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RETAIL BANKING | Staff Reporter, Singapore
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Weekly Global News Wrap Up: Two-thirds of its users would bank with Amazon; Americans still choose cash for small purchases

And Deutsche Bank will transfer more assets to Frankfurt after Brexit.

From CNBC: Banks, you've been warned. About two-thirds of Amazon Prime members would try a free online bank account from the e-commerce giant, according to a report from consultant Bain & Co. That's considerably higher than the percentage of regular Amazon customers (43 percent) or non-Amazon customers (37 percent) who would try an account, indicating strong loyalty to the Prime bundle of services.

From CNBC: When it comes to small purchases, more Americans prefer paying with cash. For purchases under $10, about 45 percent choose cash compared with 30 percent who opt for debit cards and 23 percent who go with credit cards, according to a new survey from CreditCards.com. It is not until purchases get larger — at about $25 — that a so-called tipping point is reached where consumers are more willing to pay with plastic.

From Reuters: Deutsche Bank is considering shifting large volumes of assets from London to Frankfurt after the UK’s planned exit from the European Union next year to meet demands from European regulators, a person close to the matter said on Sunday. Deutsche will also transform its UK arm into a ringfenced subsidiary after Brexit and reduce the size and complexity of its British operations, the source said.

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