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Friday 18th May @ 9:24am

Swedish payments business iZettle will abandon plans for a billion-euro plus IPO after PayPal offered to acquire the company for $2.2 billion. PayPal will add iZettle to its list of recent acquisitions, which includes remittance business Xoom, digital payments business Braintree and paysharing app Venmo. The gentlemen in jeans in this picture are (l-r) iZettle co-founder Jacob de Geer and PayPal's chief executive Dan Schulman...MORE

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Thursday 17th May @ 10:13am

The Lafferty News team reports from Shenzhen on day one of the International Retail Banking-Fintech Forum [livestream], where Tencent's deputy general manager of Financial Technology (FiT) Tim Leung delivered a talk on how it is approaching fintech. Mr Leung reiterated the company's stance on banking, maintaining its platform identity: "Banking, we're not so good on. Customer internet experience is where...MORE

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Wednesday 16th May @ 11:29am

The Lafferty team is in Shenzhen this week for the China 2018 edition of The International Retail Banking & Fintech Forum in collaboration with Tencent and Consulting, China, publishers of Retail Banking magazine. The event starts tomorrow 17 May at 8:30am local time in Shenzhen, which is 1am UK time, and you can watch the livestream here. Check out the full line-up of...MORE

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Tuesday 15th May @ 10:36am

France's second-largest bank, Crédit Agricole, reported a rise in net income of 1.27 percent (to €856m, or $1.03bn), while revenue rose 4.4 percent (to €4.91bn), in its latest quarterly results. The bank's domestic retail banking operations consist of a network of regional banks and a subsidiary, LCL, focused on...MORE

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Monday 14th May @ 10:12am

With Deutsche Bank about to give up in America and go home, Goldman Sachs will compound the Frankfurt-based bank's misery by challenging Deutsche's glorious renaissance in German retail banking by offering Goldman's consumer bank Marcus to Germans [paywall]. Yes, Marcus is about to open its doors in the UK, and then move on to Germany, where regulator Bafin is handing out licences like candy. Goldman plans to...MORE

credit cards, banking, money, finance
Friday 11th May @ 11:01am

From New York, the Wall Street Journal is reporting that Goldman Sachs and Apple are finalising plans to launch "a card designed to boost Apple Pay" [WSJ paywall]. A joint credit card from the two seems a logical marriage given that Apple is moving more into services as hardware sales plateau and Goldman, through its digital finance platform, Marcus, has trained its sights...MORE

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Thursday 10th May @ 10:30am

Ten years later, RBS is finally extricating itself from the wreckage of the global financial crisis, as it looks to reach a $4.9 billion settlement with the US Department of Justice (DoJ) over the sale of risky mortgage products during 2005 and 2007. A settlement means the DoJ will end its investigation and "is the price we have to pay for the global ambitions pursued by this bank before the...MORE

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Wednesday 9th May @ 10:40am

In Italy, Intesa Sanpaolo has registered its best first-quarter profit in ten years to defy analyst expectations with an almost 40 percent jump. The bank recorded €1.25 billion ($1.48bn) in profit for the opening three months of the year — up from some €900 million on 2017's corresponding quarter. This sparked claims from...MORE

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Tuesday 8th May @ 9:59am

In the UK, a potential super-challenger bank is in the offing as Virgin Money executives weigh up a merger proposal from CYBG, owner of Clydesdale Bank and Yorkshire Bank. Should the merger push through, it could form one of the largest challenger banks in the country with around six million customers. It is not yet clear whether the deal will go through as the Virgin Money board mulls the offer. Last week, UK Finance board member Paul Lynam...MORE

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Friday 4th May @ 10:05am

HSBC's Q1 pre-tax profit has fallen four percent year-on-year, from $5 billion to $4.8 billion — marking John Flint's first quarterly announcement since becoming chief executive officer of the London-headquartered bank. Despite an increase in revenue, HSBC was held back due to a 13 percent rise in operating expenses (of $9.4bn) which the bank attributed to "investments to grow the business and enhance our digital capabilities"...MORE

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Thursday 3rd May @ 10:36am

Mastercard has taken another big step towards bringing biometric cards into everyday life. The card scheme has come up with a way to more easily allow people to register their fingerprint on biometric cards — from the comfort of their homes, no less. The card now has "a sleeve to register fingerprints so people don't have to make a trip to a bank branch", said Bob Reany...MORE

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Wednesday 2nd May @ 10:11am

Standard Chartered has posted $1.26 billion in pre-tax profits for the opening quarter of the year as it met analyst expectations. The London-headquartered firm marked a 20 percent growth in profits before tax thanks to increased demands for loans. Operating expenses increased, but so too did operating revenue, while the bank also announced that it is scheduled to meet its cost efficiency target before the year...MORE

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