- Lenders provide 650,000 UK businesses with £27.5bn in finance through COVID-19 schemes
- UK lenders approve almost 1.5million payment holidays on credit cards and personal loans
- Scope says UK banks to manage through challenging times with regulatory encouragement
- Latest Lloyds Bank Business Barometer says business confidence falls to record low as economic shutdown continues
- Mastercard says 78% of all transactions across Europe are now contactless
- Research indicates 56% of consumers more likely to use contactless as their preferred spending method when thinking about future trips abroad
- Auriga's Mark Aldred comments on the future need for ATMs in the UK expired
- Reinhart appointed as the new Vice President and Chief Economist of the World Bank Group expired
- S&P Global publishes article headed "Islamic Finance And ESG: Sharia-Compliant Instruments Can Put The S In ESG" expired
- High-income households willing to take on riskier post-COVID-19 investments, says GlobalData expired
- Moneyfacts says fixed bond rate gap tumbles as one-year attracts expired
- Northpointe Bank named a top-performing bank in the US again by the ICBA expired
11th February 2020
Scope says cross-border bank mergers in Europe are not such a grand idea
Scope says that many market actors see cross-border bank consolidation as a panacea for cutting costs and strengthening revenues. Euro area supervisors encourage it as a step towards a true single market. But this may not be the right step at a time when competition is mostly via digital channels and when a new open banking environment emerges, spurred by the implementation of PSD2. Acquiring new clients and offering new products through open digital platforms may be the way forward, rather than merging with or acquiring large legacy banks in other countries.
Also, national political sensitivities will continue to remain a major hurdle for full financial integration across the euro area, despite the existing regulatory and legal framework.