It’s a troublesome time for banks. And it’s not just because of the proposed bank levy. Banks are ripe for disruption and the disrupters are coming.
Neo-banks are popular in the UK and the US. Eric Wilson is at the helm of Xinja, a neo-bank that allows users the security and top-notch customer of the real deal but everything is within an app.
If that wasn’t enough of a challenge to the banks, Alex Pollak explains the Revised Payments Service Directive that’s already set for the UK and Europe from next year. It forces banks to open their platforms to non-bank competitors and it’s sure to make it’s way here before long.
Now that Fairfax has a for sale sign, it seems more mergers and acquisitions are popping up on a daily basis, but is it merger mayhem or all in our minds?
And using negative gearing as an investment strategy sounds like a great idea (think of all those tax cuts) but property expert Ben Kingsley says it’s just crazy.
Alan Kohler, The Constant Investor, 25 May 2017