Things we're reading today include ...
June 18, 2013
June 17, 2013
June 16, 2013
The Finanser's Week: 10th June - 16th June 2013
Our biggest stories of the past week are ...
When work and social life collide, we need social banks
One of the themes of my presentations of recent times is how technology has bridged the divide between work life and social life. This came up in force again, as we talked about the role of social media in finance...
This is a question that comes up more and more, and there’s an easy answer: it’s very important; and a harder answer: it’s not always important; and this is a key discussion in the context of immediate payments, something that...
Why insurance is so boring (and why it needn't be)
I began life in finance in insurance, taking the insurance exams and gaining a professional qualification. I’m still a Chartered Insurance Practitioner today, even though the sector leaves me cold. Why? Because it’s run by Actuaries who are just plain...
The continuing battle over interchange fees
At the Financial Services Club Poland meeting last week, there was a ding-dong discussion over the regulation of interchange fees, as well as a lot of talk about mobile wallets.
Did U.S. Cyberattacks On Iran Backfire On American Banks?
In a guest post by FSClub friend Tom Groenfeldt, we look at how the lockdown on Iran may have backfired in creating a spate of attacks upon US banks including Bank of America, JPMorgan Chase, Citi, Wells Fargo, U.S. Bancorp, PNC, HSBC and BB&T. So far, the cost of these attacks is millions and escalating.
The major general news stories of the past week include ...
Full
memo from Stephen Hester to RBS staff - The Telegraph
Read the full memo sent by Stephen Hester, the outgoing Royal Bank of Scotland chief
executive, to RBS staff.
Labour
overpaid for RBS by £12 billion, minister says - The Telegraph
Labour overpaid by £12 billion when it bailed out the Royal Bank of Scotland at
the height of the financial crisis, Treasury minister Sajid Javid has said.
Santander
invests €5m in mobile payments - Financial Times
Spanish bank partners with Swedish start-up iZettle whose card reading devices
attached to smartphones allow merchants to receive payments
RBS
'should be more like Canadian bank', documents show - The Telegraph
Hedge fund manager pictured with presentation on RBS, entitled "the case
for improving viability", which appeared to recommend that the lender
should become more like a Canadian bank.
HSBC
tops list of Europe's biggest banks - The Telegraph
HSBC leapfrogs France and Germany's largest lenders to take the top spot with
assets of more than £1.7 trillion.
German
banker axed for 'sleep error' - BBC
A German court has ruled a bank supervisor was unfairly fired for missing a
multi-million-euro error by a clerk who fell asleep during a transaction.
Banks
Race To Meet Account-Switching Deadline - Sky News
Britain's biggest banks are racing to meet a deadline to allow customers to
move their accounts within a week as they bid to head off measures that they
claim will cost the industry billions of pounds.
Revealed:
a blueprint for banking reform - The Telegraph
Ahead of the final report from the banking commission on raising industry
standards, Harry Wilson reveals the key areas that the dossier will cover.
Metro
Bank’s Anthony Thomson forecasts more entrants to banking - Financial
Times
The UK will see between five and 15 new entrants to banking over the next three
to five years, according to the founder and former chairman of Metro Bank, the
first new high street bank for more than a century when it launched in 2010.
Facebook
virus that empties your bank account - AOL Money
Internet security experts are warning of a virus embedded into pages on
Facebook. Users who click the links are taken to malicious websites, which
install a virus. The virus then quietly sits on your computer, stealing
passwords and account details until it has enough details to empty your bank
accounts.
If you like the Finanser, check out the books of the blog: the Complete Banker Series
The Financial Services Club is sponsored by:
For details of sponsorship email us.
June 14, 2013
June 13, 2013
June 12, 2013
June 11, 2013
June 10, 2013
June 09, 2013
The Finanser’s Week: 3rd June - 9th June 2013
Our biggest stories of the past week are ...
How many mbank users are there in Europe and who are they?
I said I would move away from EFMA Week, but the brain washing achieved a true immersion as I realised there’s one last bit that was missed: EFMA’s Research. A lot of good insights came from the week through the...
Proof that mobile banking is killing the branch
A final presentation from EFMA week that I need to reference before moving on came from Eric Mackor, Head of Channel Development at the Netherlands Retail Bank ABN AMRO (as opposed to the transaction bank part of ABN AMRO that...
How to secure an insecure world
Another major focal point of the debate last week was around information security, something that I presented around in-depth. My tenet is that banks should place themselves firmly at the heart of information security and offer customers a secure data...
Facebook banking comes of age (at last!)
As some of you will have gathered, I spent most of last week in Brussels at the EFMA Distribution Week. During the week I heard a great story about one bank's move from viewing Facebook as suspicious to being fully committed to its use for core banking services for customers.
Before moving off Facebook banking, there were many other mentions of Facebook Banking during the conference. For example DenizBank, the Turkish subsidiary of Moscow-based Sberbank, believe that they were the first to offer full service Facebook banking in January 2012,...
The major general news stories of the past week include ...
