Mobile banking to overtake high street branch visits in two years

Mobile banking is set to be more popular than visiting a high street bank branch within two years, according to new forecasts, highlighting how technology is transforming the way Brits bank. The tipping point will arrive in 2021, according to analysis by the consultancy Caci, when the number of customers regularly using branches will be overtaken by those using apps. […]

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Corporate debt could be the next sub-prime crisis, warns banking body

Corporate borrowing poses a danger to the global financial system and could trigger a crisis in the same way US sub-prime mortgages sparked the 2008 banking crash, the organisation that represents the world’s central banks has warned. Citing the US and the UK as the worst offenders, the Bank of International Settlements said in its annual health check of the […]

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Dalio Says Something Like MMT Is Coming, Whether We Like It Or Not

Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes. Central banking as we know it is on the way out, and it’s “inevitable” that something like modern monetary theory will replace it, billionaire investor Ray Dalio said. The doctrine, known as MMT, says that governments should manage their economies through […]

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Metro’s share price tanks after second cash call in seven months

Metro Bank shares plunged to fresh lows on Wednesday, after the lender shocked markets with plans to raise a further £350m just months after its last cash call. The high street challenger also revealed that it is under investigation by City regulators, the Financial Conduct Authority and Prudential Regulation Authority, over a major accounting failure first disclosed last month. The […]

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House banking panel to grill Wells Fargo CEO solo

Wall Street’s six biggest banks to testify before House Financial Services Committee in March: Report “Bulls & Bears” panel on the report that Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo will testify in front of the House Financial Services Committee in March. Wells Fargo’s CEO Timothy Sloan is expected to testify solo in front […]

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Banks could easily stumble over Brexit and buybacks

There is an old Lloyds Bank television commercial featuring those darlings of the 1980s sitcom, Jan Francis and Nigel Havers. Francis’s character has just bought a house from Havers and the ad has the pair bumping into each other at the supermarket checkout. The encounter prompts Francis to give Havers a few unsolicited personal finance lessons, by explaining how her […]

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Online lender OnDeck quarterly profit nearly doubles

(Reuters) – Online lender OnDeck Capital Inc on Tuesday reported quarterly adjusted profit that nearly doubled, as the online lender dispensed more loans and earned more interest income. Adjusted net income rose to $15.9 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with $8.1 million, or 10 cents per share, a year earlier. reut.rs/2Ia0Euh […]

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