Weekly Global News Wrap Up: HSBC clients use selfies to open new accounts; Deutsche Bank mulls merger with Commerzbank

And Canada's newest bank targets Chinese families.

According to a CNBC report, HSBC business customers can use their selfies to open accounts. A mobile app uses facial recognition software to take a headshot of a customer, which is then compared against a photo ID uploaded by the customer, such as a driver's licence or passport. Read more here.

There were talks between executives of Deutsche Bank and Commerzbank to discuss the potential merger of Germany's two biggest banks earlier this month, reports Reuters. But sources say the two entities have shelved the project to give way to restructurings within their banks. Find out more here.

Wealth One Bank of Canada, the newest bank in the country, aims to woo Chinese Canadians with high-interest savings accounts, term deposits and mortgages in the nation’s two hottest housing markets, according to a Bloomberg report. The bank is targeting individuals and businesses with online banking services supported by offices in Toronto and Vancouver and a retail branch in Markham, a city north of Toronto with a large Chinese population. Read more here.

According to Reuters, JPMorgan Chase has been granted a business license to operate a fully-owned fund management business in China. The license will enable it to set up an office in Shanghai free-trade zone, as per the notice on the website of the Shanghai Industry and Commerce Administration. Read more here.