Ep. 166. News: ‘Tis the Season for Open Banking
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First up on today's show, Alibaba's Ant Financial has abandoned a $1.2bn takeover of MoneyGram. So what were the US regulator's concerns over national security and personal data. Continuing the regulatory theme, we explore open banking and traditional banking. The guys discuss why open banking might threaten the survival of traditional banks. Plus, new research suggests that consumer awareness of open banking is at a major low, amidst suggestions that in 2018 you'll pay through Amazon and Facebook. Next, we ask what is MiFID II and how will it increase transparency and bolster investor protection? The guys discuss why the credit card fees ban has backfired, and why consumers face new 'service charges' and higher prices. Is it right that by 'fat-cat Thursday', top bosses' pay after just three days overtakes workers' average annual salary? P2P payments are back, so is it true that Apple Pay Cash won't be the death of Venmo? And if not, could Zelle do it? And in the world of banking and savings apps, the guys…