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I got this report from Monitise a month ago, but only just got around to writing about it. It's stats about mobile money and, if anyone knows me well, they'll know that I like stats. So here are some numbers:
1,008 million people use Facebook mobile every month
341 million people only use Facebook mobile
50 billion apps have been downloaded from Apple’s App Store
$10 billion is the income Apple generated from apps in 2013
500 million tweets are sent every day
540 million people use Google+
$108 (UK) $96 (US) is how much Google makes out of every adult (15+) in 2013
Source: Facebook, Business Insider, Twitter, Google, Apple, UN
I just read some interesting research by the Bank Workers Charity, a charity set up over a century ago to provide education to orphans but, today, a charity that looks after the needs of redundant or sick (not cool, but ill) workers in finance. They’ve been very busy lately.
I was having a debate the other day with two bank CEOs. One runs a direct bank that is going digital and the other runs a branch based bank that is investing in digital. At one point in the conversation, we got into a discussion about coders and, in a surprisingly frank dialogue, both CEOs said that coders are the most critical resource for their bank today. Coders make the difference.
I keep getting into debates about bitcoin and when banks should take notice of bitcoin. C’mon. If a bank hasn’t noticed bitcoin yet, then they must be a bank completely uninterested in banking strategies. bitcoin is important, but it’s not the be-all and end-all. In fact, it is fairly irritating.
I was lucky enough to visit with Metro Bank recently, and they gave me startling stats and insights to the emerging business. Launched in June 2010, Metro Bank has rapidly grown to 27 branches today, with a plan for 32 by the end of this year and 48 by the end of next.
The major general news stories of the past week include ...
Why Atom Bank chose to start a banking revolution from Durham - The Northern Echo ALMOST seven years since the sight of customer’s besieging a North-East lender offered irrefutable proof that the banking industry was undergoing a sea change, Business Editor Andy Richardson talks to the people behind the region’s latest foray into the world of financial services.
Make the Barclays-Goldman comparison - Financial Times Among the famous head-to-head rivalries in banking, Goldman Sachs and Barclays never really figured. However, investors would be wise to compare the two banks
Scotland’s financial sector at ‘risk’ - Financial Times MPs infuriate Scottish nationalists by warning on the impact of independence and labelling the idea of a currency union as a ‘dead parrot’
I just read some interesting research by the Bank Workers Charity, a charity set up over a century ago to provide education to orphans but, today, a charity that looks after the needs of redundant or sick (not cool, but ill) workers in finance.
Each year, The Banker magazine (to which I contribute a monthly column) publishes their list of the Top 1000 banks. It's a great research resource that I've been tracking since 1994, when half the banks in the top 10 were Japanese. Now, half of them are Chinese. Ten years ago, they were all American.
Building on the theme of digital identities, we are moving rapidly to a future based upon digital implants. I have had this vision since the Baja Beach Club began chipping customers with NFC capabilities, as who wants to take a wallet or purse to the beach.
I engaged in a lengthy debate yesterday about digital banking (for a change). The core of the discussion is whether humans are needed in a digital bank. Not humans to program the bank, as they’re obviously needed, but humans to service the customer. It was somewhat of a null debate, as you will definitely have a bank with no humans involved in service in the near future.
Returning to the subject of cloud computing, I mentioned that it is starting to succeed by being more relevant through a vertical focus, but there is still more to be done for cloud to truly take off in banking. In particular, most banks have a concern about the risk of cloud and who is accountable.
The major general news stories of the past week include ...
PayPal fuels higher eBay revenue even as cyber attack, rivals weigh - Reuters SAN FRANCISCO (Reuters) - EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a well-publicized cyber attack.
BRICS set up bank to counter Western hold on global finances - Reuters FORTALEZA Brazil (Reuters) - Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system.
Each year, The Banker magazine (to which I contribute a monthly column) publishes their list of the Top 1000 banks. It's a great research resource that I've been tracking since 1994, when half the banks in the top 10 were Japanese. Now, half of them are Chinese. Ten years ago, they were all American (apart from a few token Europeans).
Twenty years ago, they all wanted to be dominant in their territories. Today, they want to dominate their regions. Ten years ago, they wanted to dominate the world.
The latest top 10 list makes for interesting reading however, as we see the Chinese banks rising to be the stablest today ...
... I just wonder, with shadow banking and non-performing loans, whether these Chinese banks will still be in the top 10 ten years from now?
Anyways, the list is one that I could spend hours talking about but, rather than doing so, I'll let The Banker's very own Brian Caplen and Philip Alexander do the talking.