Facebook
virus that empties your bank account - AOL Money
Internet security experts are warning of a virus embedded into pages on
Facebook. Users who click the links are taken to malicious websites, which
install a virus. The virus then quietly sits on your computer, stealing
passwords and account details until it has enough details to empty your bank
accounts.
Barclays
executive accused of lying in £140m case - The Telegraph
The Barclays executive at the centre of a €164m (£140m) damages claim against
the bank was accused in court on Tuesday of telling a "blatant lie"
to cover up how the lender had allegedly mistreated a client.
Whale
of a Trade Revealed at Biggest U.S. Bank With Best Control - Bloomberg
Bloomberg analysis of what really happened with JPMorgan's London Whale losses
last year.
Prosecutors
tell Barclays to hand over scandal papers - The Independent
New York prosecutors have reportedly ordered Barclays to hand over records
relating to the growing Liberty Reserve scandal.
Financial
system ‘waiting for next crisis’ - Financial Times
Sequence of crises have been trading-related, and the system is geared around
trading profits, or money borrowed from the future, says Kay
BIS
records startling collapse of eurozone interbank loans - The Telegraph
Cross-border lending is falling drastically across the western world as banks
slash exposure to Europe and bend to tougher capital rules, according to data
from the Bank for International Settlements.
BIS
lays out "simple" plan for how to handle bank failures - Reuters
LONDON (Reuters) - Central bank forum the Bank for International Settlements
laid out a blueprint on Sunday for how to recapitalize a major lender in the
event of a failure, seeking to avoid the sort of chaotic ad hoc rescues seen
since 2008's financial crash.
Bernanke
jokes about own future in Princeton commencement speech - Reuters
(Reuters) - Never believe Federal Reserve Chairman Ben Bernanke doesn't have a
sense of humor.
Debit
sends cash tumbling - The Independent
The amount of cash used to make retail purchases has tumbled to an all-time
low, as consumers continue to step up their usage of debit cards.
Bank
predicts Pingit demand surge - Express and Star
Barclays said it has already seen large spikes of activity over recent bank
holidays, with a 300% increase in people logging into its Pingit app over the
Easter and early May bank holidays compared with normal weekends.
If you like the Finanser, check out the books of the blog: the Complete Banker Series
The Financial Services Club is sponsored by:
For details of sponsorship email us.
June 07, 2013
June 06, 2013
June 05, 2013
June 04, 2013
June 03, 2013
June 02, 2013
The Finanser's Week: 27th May – 2nd June 2013
Our biggest stories of the past week are ...
Is the Governor of the Bank of England lost at sea?
We have several national British Treasures: Buckingham Palace, the Queen, the Houses of Parliament, Bruce Forsyth, Chicken Tikka Masala; but a new one is bidding for glory. Sir Mervyn King, the outgoing Governor of the Bank of England. A massive...
20 years of change and the challenge is still the same
Twenty years ago, I was inspired by Mike Hammer and James Champy’s book Re-engineering the Corporation to start a consulting practise in business process re-engineering (BPR). I had just been made redundant from a firm that automated office processes with...
How do you secure yourself in an insecure world?
Just gave a presentation at the EFMA Conference this week on online insecurity, exacerbated by mobile hacktivists. I'm quite pleased with it, as it's newly refreshed material, so here it is. Efma, no one is safe, 290513 from Chris Skinner...
Do traders lack diplomacy and tact?
Reinforcing the idea that traders in the City have no diplomacy or tact, here's two adverts from online trading firm AvaTrade. Their newest ad obviously forgot about something called 9/11 and the one before this was banned for sexism.
There’s an elephant in the room
There’s an elephant in the room. Isn’t that a lovely phrase? It’s meant to say there’s something so big that’s in your sphere of business (or life) that it can no longer be ignored. For Barack Obama, it’s terrorism. For...
The major general news stories of the past week include ...
Debit
sends cash tumbling - The Independent
The amount of cash used to make retail purchases has tumbled to an all-time
low, as consumers continue to step up their usage of debit cards.
Paid
for current accounts may be next scandal, watchdog warns - The
Telegraph
Paid-for currents accounts could be the next bank mis-selling scandal as more
complain they cannot use the advertised perks.
Lloyds
continues sale of private banks - The Telegraph
Lloyds Banking Group has sold two private banking businesses as the
state-backed lender continues to cut its international presence as part of its
turnaround plan.
Digital
cash arrests cause 'pain' - BBC
A leading security expert says he has seen evidence that criminals are suffering
as a consequence of the Liberty Reserve arrests.
Does
Canadian money smell of maple syrup? - The Telegraph
Ahead of Mark Carney taking up the role of Bank of England governor, Canadians
have demanded to know whether their new banknotes have a secret smell of maple
syrup
NatWest,
RBS and Ulster Bank apps hit by glitches - The Guardian
Latest IT problem for banking group sees customers getting error message when
logging on through apps
Single
bank watchdog becomes mammoth project for ECB - Reuters
The European Central Bank faces a race against time to set up a watchdog for
the euro zone's 6,000 banks and risks having an under-equipped team in place
when it begins the task in mid-2014.
