Newspaper headlines: Banking 'revolution', Southern trains, Tom Daley and Adam Peaty

A "revolution" in mobile phone banking and success for Britain in the Olympic swimming pool feature on the front pages.

The Telegraph reports that bank customers will be able to access details of all their finances through a single mobile phone app by 2018.

This is because of rules announced by the watchdog Competition and Markets Authority.

The Telegraph says: "Banks will be told that customers must have the capability to apply for loans and overdrafts on their mobile phone, and be able to transfer money between accounts.

"It will increase competition by allowing customers to access all their finances, including current accounts, savings accounts and mortgages, in one place even if they are currently managed by different providers.

"It will also enable customers to compare rates with other providers and quickly move their money if they are getting a poor deal. It is anticipated that, as well as banks offering 'open banking' apps, non-financial firms would be able to enter the market for the first time.

The Telegraph predicts that it will remove the need to visit bank branches or use computers for online banking.

"It will also lessen the risk of customers being targeted in branches by 'advisers' who often attempt to sell poor value products and unnecessary add-ons, such as insurance," the Telegraph continues.

Eye-catching headlines

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  • Strictly Balls' room: former shadow chancellor to appear on hit TV show: Ed Balls admitted yesterday he was "scared to death" as the BBC confirmed that he would appear on the next series of Strictly Come Dancing - Guardian

Off the rails

The Times focuses on industrial unrest at train company Southern which is cancelling about 1,000 trains a day during this week's five-day strike.

The paper says three unions are expected to take co-ordinated action on one of the country's busiest rail routes within weeks as part of a "mega-strike designed to bring the network to a standstill".

"The action on Southern Rail next month will come on top of a five-day strike this week, the longest for almost 50 years," says the Times. "More than four in 10 trains were cancelled yesterday, disrupting the travel plans of up to 300,000 passengers.

"Rail insiders fear that strikes could spread to other parts of Britain in coming years as more companies adopt the modernisations at the centre of the Southern stoppage.

"These include driver-only operated trains, with the conductor's role downgraded."

Image copyright EPA
Image caption Southern Rail is cancelling about 1,000 trains a day

The Times notes that the move has already led to flashpoints on the Great Western Railway in south-west England and Wales, and ScotRail in Scotland.

"It was reported last night that the government was considering further measures to strip under-performing rail companies of their power to run services, including the failure to resolve disputes with unions," adds the Times.

The Telegraph says Prime Minister Theresa May condemned the strike and accused union bosses of ignoring disruption caused to passengers.

The Guardian says there appeared to be little chance of an early end to the strike on one of Britain's busiest rail franchises as commuters stayed at home or negotiated a train service cut by almost half.

According to the Financial Times, Mrs May weighed into the dispute by strongly condemning the strike action.

Govia Thameslink, which runs Southern Rail, said almost 90% of its planned curtailed service had run successfully - but the RMT union said support for the strike was "rock solid", adds the FT.

Matt's cartoon in the Telegraph has a couple on the beach, with one of them saying: "I like some escapist fiction when I'm on holiday. I'm reading the Southern Rail timetable."

Pool party

The Olympic Games make a splash in the papers with medal success in the pool for Team GB.

The titles are split over whether to feature Tom Daley, who won bronze with Dan Goodfellow in the synchronised diving, or Adam Peaty after his gold in the breaststroke.

Barney Ronay reports from Rio in the Guardian: "The first the Maria Lenk Aquatic Centre knew of Tom Daley and Daniel Goodfellow's bronze medal in the 10m platform dive was a single, cry from the Team GB coach Jane Figuero a microsecond before the arena itself erupted.

"For Daley and Goodfellow the pursuit of the leaders had come down to the very last knockings, the final dive of 36 in a gruelling competition.

"Picked out for a moment against the grey fuzz of the evening sky, they paused, charged and hurled themselves into a final back 3.5 somersault pike, producing under extreme pressure a genuinely beautiful moment of plunging synchronicity.

"As they surfaced Daley hugged Goodfellow, both fixed on the score board. Then came the scream, the cheers, the row of 9s and 8.5s and a spontaneous plunge arm in arm into the shallows."

Image copyright Getty Images
Image caption Tom Daley and diving partner Dan Goodfellow celebrate Olympic bronze

"Champ!" says the i, which has a dramatic picture of Peaty approaching the finish and about to break the world record.

He could have been forgiven for wanting a break from water, reports the Telegraph, but Adam Peaty is planning a romantic holiday in the Maldives with his girlfriend to celebrate his historic victory at Rio 2016.

The paper also focuses on canoeist David Florence who is hoping to make it third-time lucky after winning silver in London and Beijing.

He has grown used to being the perpetual bridesmaid, says the Telegraph which explains that he grew up as a neighbour of Britain greatest Olympian Sir Chris Hoy and lost out to Major Tim Peake to become an astronaut.

The Mail says Peaty is set to become a millionaire after taking gold in Rio.

"Though the 21-year-old's first thought must have been of his Olympic medal, he may quickly have released that his pay cheque is also set to soar," reports the Mail.

This is echoed by the Sun, which says: "Swimming sensation Adam Peaty celebrated golden glory in Rio yesterday - as experts predicted he could pocket up to £2m in sponsorship and advert deals in the next 18 months."