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GLOBAL BANKING EXPERTS TO SHARE INSIGHTS ON THE FUTURE OF PAYMENTS AT THE UK’S LARGEST FINANCIAL TECHNOLOGY EVENT

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GLOBAL BANKING EXPERTS TO SHARE INSIGHTS ON THE FUTURE OF PAYMENTS AT THE UK’S LARGEST FINANCIAL TECHNOLOGY EVENT

PayExpo Europe

7 & 8 June 2016, ExCeL, London

www.payexpo.com/europe

Over 2,000 senior executives from the world’s leading financial institutions will gather at London’s ExCeL for the UK’s largest payments event, PayExpo Europe. Held on 7 and 8 June, the event will unveil the future of financial technology, payment innovation and digital banking.

With endless speculation about the various iterations new banking platforms will take, the comprehensive two day conference and exhibition will feature unique insight on key issues ranging from the rise of ‘challenger’ banks to robotics in financial services.

Key representatives from Citibank and Danske Bank will contribute to a dedicated forum, The Future of Banking, where expert speakers will discuss their predictions for new banking systems and transaction technology. Delivering a metrics-driven speaker session, Jane Zavalishina, CEO at the Yandex Data Factory, will discuss ‘Big data and what bankers are doing wrong’. Richard Wagner, Chairman of the Emerging Payments Association will present his vision for digital banks looking to increase market share.

A compelling panel discussion will provide global perspectives on the international market, with Miguel Valero, Director Banca Digital at Banorte, providing a South American case study. Making a highly anticipated contribution, Usman Quereshi, Senior Technology Consultant at the Bank Pasargad, will explain Iran’s success in digital banking. Forecasting the demise of traditional banking institutions, Tom Blomfield, CEO at Mondo, will analyse why established banks will become redundant in the digital era.

A new feature for 2016 is the Banking Innovation Hub. This dedicated strand will showcase leading case studies for banks deploying advanced payments technologies. Topics to be discussed include how traditional banks can keep pace with ‘challenger banks’ and how newer banks can evolve while avoiding risk.

The event features five conferences: Market Regulation and Evolution, Security Authentication and Biometrics, Future of Banking, Connected Commerce and Analytics, Loyalty and Localisation while six new interactive workshops cover the latest in new payments innovations.

A wide ranging exhibition will showcase the latest payments technologies underpinning all aspects of omni-channel distribution including: Amazon, The Bancorp, Worldpay, FIS, Tieto, Currency Cloud, Web Shield, Carta Worldwide and Compass Plus.

PayExpo Europe is also working to connect banks, financial organisations and investors with the innovative start-ups who are developing new game-changing technology. As well as the comprehensive conference, the event will feature Payments Dragon’s Den where FinTech start-ups pitch their new ideas live and The Payments Accelerator where up-and-coming companies will be on show.

Michael Seaman, event director at PayExpo Europe, comments:

“As the largest event of its kind in the UK, PayExpo Europe offers leading industry insight into the latest trends and best practice. The event is a must-attend with many major names set to share the secrets and opinions. With five conference strands to attend, endless networking opportunities and new features to explore, delegates can enjoy a packed, productive and valuable experience.”

PayExpo Europe attracts over 2,000 attendees from retailers, banks, MNOs, gaming operators, government and local authorities, transport operators and solution providers. Held in London, the FinTech capital of the world, delegates can share insight, best practice and innovation about the future of payments and transaction technology and their impact on global commerce

A full two-day conference pass is £999+VAT. Full details are available at http://paymentsworldseries.circdata-solutions.co.uk/rfg/publish/PEXL2016/

Complimentary passes are available for those involved with specifying payments solutions at:  Retail Banks; Retailers; Mobile Network Operators, Gaming Executives, Transport Operators, Hotel and Leisure Executives, Start-ups and Government Authorities.

Registration is now open at www.payexpo.com/europe

Consult Hyperion and CCG Catalyst are Global Insight Partners of the event and Supporters include PayPal, SIMalliance, Bandwidth Recruitment, Prepaid International Forum, UK Gift Card & Voucher Association, Association for Interactive Media & Entertainment, Bandwidth Recruitment, Edgar Dunn & Company, Emerging Payments Association, Emerging Payments Awards, European Payments Council, IMA, London & Partners, Vendorcom, TIGA, Startupbootcamp FinTech and Altéir Consulting. Pennies are the Charity Partner.

Gold Sponsors include The Bancorp and FIS. Silver Sponsors are Gibraltar Finance and WorldPay. Bronze Sponsors include Feedzai, Compass Plus, Global Processing Services, Currency Cloud, Callcredit Information Group. Bottomline Technologies is the Payments Innovation Sponsor. IDT Finance is the Lanyard Sponsor & Exhibitor. Chartwell Compliance is the Brand Sponsor.

Banking

Japan PM Suga’s cellphone cut call adds to BOJ’s headaches

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Japan PM Suga's cellphone cut call adds to BOJ's headaches 1

By Leika Kihara and Kaori Kaneko

TOKYO (Reuters) – Prime Minister Yoshihide Suga is making life tougher for the Bank of Japan as carriers respond to his calls to cut cellphone charges, a move seen as adding deflationary pressure on the country’s already weak economy.