HSBC
veteran Niall Booker to lead troubled Co-op bank - The Telegraph
The Co-operative Group has hired a former senior HSBC director to take charge
of its struggling banking arm.
Bank
predicts Pingit demand surge - Express and Star
Barclays said it has already seen large spikes of activity over recent bank
holidays, with a 300% increase in people logging into its Pingit app over the
Easter and early May bank holidays compared with normal weekends.
The
bank account switching revolution - Yourmoney.com
Led by the Payments Council, a new, free-to-use Current Account Switch Service
will be launched that will make switching from one bank or building society to
another simpler, reliable and hassle-free.
If you like the Finanser, check out the books of the blog: the Complete Banker Series
The Financial Services Club is sponsored by:
For details of sponsorship email us.
May 31, 2013
May 30, 2013
May 29, 2013
May 28, 2013
May 26, 2013
The Finanser's Week: 20th May - 26th May 2013
Our biggest stories of the past week are ...
I know, let's differentiate the bank by launching an app!
It’s Friday, so we should have some fun. Unfortunately, it’s both a bit of fun and a bit of a challenge. The challenge is how to differentiate the bank? That’s always been a challenge. Most banks reckon that they don’t...
Fixing our banks: now we know the answer
We had another round of debate about fixing the banking system at the Financial Services Club this week (read Part One here). This time it was the turn of the shareholder, media and industry to air their views, ably represented...
Bank innovation: this time there's commitment
It was intriguing to see the rise of innovation in banking during the 2000s. Every bank had an innovation programme, a Chief Innovation Officer, an innovation mantra in their annual reports and an innovation organisation in the bank. What is...
Four out of five corporates are not ready for SEPA end-dates
For the fifth year, the Financial Services Club ran a survey of payments professionals worldwide to see how successfully regulations and technologies are changing the European payments landscape, sponsored by CGI and EBA CLEARING. The survey ran during the spring...
Not everyone knows the future ... or even the present
It's interesting that some of us present and present and present, talk and talk and talk, blog and blog and blog and more about the future of money, payments, banking, society, the world and so on such that, by the...
The major general news stories of the past week include ...
Bank
predicts Pingit demand surge - Express and Star
Barclays said it has already seen large spikes of activity over recent bank
holidays, with a 300% increase in people logging into its Pingit app over the
Easter and early May bank holidays compared with normal weekends.
One
in five customers to switch bank accounts - The Telegraph
Soon customers may be more likely to move bank account, than get divorced -
with new slicker switching process.
Bank
customers and employees ride out Oklahoma tornado inside the vault - Daily
Mail
Customers who were at the local bank when the devastating tornado hit Moore,
Oklahoma on Monday took refuge in the secure vault, and it's all that's left
standing of the building.
PayPal
Finds More than 80% of Consumers Want to be Wallet-free - Payments News
PayPal has published the results from a global consumer study that it says
"paints a dim future for the wallet. A vast majority (83%) of respondents
across five countries indicated they wished they didn’t have to carry a
wallet." It’s not about replacing cash or your credit card with a
The
bank account switching revolution - Yourmoney.com
Led by the Payments Council, a new, free-to-use Current Account Switch Service
will be launched that will make switching from one bank or building society to
another simpler, reliable and hassle-free.
Wealthy
bank depositors to suffer losses in EU law - Reuters
A draft European Union law voted on Monday would shield small depositors from
losing their savings in bank rescues, but customers with over 100,000 euros in
savings when a bank failed could suffer losses.
Redemption
awaits Britain's battered banks - The Telegraph
Our revolutionary new model would transform their image - and their customers'
finances, says Gillian Guy
'Moral
issues' lead banks to refuse porn stars bank accounts and loans - Daily
Mail
Being a porn star might not meet the approval of everyone you meet but you
might think your bank manager would be one person who wouldn't have cause to
complain.
Let's
boycott this needless tax that would cripple markets and keep Europe in the
slow lane - The Telegraph
Europe has a growth problem: the International Monetary Fund has warned of a
three-speed world economy, with the eurozone losing further ground to the
United States and emerging economies.
HSBC
eyes 14,000 job cuts as it looks for $3bn cost saving - The Telegraph
HSBC could cut as many as 14,000 jobs in the next three years in an effort to
reduce its annual costs by between $2bn (£1.3bn) and $3bn.
If you like the Finanser, check out the books of the blog: the Complete Banker Series
The Financial Services Club is sponsored by:
For details of sponsorship email us.
Recent Posts
- Paranoid about launderers (and rightly so)
- Things worth reading: 18th June 2013
- Building human relationships through digital channels
- Things worth reading: 17th June 2013
- The Finanser's Week: 10th June - 16th June 2013
- When work and social life collide, we need social banks
- Things worth reading: 14th June 2013
- How important is real-time?
- Things worth reading: 13th June 2013
- Why insurance is so boring (and why it needn’t be)
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