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UK to launch competition investigation into retail banking
The UK retail banking market lacks effective competition Essential parts of the UK retail banking sector lack effective competition and do not meet the needs of personal consumers or SMEs, according to...
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Banking competition, divestments and the rise of the digital challenger banks
Rob Batey is a consultant in financial services at Certeco The Competition and Markets Authority has recently embarked on a full investigation into the so-called competitive stranglehold the four big...
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UK watchdog pushes for open banking revolution
The UK’s Competition and Markets Authority (CMA) has unveiled its plans to make banks “work harder for customers” and ensure the “benefits of new technology are fully exploited”. The CMA’s final report...
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UK competition watchdog cools ICE’s Trayport acquisition
The UK’s Competition and Markets Authority (CMA) says it has “provisionally” found Intercontinental Exchange’s (ICE) acquisition of Trayport may give rise to competition concerns. ICE is the largest...
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UK competition watchdog tells ICE to sell Trayport
The UK’s Competition and Markets Authority (CMA) has decided that Intercontinental Exchange (ICE) should sell Trayport to preserve competition in wholesale energy trading. As Banking Technology...
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UK’s Financial Conduct Authority calls for current account competition
Christopher Woolard, FCA The UK’s Financial Conduct Authority (FCA) says it will take action to improve competition in the current account market. This follows a series of recommendations which were...
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CMA voices concerns over VocaLink’s takeover by Mastercard
CMA is not happy The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns. Mastercard already owns and operates credit and...
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Top fintech stories this week – 6 January 2017
Think Clearly, Bank Clearly Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017 from everyone at Banking...
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CMA comments on current account switching plans & VocaLink’s takeover by...
The Competition and Markets Authority (CMA) in the UK has accepted undertakings from the Bacs payment scheme that commit it to delivering the improvements required by the CMA retail banking market...
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Viva la open banking revolution!
CMA paves the way for open banking revolution How to stay competitive in the digital era? Perry Krug, principal architect at Couchbase, explores. In August 2016, the UK’s Competition and Markets...
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UK watchdog driving open banking revolution
Revolution in the UK? The UK Competition and Markets Authority (CMA) says its banking “final order” is giving people greater control over their money and reckons the open banking revolution is getting...
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Diebold Nixdorf in major deal with Russia’s Post Bank
Post Bank automates cash services with Diebold Nixdorf Russia-based Post Bank, a joint venture of VTB Group and Russian Post, has purchased 3,200 self-service cash recycling systems (plus software and...
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CASS plays Casanova to CMA’s current account commitments
The UK’s Current Account Switch Service (CASS) says it meets one of the commitments set out in response to the Competition and Markets Authority’s (CMA) final report into retail banking. As Banking...
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Competition concerns cloud Cardtronics ATM coalition
UK watchdog investigates ATM merger Cardtronics’ purchase of rival ATM provider DirectCash Payments (DCP) faces investigation by the UK’s Competition and Markets Authority (CMA) – unless it can address...
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Cennox acquires Diebold UK & Ireland business
“Hugely excited” by the Diebold UK & Ireland acquisition As a result of the ruling of the UK’s Competitions and Markets Authority (CMA), Diebold Nixdorf is shedding some of its business. Diebold UK...
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UK watchdog pushes hard on open banking plan
Alasdair Smith, CMA inquiry chair The UK’s Competition and Markets Authority (CMA) is ramping up its efforts for open banking within the nation’s retail banking scene. As reported in February, the CMA...
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UK watchdog reveals rules to fuel open banking
Open banking rules UK Open Banking, the implementation entity set up by the UK’s Competition and Markets Authority (CMA), has released its accounts and transaction information and payments initiation...
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Top fintech stories this week – 7 July 2017
Packed with fintech goodness Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Banking Technology July/August 2017 issue out now All the fintech goodness the...
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UK watchdog backs PSR plan for merger of three payment bodies
Let the bodies hit the floor… The UK’s Payment Systems Regulator (PSR) has got approval from the Competition and Markets Authority (CMA) for its plan for the consolidation of the operators of three...
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UK regulator balances the looks for current accounts
Sings go compare… The UK’s Financial Conduct Authority (FCA) has launched proposals to help people compare the service levels for personal and business current accounts. The FCA proposes that firms...
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