Suga has publicly said he believes Japan’s cellphone fees are too high and that carriers are a monopoly, a message seen as resonating with younger voters.

Nodding to the pressure, major Japanese carriers NTT Docomo, KDDI and Softbank announced plans to cut charges by up to 20% from as early as March.

That could push down the core consumer price index, which fell 0.6% in January from a year earlier to mark the sixth straight month of falls, by as much as half a percentage point, analysts say.

The move highlights how deflation remains the BOJ’s primary headache, even as its U.S. and European peers face communication challenges posed by recent rises in inflation.

It also shows how in Japan, even seemingly straightforward government decisions can have vast ramifications for the BOJ, given the spectre of deflation.

“Unlike in the United States, government policies work to push down inflation in Japan,” said Mari Iwashita, chief market economist at Daiwa Securities.

“Japan is a country where companies struggle to raise prices because consumers are so sensitive to price hikes,” she added.

(Graphic: Japan is facing rising deflationary risks, https://graphics.reuters.com/JAPAN-ECONOMY/DEFLATION/jznpnolgjvl/chart.png)

(For an interactive graphic on Japan’s core consumer price index, click here https://tmsnrt.rs/3qAtiXc)

Cellphone fees have a big influence on Japan’s price gauge because they have the fourth highest weighting among the 523 components making up the core consumer price index (CPI).

The resulting fall in core CPI would mostly offset an expected boost from a recent rise in energy costs and the base effect of last year’s pandemic-induced sharp declines, analysts say.

Excluding any impact from cellphone fee cuts, analysts expect core consumer prices to start creeping up by mid-year but rise only modestly thereafter.

“Bottom line, Japan’s trend inflation is quite weak because demand is sluggish,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.

To be sure, lower fees would give households money to spend on other items. Fees for a 20-gigabyte plan in Tokyo are highest among the world’s six major cities and triple the sum in London, according to a Japanese government survey last year.

But data so far paints a bleak consumption outlook.

Bank deposits jumped a record 15.5% in January from a year earlier to 827 trillion yen ($7.83 trillion), 1.5 times the size of Japan’s economy, as households save rather than spend.

Real wages fell 1.2% last year, the fastest pace of drop since 2014. Nearly three quarters of firms have no plan to offer blanket base pay hikes at this year’s labour talks, a recent Reuters poll showed.

Takumi Harada, a 27-year-old engineer, says he would consider switching plans to reduce the 6,000 yen in smartphone fees his family pays each month.

But he has no intention of spending the extra money on other items. “I think I’ll just save,” he said.

($1 = 105.5800 yen)

(Reporting by Leika Kihara and Kaori Kaneko, additional reporting by Kentaro Sugiyama; Editing by Raju Gopalakrishnan)

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ECB accounts show worries over strong euro

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ECB accounts show worries over strong euro 2

FRANKFURT (Reuters) – Euro zone inflation is still distant from the European Central Bank target and a strong euro posed an added danger, ECB policymakers concluded last month, the accounts of their Jan 21 meeting showed on Thursday.

The ECB left policy unchanged last month but warned that a recent surge in COVID-19 infections posed a risk to the euro zone’s recovery and raised the chance of a delayed recovery.

Data since the meeting have all pointed to an even weaker start of the year than earlier projected as vaccinations were proceeding slowly and countries were extending lockdown measures, keeping much of the services sector shuttered.

“Concerns were voiced, however, over developments in the exchange rate that might have negative implications for euro area financial conditions and, ultimately, consequences for the inflation outlook,” the ECB said.

“Ample monetary stimulus remained essential,” the ECB added.

Policymakers were more sanguine about a rise in bond yields, saying they remained at historical lows once adjusting for inflation.

“It was maintained that not every increase in nominal yields should be interpreted as an unwarranted tightening of financing conditions and trigger a corresponding policy response,” the ECB said.

Having extended stimulus well into next year in December, the ECB is under no pressure to act anytime soon, as it has already allotted enough firepower to keep borrowing costs down, in line with its commitment to keep borrowing costs stable.

The election of former ECB chief Mario Draghi as Italy’s prime minister also buoyed markets, welcome relief for the ECB as Italy’s ballooning debt is one of the top headaches for policymakers.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)

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Banking

BOJ’s Kuroda says explained March review plan to PM Suga

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BOJ's Kuroda says explained March review plan to PM Suga 3

By Yoshifumi Takemoto

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Thursday he explained to Prime Minister Yoshihide Suga the central bank’s plan to conduct a review of its policy tools in March.

“I explained how the global economy was picking up, and how the BOJ needed to conduct the review to continue its ultra-loose monetary policy,” Kuroda told reporters after meeting with Suga.

Kuroda said Suga did not have any particular comment on the BOJ’s March review and the two did not discuss the Tokyo Olympic Games.

The BOJ governor and the prime minister hold meetings once every few months as a regular practice to exchange views on the economy and policy.

The BOJ unveiled a plan to review its policy tools in March to make them “more sustainable and effective,” as the hit to growth from the coronavirus pandemic forces the central bank to maintain its massive stimulus programme for a prolonged period.

(Reporting by Yoshifumi Takemoto, Writing by Leika Kihara; Editing by Jacqueline Wong)

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