Five major global banks have been found to have violated UK competition law by sharing sensitive information while trading British government bonds in the aftermath of the financial crisis, according to preliminary findings from the UK’s Competition and Markets Authority (CMA). Citigroup, Deutsche Bank, HSBC, Morgan Stanley, and Royal Bank of Canada had traders who […]
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Nexi, Worldline and other European PayTech companies may be in a better position than Visa, Mastercard and Paypal to reap the benefits of the $139 trillion market for account-to-account (A2A) payments that run outside the card networks.
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Blockchain is seen by many companies as a magic device that will validate all their data and will provide them with a competitive edge. The truth is that most of the projects started up to date have encountered difficulties to make it a reality, let alone, profitable.
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A Deutsche Bank-Commerzbank deal have been a few years in the making, but after the latest comments from German regulators and politicians, it seems that the deal may be closer. The lenders overlap in retail and corporate banking, but the combined market share isn’t likely to raise any antitrust concerns. Yet, is it the merger of two failing banks the solution to create a good one?
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Banks including Credit Suisse, UBS, Barclays, Credit Agricole, Bank of America and Deutsche Bank may face more than $6 billion in fines if they are found guilty of manipulating forex rates, SSA bonds and European Government Bonds in three different EU antitrust probes. The U.K. also opened a separate probe over anticompetitive practices in the bond market.
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Payments are probably the first market where start-ups successfully challenged traditional banks. Companies such as Monzo, Revolut, TransferWise, Stripe or HiFx quickly gained market share for local and international payments offering low or no transaction fees. These new services obliged banks to adopt new digital strategies to remain competitive. Now, lending and wealth management are the next sectors where startups and digital platforms are quickly stepping up.
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