Friday 17th February @ 9:16am

Every few days we are reminded of the years-long hangover in southern Europe as a result of the global financial crisis. Yesterday we spoke about Spain. The Greek crisis continually threatens to destablilise Europe. Now Italy is back in the headlines, with the government...MORE

Thursday 16th February @ 9:26am

Japan has an accommodating approach to bitcoin and three of the biggest Japanese banks have now invested in bitFlyer, the Tokyo-based bitcoin exchange. Yesterday, bitFlyer announced new fundraising from Sumitomo Mitsui, Mizuho Financial Group and Dai-ichi Life Insurance. (Mitsubishi UFJ Capital invested in bitFlyer in...MORE

Wednesday 15th February @ 9:52am

Next month, Lafferty will publish its next thought leadership report, titled Payments Power . Author Peter Kinahan argues passionately that banks must hold on to and develop their payments infrastructures rather than let fintech players run away with this business. Why the passion? Today's crop of news stories makes it plain. For a start, the 'Bank of Tech' is coming . As...MORE

Tuesday 14th February @ 10:10am

In Sweden, you can Swish; in Denmark you had Swipp; and now banks in Norway have plumped for Vipps. Nordic banks are battling to hold on to the payments infrastructure by developing successful mobile payments systems — echoing the struggle taking place in Australia between the banks, Apple Pay, and some social media players dabbling in payments. In Scandinavia, two banks stand out. Norway's DNB developed a payments app in 2015 called Vipps, which is now http://finance.y...MORE

Monday 13th February @ 9:11am

Bloomberg kicks off the week in fine style this morning in a report that puts Apple, conspiracy theories and banking in the same sentence. The Australian banks have now abandoned their attempt to work in concert to block Apple Pay. In their final submission to the country's competition regulator, the banks said that they will with Apple as long as the tech company...MORE

Friday 10th February @ 10:05am

Chile-based Lafferty correspondent Paul Griffiths writes to challenge our story yesterday on the amount of data produced daily, which we put at 2.5 exabytes (or 2.5 quintillion bytes, or 2.5 billion billion bytes, if that's an easier number to wrap your head around). Paul has been using a similar figure for several years — so if the amount of data is growing, surely that figure should be higher by now? Well, not necessarily. Cisco computes that by the end of last year, the...MORE

Thursday 9th February @ 12:06pm

"That chip on your credit card isn't stopping fraud after all," at least according to Fortune magazine. The report, citing Javelin Strategy & Research, notes that the success of chip and PIN in preventing in-store fraud has driven more financial crime online, with cybercriminals responsible for a 40 percent rise in card-not-present fraud . Fraud driven by online identity theft meanwhile rose 16 percent over the previous year, with total credit card fraud rising by $700 million...MORE

Wednesday 8th February @ 9:11am

Brexit may result in 30,000 jobs and 17 percent or $1.9 trillion of British banking assets moving to other EU countries, according to a new study from Brussels think tank Bruegel. "At a minimum, it is expected that the new EU27-based entities will need to have autonomous boards, full senior management teams, senior account managers and traders, even though much of the...MORE

Tuesday 7th February @ 9:10am

In blockchain news... Data released by the Reserve Bank of India shows a ten percent month-on-month drop in digital payments as Indians return to using cash . "The number of digital transactions fell from 1,027.7 million in December to 922.9 million in January," reported the Business Standard . Yet, within the data, some interesting patterns emerged;...MORE

Monday 6th February @ 10:29am

Italy's UniCredit has reached an agreement with trade unions that will result in a "generational shift" at the global bank, replacing thousands of older staff with a younger generation. Finextra reports that the bank will achieve this through a voluntary redundancy programme, with the firm committing to hire 1,300 younger workers to implement broad digitalisation programmes. Italy's largest bank had already announced job losses in the region of 14,000 workers, along with...MORE

Friday 3rd February @ 9:17am

US president Donald Trump will today begin signing executive orders to start dismantling Dodd-Frank regulations . Among the provisions targeted are the Volcker Rule, which prevents banks from engaging in proprietary trading, and the Consumer Financial Protection Bureau. Steven Mnuchin, who spent 17 years at Goldman Sachs and is now the Treasury Secretary, has pledged to remove the Volcker Rule. According to former Goldman...MORE

Thursday 2nd February @ 10:44am

The Lafferty News team has just returned to base following a sensational Lafferty Councils event in Cape Town last week, where we confirmed that there is indeed something special about South African banking . Regular followers of this publication will know that the country's banks have stood out in Lafferty Bank Quality Ratings, with Capitec and Barclays Africa at one point taking first and second place. So what's behind the allegations by supporters of President Zuma that banks are...MORE

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