Friday April 6, 2018 –
Here are the new and noteworthy stories we have been following this week.
Barclays is first UK bank to complete £1bn ring-fence to split retail lending from investment banking
Barclays become first UK bank to separate retail and investment banking ahead of regulatory requirements.
Menlo Ventures is making its first real bet on crypto as Bitpay raises $40 million
Bitpay raises $40 million to fund Asia expansion.
https://www.recode.net/2018/4/2/17187616/menlo-ventures-bitpay-40-million
Wirecard and Crédit Agricole Payment Services Sign a Next Generation Digital Payment Partnership Agreement
Wirecard and Crédit Agricole Payment Services together launch a digital payment services in France and other European countries.
Goldman’s Latest Push: Managing Cash for Big Companies
Goldman Sachs is planning a move into commercial banking focusing on deposit accounts and cash management and other corporate banking products.
https://www.wsj.com/articles/goldmans-latest-push-managing-cash-for-big-companies-1522778718
Banks rush to turn Japan cashless before legal change attracts tech giants
Japanese banks are aggressively moving to electronic and digital payments ahead of regulatory changes that will open up the banking and payments market to technology firms.
RBI asks payment system operators to store data in India within 6 months
The Reserve Bank of India wants payments data to be store din India.
SoFi Plans to Start Rolling Out Deposit Accounts Next Month
SoFi is planning to offer checking accounts and debit cards as it digs deeper into personal financial services.
Smaller Subprime Auto Lenders Are Starting to Fold
A growing number of small subprime auto lenders are closing or shutting down after loan losses and slim margins spur banks and private equity owners to cut off funding.
Amazon: Alexa Wants Your Person-To-Person Payments
Amazon is considering P2P payments via Alexa.
https://www.barrons.com/articles/amazon-alexa-wants-your-person-to-person-payments-1523027143
