Here are our key stories of the week:
- A real-time global pulse
- Branches Wanted: Dead or Alive? And what not to wear for a bank robbery
- Are we hard wired to mess up our money?
- Are you being hacked (and do you know)?
- Trading water
- Ten Questions and Ten Statements
- Dow Jones ... don't mess with this mother
- FSClub 8th June: Mobiles and M&A
- This house believes new liquid architectures will dominate
There are wide differences of opinion between different banks of the role of a branch these days. Is a branch a branch, a store, a transactional centre, a sales centre, a retail lobby, an automated machine or all of these things or none of them? On the one hand, HSBC are saying that branches are uneconomic; on the other hand, Santander has decided to rebrand all their UK branches and want more. Meanwhile, there are new banks opening branches, such as Tesco and Metro Bank, and old banks closing branches by the dozen. Who is right and who is wrong?
And what not to wear for a bank robbery
Some of the worst outfits worn by bank robbers.
Are we hard wired to mess up our money?
A variety of experts are analysing our brains to see how they work with making decisions about money and risk. Their conclusions are that we simplify to the point of a simple will I win or lose view. The result is one explanation of what causes stock market booms and busts.
Two internet software security firms, McAfee and Sophos, produced some interesting reports on fraud, malware and cybercrime this week. According to McAfee, Americans have lost about $8.5 billion because of internet scams in the last two years alone. As a result, they've launched an interesting series of videos to educate your Average Joe's and Jane's in what to do and what not to do for safe surfs. Meanwhile, Sophos claim that "one newly infected webpage is discovered every 4.5 seconds", and much of this is being proliferated by social networks such as Facebook.
Last year, I wrote an extensive piece about a vision of trading in the future based upon 24*7 real-time global markets and the impact of news algorithmics. A key piece of that article was the idea of water being a rare commodity and hence of very high value. Traders globally focused upon Oceans, Rivers and Lakes, and the world fought wars over water. This fiction is now coming true.Ten Questions and Ten Statements
McKinsey posted a great little conversation starter this week entitled:"What next? Ten questions for CFOs", and subtitled: "As companies shift their attention from fighting the crisis to getting the most from the recovery, CFOs must keep them focused." It's nice to see that McKinsey are calling this a recovery now, and so here's the 10 questions to get the conversation started ...Dow Jones ... don't mess with this mother
If you thought the stock markets were scary, then take a look at this ...
FSClub 8th June: Mobiles and M&A
We have two club meetings taking place on the same date on 8th June. In Ireland, the meeting will focus upon Mobile Finance whilst our meeting in Vienna studies the liklihood of M&A in CEE.This house believes new liquid architectures will dominate
On 9th June, we are holding a Capital Markets Chamber meeting of the Financial Services Club that will debate the motion: "This house believes new liquid architectures will dominate bank's strategic plans from next year onwards". This debate focuses upon how banks benefit from doing liquidity risk management right, particularly in a post-Lehman world.
And the biggest news stories of the week include:
FSA reveals its 'severe' bank stress tests but hides results (Independent)
Nationwide hits out at savings protection scheme (Independent)
Santander’s renaming of UK banks will not cost it much (Times)
Europe tightens regulatory noose on City (Telegraph)
German debts set to blow 'like a grenade' (Telegraph)
Hank Paulson Admits He Never Really Understood How Mortgage-Backed Securities Worked (Consumerist)
Post-trade suffers heat of regulation (Financial Times)
Financial Sector Cybersecurity Issues (Information Security Resources)
For stories by date, click on the dates below: