UK’s CMA says Lloyds Bank, TSB, AIB and HSBC breached Retail Banking Order
The CMA will continue to monitor the compliance of the four banks.
The CMA will continue to monitor the compliance of the four banks.
Open banking payments increased 9.3% between June and July this year.
The independent survey was carried out by Ipsos and BVA BDRC between July 2022 and June 2023.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The results are from a survey carried out between July 2021 and June 2022 by market research firm Ipsos.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The challenger informed the CMA it had failed to send transaction histories to more than 13,000 customers.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
CMA finds no competition issues with Visa’s mega-deal.
The UK’s CMA is looking into potential anti-competitive implications.
The number doubled in the last six months.
UK’s Competition and Markets Authority poking around.
Competition and Markets Authority checking things out.
Asking banks to publish customer ratings.
Barclays failed, for a second time, to send annual reminders to PPI customers.
Cardtronics’ $460-million purchase of rival ATM provider DirectCash Payments (DCP) has finally been approved by the UK’s Competition and Markets Authority (CMA). Back in May 2017, Cardtronics had to offer undertakings due to competition concerns, and initially didn’t. The CMA said at the time: “As Cardtronics has not offered these undertakings, the CMA will now […]
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 offer information on how long it takes to open an account; how long it takes to replace a lost, stolen or stopped debit card; and the number and […]
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 payment systems. As first reported in May, the PSR aimed to get Bacs Payment Schemes (BPSL), Cheque and Credit Clearing Company (C&CCC) and the Faster Payments Scheme (FPSL) […]
The UK’s Competition and Markets Authority (CMA) has finally decided that Intercontinental Exchange (ICE) should sell Trayport to preserve competition in wholesale energy trading. As Banking Technology reported in August, the CMA “provisionally” found ICE’s acquisition of Trayport may give rise to competition concerns. After lengthy investigation, CMA says: “As a result, ICE will now […]
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 API specifications. The payments initiation API will enable third parties to set up secure payments on behalf of customers and, once authorised by the customer, submit the payment for processing. […]
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 published its 766-page final report on the retail banking market and its open banking goals. At that time, it said it will offer overdraft users the opportunity to […]
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 Technology reported in January, the CMA accepted undertakings from the Bacs payment scheme, which owns and manages CASS, that commit it to delivering […]
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 closer. As Banking Technology reported in August, the CMA unveiled its plans to make banks “work harder for customers” and ensure the “benefits of new technology are […]
As with any revolution, open banking will have winners and losers. How to stay competitive in the digital era?
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 investigation within a year.
The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns.
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 proposed by the UK’s Competition and Markets Authority (CMA) as part of its investigation into retail banking. Christopher Woolard, executive director of strategy and competition at the FCA, […]
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 operator of exchanges and clearing houses in the trading of European utilities. It has its own proprietary software which allows trading of energy commodity and utility derivatives […]
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 on its retail banking market investigation concludes that “older and larger banks do not have to compete hard enough for customers’ business, and […]