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RETAIL BANKING | Staff Reporter, Singapore
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Weekly Global News Wrap Up: Mastercard in talks to launch biometric payment cards; Uzbekistan opens door to Kazakh lenders

And here's how Citi's hoping to lure deposits without opening branches.

From CNBC: Mastercard is holding talks with banks in the U.K. about bringing biometric payment cards to market.

The credit card firm has been testing cards with in-built fingerprint scanners, which are used to verify customers' identities. This is intended to replace the use of passwords and speed-up the process of making payments online and contactless transactions in-store.

From CNBC: Uzbekistan has relaxed regulatory requirements for Kazakh banks looking to set up subsidiaries in the neighboring Central Asian nation, opening the way for Halyk Bank, Kazakhstan's biggest lender, to start cross-border operations. Uzbekistan normally allows only banks rated "A" or higher to establish subsidiaries on its territory.

From Reuters: Citigroup Inc is now trying to up its game with a new app it plans to begin marketing in the third quarter. Executives hope it can lure deposits without opening new branches, acquiring a rival or beating competitors’ rates – three ways to collect deposits with their own costs and risks. The app, which does not have a name, will augment the bank’s push to expand its wealth management business.

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