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Tuesday 26th March @ 10:48am

Apple has entered the banking business with the launch of a credit card yesterday. Apple flagged several weeks ago that it had a credit card offering on the way, which it unveiled yesterday as a collaboration with Goldman Sachs, which will issue the card, and Mastercard. The Apple credit card will take physical form and also integrate tightly with the iPhone and Apple Pay. Apple has distanced itself from the voracious data gatherers at Facebook and Google with its insistence on...MORE

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Monday 25th March @ 9:15am

Britain is now in full crisis over Brexit and we must acknowledge that the UK public — along with its US counterpart — has been atrociously served by a cowed press over the past couple of years. After two years praying for a Mueller dividend, the New York Times and much of the rest of the US press should hang its head for wasting journalistic resources and readers' time on the pursuing collusion fantasies against Donald Trump, who has been exonerated. From The New York...MORE

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Friday 22nd March @ 10:17am

Just as mobile wallets are driving adoption of digital currencies and digital assets, banks are going to drive adoption of stablecoins, digital currencies tethered to central bank currencies, aka stablecoins. Last week it was JPMCoin. The big news this week was IBM's offering of a Blockchain network and the ability for traditional banks to issue stablecoins based on dollars or central bank currencies. The notion that the private banking system, though a private blockchain...MORE

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Thursday 21st March @ 9:42am

In the heady days of 2018, Wirecard reached a valuation of $21.3 billion, smashing past Deutsche Bank. By September it had replaced Commerzbank in Germany's DAX Index. By March 2019, Deutsche and Commerzbank were in merger talks and Wirecard had shed a third of that market value. German regulators have behaved appallingly in the matter, taking the side of plucky Wirecard against the beastly FT, which this morning suggests that Wirecard COO Jan Marsalek had oversight of the...MORE

Wednesday 20th March @ 8:52am

Part of Instagram's attraction is that its one billion users stay inside the app. There's no straight way to link to another website — such as eBay — from Instagram. But the visual-first nature of Instagram has proven irresistible to marketers, and now Instagram steps closer to an e-commerce site by providing for in-app purchases. "Merchants will only get the details necessary to fulfill an order, including contact info and address, but not your actual payment...MORE

Tuesday 19th March @ 10:45am

Last week we observed how the Brexit process is uncovering significant differences between the legal systems of the UK and the EU. Reporters in Brussels were said to have cried out in surprise when the grandstanding Speaker of the Commons John Bercow announced on Sunday that Theresa May would not be allowed to bring forward her unchanged Brexit agreement for a third time. The announcement threw the Brexit process into even more chaos. Bercow cited a precedent from 1604. Some political...MORE

Friday 15th March @ 9:03am

This is what we're reading this morning on digital finance and banking:Visa Europe will have to implement changes following last year's outagePundits agree that credit cards need a digital refresh

Thursday 14th March @ 1:33pm

Little wonder that EU regulators are looking at Mark Zuckerberg's plan to integrate Messenger, Whatsapp and Instagram with some trepidation. Yesterday, reports came in from around the world that functionality was missing from services, and in some cases, users used to signing in to other services via the Facebook login were unable to proceed. "Facebook and Instagram appear to be partially down for some users around the world today," wrote The Verge yesterday. "While you can...MORE

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Wednesday 13th March @ 9:08am

A hard Brexit it will be, as things now stand. Lafferty's Brexit Council met in Westminster yesterday as the House of Commons was getting ready to vote on the latest but essentially unchanged offering from Theresa May, which the Commons promptly rejected by a margin of 145. This, remember, is the deal already negotiated between the UK and the EU. The Prime Minister had hoped to limit that loss to 100 seats. Today the Commons will vote on whether to prevent a no-deal, which...MORE

Tuesday 12th March @ 3:49pm

The Lafferty news team is in Westminster today for the Lafferty Brexit Council, covering developments as they happen at the UK Parliament. Lafferty Daily briefing will return...MORE

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Monday 11th March @ 1:45pm

Being conservative is a good thing for a bank, but banks are generally so far behind the cultural curve that they usually have the opportunity to avoid the mistakes of other industries. Now that banks are establishing that their biggest threat comes from the big tech sector, they are reacting by — yes, you guessed it — copying the mistakes made by big tech companies, such as thinking that table football and free juice will attract millennial talent. "Seventy-seven percent...MORE

Friday 8th March @ 9:57am

The equivalent of belatedly shutting a country-sized barn door, banks in the Nordic countries have launched a massive recruitment drive to hire compliance professionals. As a compliance worker based in Copenhagen told Reuters: "We've become the new 'business rock stars'". The delusional compliance professional needs to up his game: DJ D-Sol over at Goldman knows that kids these days are into banging EDM, not dad rock. "He saw a 50 percent jump in...MORE

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