Norwegian banks look well placed to deal with the twin challenge of falling oil prices and a Covid-19 related contraction of GDP, thanks to their solid earnings capabilities and sound solvency positions. “With their solid profitability and sound solvency positions, Norwegian banks have capacity to absorb higher loan losses and…
Finance
‘Coronomics’: How a Pandemic Can Impact World Economics
In response to the developing coronavirus pandemic, Professor Miltos Makris of the University of Kent’s School of Economics explains the current and potential implications for the world economy. Explainer: covid-19 and Worldwide Recession ‘The almost simultaneous lockdown of several countries will have a major negative impact on economic activity…
Coronavirus Lockdown: Massive Surge in The Use of Fintech Apps
Coronavirus-triggered social distancing, isolation and lockdowns have driven-up the use of financial apps in Europe by 72 per cent in a week, reveals deVere Group, one of the world’s largest independent financial advisory organisations. The sharp increase in the use of financial technology comes as the world readjusts to life…
Scam Alert: Criminals Using Covid-19 Smishing Text Messages To Target Consumers
UK Finance is warning consumers to be on the lookout for “smishing” text message scams from criminals exploiting the coronavirus outbreak. Smishing is when criminals use text messages impersonating other organisations to trick people into giving away their personal and financial information or money. These scam texts often claim to…
The Road to True Digital Bank
Banking and finance are undergoing fast digital transformation, the replacement of legacy systems and novel tools for back-end and customer-facing tasks. The concept of a fully digital bank is one of the major paths envisioned for modern financial institutions. The term “digital bank” may sound familiar, although at present time…
Equities Succumb To The Coronavirus
Equities have finally succumbed. Until Friday, global markets were still hovering around their January highs. But markets fell back 1% or so on Friday and the UK and European markets are down more than 3% this morning. The recent spread of the virus outside of China,…