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Retail Banking Intelligence

Friday 27th October @ 4:42pm

It is over a decade since the first contactless payment was made in the UK, and the technology has showed little sign of abating — but how far away are we from seeing a fully-cashless economy emerge on British shores?Where once contactless payments were something someone more tech-savvy than you engaged with at the till, as you strained your neck to see, they are now part of the fabric of everyday life for many Britons.So, Lafferty News recently tracked down PPRO Group's Chief...MORE

Friday 27th October @ 4:21pm

Back in January this year, Ecobank — the pan-African financial institution — announced that it was launching a fintech challenge, inviting innovators from around the continent to come up with solutions to some of the most pressing financial dilemmas.In July, the top three winners were announced after being whittled down from 20, so a few months into their relationship with Ecobank, it's time to take a look at each individual winner and analyse their merits.It was perhaps no...MORE

Friday 27th October @ 4:13pm

With a name like Alpha Fintech (formerly Alpha Payments Cloud), it is little wonder that the Dublin-headquartered firm has such a vested interest in the success of an exciting, growing fintech sector.Lafferty News recently caught up with Alpha Fintech's CEO Oliver Rajic to discuss what his company's re-brand means for them, for the payments industry at large and to get his thoughts on the winds of change currently gusting through the legacy players."In the old days, way...MORE

Mortgage Lending UK
Friday 27th October @ 4:05pm

Deja-vu might be something of a mystery for even the most degree-laden of boffins, but when it comes to the combination of Ireland and financial scandals, it's much easier to explain that if it feels like you've experienced it all before, the chances have.Having been the subject of an 'investigation' since 2015, the tracker mortgage debacle which could see a final figure of as many as 30,000 customers affected has reared its head in public conscience once more in...MORE

Friday 27th October @ 2:06pm

CASH ISN'T DYING. IT'S NOT EVEN SICK!'Cash isn't King anymore', 'Cash is still King', 'Cash is King, but not for much longer', 'Why Cash will always be King', 'Why Cash will never be King again', 'Cash isn't done yet', 'Cash fell into a burning ring of e-fire', 'Come back cash, all is forgiven'.Just a few of the headlines that glare back from your screen the second you google the future of cash.With the rise...MORE

Chipboard, motherboard, computers, online banking
Friday 27th October @ 11:05am

Who would be happy to let Facebook in their bank accounts?I have to admit — I myself won't be too comfortable doing so, at least not when it is new. Call me a late adopter but I have to see first how it works for other people. I am not alone in this. Based on a recent survey of 2000 people in the UK by Accenture it appears that in the UK at least, many are not necessarily ready to welcome open banking with open arms. According to the survey, https://newsroom.accent...MORE

Friday 27th October @ 10:07am

McKinsey's influence on the banking industry has left a mixed record — to say the least. A pair of recent scandals in which the name of McKinsey and Co. has cropped up sends one back to consider the influence of ex-McKinsey people on banking: there have been a large number of them — with several appointed only to be later sacked. In Australia, as readers will recall, serial money laundering through Commonwealth Bank of Australia machines came to light over the summer...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

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

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