Bank of England Warns of Risk From Rise of Non-Bank Players

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(Bloomberg) — The Bank of England highlighted the potential risk of non-bank players in amplifying volatility following an analysis of the ‘dash-for-cash’ in financial markets in March as the Covid-19 crisis swept the globe.

The Financial Stability Report noted the rise of non-banks, including big investors like pension funds, investment funds like real estate investment trusts and money market funds, as holding key roles in financial stability. Had central banks not intervened in March, the outcome could have been much worse, according to the report.

“With money market funds already experiencing outflows, further stress would have also raised the possibility of suspensions, which could have directly impacted the ability of some large companies and other investors to access cash,” the report noted.

For several years, regulators including the BOE have been wary of potential risks building up in the range of sectors all classed as “shadow banking”. The credit market

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July Jobs Report Satisfies Everyone & No One

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Stock image of worried man looking at numbers (Photo: Shutterstock)

Investors who expected that the July jobs report would compel congressional officials to avoid a collapse in negotiations on a new coronavirus relief bill were met instead with data that seems likely to entrench Democrats and Republicans in their positions.

Just consider the headline number: U.S. payrolls increased by 1.76 million in July. On the one hand, that beat estimates for a 1.48 million gain, but it’s also down from a 4.79 million pickup in June and 2.72 million advance in May.

Is this a sign that the economic recovery is better than expectations or an indication that progress is sputtering?

Either way, the jobless rate remains in the double digits, which would seemingly bolster the argument of Democrats that Congress needs to extend the $600-a-week supplemental unemployment insurance payment from the last stimulus.

But then there are the details of the report.

Aid for state and local

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How Chat Banking is Transforming Financial Services Customer Experience

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The banking industry has seen a number of key technology advancements over the last several decades, as it has moved away from a brick-and-mortar strategy toward a more self-service-driven model.

• In the 1970s the rise of personal computers provided an alternative to traditional banking, though technology was still in its infancy
• In the 1980s, technology started to evolve, and ATMs were introduced – in addition to computer banking – as high-tech solutions to meet the needs of customers on the go
• The introduction of mobile phones in the 2000s brought consumers the ability to conduct mobile banking, accessing their account information and completing transactions on the go

So, the question we ask ourselves now is what’s the next step in the evolution of the banking customer experience?

The introduction of chat apps

The rapid evolution of smartphone technology and the rise of connected devices has led to

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