ 2:05pm

Big Tech companies are engaged in a kind of pincer movement that may yet cause the retail banking industry some pain.On the one hand, riding on the rails provided by open APIs and shared digital infrastructure, they are starting to offer the kind of highly visible, whizzbang interface that consumers already love in social media and entertainment: a recent example of this is Tez, launched this month in India by Google with the finance minister in attendance, a clear signal...MORE

security, alarms, key, password, virus
Thursday 28th September @ 2:00pm

If Equifax has been the shining example of how to commoditise data, then the recent breach which saw over 143 million people's data impacted by hackers is outlining just how priceless that process is.The credit bureau's mighty faux-pas is continuing to reverberate around the globe, considering how poorly they handled it — and news of company CEO Richard Smith's recent retirement is creating the opposite of the desired effect; having waited three weeks to leave quietly, he has...MORE

binary, computers, computer
Thursday 28th September @ 1:56pm

While the term fintech is becoming a buzzword for this generation of consumers, the evolution of financial technology goes back as far as recorded civilisation and probably further. From effective bank cheques scribed on ancient papyrus to a medieval 'credit card' whereby European merchants etched marks onto a square of wood to record monies lent then split the tally stick in two — one half for the creditor the other for the debtor — sharp minds have always harnessed...MORE

Buildings, skyscrapers, city
Thursday 28th September @ 1:40pm

The internet is chock-full of secrets and tips for a better, happier life, but perhaps the best way to measure your happiness, if you're feeling so inclined, is to take a trip to Dubai and measure it for yourself.That's because the Emirati government has developed something called the "Happiness Meter" which is designed to measure the happiness of its citizens, residents and visitors."If you go across Dubai right now, you'll see a lot of these smiley-faced...MORE

Thursday 28th September @ 1:23pm

It is always worth paying attention when digital innovation is used to find a way around the challenge of building and establishing creditworthiness. Interesting services originating from Europe meet the challenge of being unbanked in one of its most acute forms, that of refugees.For more than 60 million refugees in the world today it would typically take a long time before they acquire work permits and documents needed to open bank accounts that are essential, in many cases, to facilitate...MORE

Friday 28th July @ 3:48pm

Co-operative Bank secures deal £700m debt-for-equity swap means the bank is secure, but is now 99 percent owned by hedge fundsThe Co-operative Group's stake has now fallen to just 1 percent and the agreement to promote bank services to Co-operative Group members "will naturally fall away and come to a formal end in 2020". The move is likely to see Co-operative Bank edge away from its former ethical and co-operative stance, with Triodos Bank possibly moving into that...MORE

screenscraping F544 400px
Friday 28th July @ 3:28pm

Perhaps nowhere is the clash of cultures between Banking and Tech clearer than in the current debate on screen scraping rumbling through the corridors of power in Europe.As the European Banking Authority (EBA) and European Commission exchange contrasting views over the practical realities, the PSD2-led matchmaking of fintech and banking in Europe now seems less love story than morganatic marriage. (Associated with dynasties, such an arrangement denies the customary...MORE

Africa interoperability shutterstock_110973782 400px
Thursday 27th July @ 1:07pm

On a research trip in Africa in early May, Lafferty News heard one issue raised again and again: interoperability. That one word covers a multitude of challenges and in Africa, interoperability takes on an additional weight because of the relative success and potential for widespread adoption of mobile money. Interoperability can't be separated from financial inclusion — possibly the second most-oft mentioned issue in African financial services. While the continent gained some degree of...MORE

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