- RBS nearly doubles profits-to change name to NatWest Group
- Barclays reports "another year of progress"
- ABN AMRO reports net profit of EUR2,046m for 2019
- Revolut announces the launch of open banking for all UK retail and business customers
- Bitcoin's price jumps to $10,300–what’s the REAL driving force of the rally asks deVere's Green?
- SAS comments on FinTech as an opportunity for all banks
- A view on the upcoming PSD2 deadline from Jason Tooley of Veridium expired
- ABN AMRO Ventures investing in Fenergo expired
- Swedbank, SIA, and TietoEVRY partner expired
- Fintainium appoints three industry executives expired
- Paysafe appoints Unni as Chief Technology Officer(CTO) expired
- New Bank of Scotland £20 notes raise £112,590 for Mental Health UK charity 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.