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Morning Briefing

Morning Briefing

Bendigo Bank and ANZ have joined Matchi, the global platform that matches banks and fintech startups. The news follows KMPG's announcement last week that it would partner with Matchi to allow its clients access to the platform.

However, Jost Stollman, founder of Tyro Payments, cautioned fintech players against becoming too close to the banks — and said they were better off as 'real disruptors'. "These are the entrepreneurs who do not talk about exit, and people who don't talk about partnering with the incumbents," Mr Stollmann said. "These are the ones that say, we are going to put them out of business."

The Sunday Times reported that Spanish bank Sabadell is looking to create a powerful challenger to the UK's big four by mounting takeover bids for established banks, reportedly including Clydesdale and RBS offshoot Williams and Glyn. The Co-operative Bank was also named as a potential takeover target.

Wells Fargo generates about 55 percent of its income from its community banking operations, says Barrons Blog, which notes that Wells Fargo is now looking like a bargain. "Few companies have the kind of low-cost and low-risk funding stream of Wells Fargo, which can fund its entire loan book and then some with its $1.2 trillion worth of deposits, which cost the bank only eight cents for every $100 as of the end of the second quarter," said Barrons. "Meanwhile, the bank's $889 billion in loans yield an average of 4.2%."

The National Bank of Abu Dhabi is offering mortgages in Egypt to Egyptian expats based in the Gulf nation as it bids to grow its lending business through expansion into emerging markets. The slowdown in oil prices has put pressure on other UAE businesses to deliver income.

"We are also growing fairly rapidly in retail in the region," said NBAD chief of consumer banking Suvrat Saigal. "We have actually grown market share, we have grown the retail area. We are doing several steps, like launching of the mobile banking platform, like chip and PIN and like our investment in front-line distribution."

UBS hired photographer Annie Liebowitz to shoot portraits of entrepreneurs for its new branding campaign, which will be 70 percent digital. "We conducted a test campaign in the first quarter of this year, and 80 cent of those who came in did so via mobile. We just went where our clients are. Digital brings a potential consumer within one click from more information about our services, from more content, from contact with a banker. That shouldn't be underestimated," UBS CMO Johan Jervoe told City AM.

Automotive News reports that Opel is to move into online retail banking, hoping to use consumer deposits to finance up to one-third of its refinancing needs. Opel is a unit of General Motors and relaunched its own bank following GM Financial's repurchase of financing businesses it sold during the financial crisis.

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