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Morning briefing

Here's a useful summary of what the payment bank licences in India will allow, and how it may assist the unbanked.

As Apple prepares to launch its iPhone based Apple Pay payments operation beyond the US and UK, we follow the ongoing story of how the Canadian and Australian banks are positioning themselves, frequently claiming that they have already been moving faster than Apple to provide their customers with mobile services.

Several years ago, this reporter wandered into a Deutsche Bank branch of the future to open an account, and promptly left, thinking that it was a coffee shop rather than a bank. Now this style of branch is becoming popular. Alberto Pasquini touched on this in his presentation in London at Banking Innovators, observing how this informal setting can help a bank integrate into its community, and present opportunities for personal interactions removed from the more formal setting of the bank manager's office.

Novo Banco has yet to find a new owner after talks collapsed reportedly involving Anbang Insurance Group, headquartered in Beijing. The bank is Portugal's third-largest bank in terms of banking assets and fourth in number of credit cards in issue. Novo Banco was created by the Portuguese authorities after Banco Espírito Santo collapsed in July 2014.

It is not often that the headlines feature hacks involving Apple products: this week's news that almost a quarter of a million Apple devices worldwide have been hacked turns out, on closer examination, to only affect 'jailbroken' [ie, radically customised] iPhones. Although the revelations come on the eve of a new product launch round in coming weeks, this is not bad news for Apple: if anything it is good news, demonstrating that users may be better off leaving their devices more or less as Apple wants them.

Is there a growing connection between luxury and digital business? While banks have mostly decided that digital banking is for the masses, the move of former head of Apple Beats1 Ian Rogers to French luxury group LMVH suggests a crossover of digital and luxury markets. The question is: who listens to Beats1?

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