Our biggest stories of the past week are ...
The UK's Faster Payments Service (FPS) celebrated its fifth birthday on 8th May. Since 2008 the system has grown rapidly, as evidenced in the transaction volumes:
- an overall transaction percentage increase of 181%
- 735.6 million annual transactions in 2012
- 900-950 million transactions anticipated in 2013
- processing around £740 billion a year
I was in an interesting debate yesterday about the future of banking, as usual, and the future of branches, yet again. It was all interesting stuff. Then one of the presenters – a design agency that created and designed the...
I was going to move away from further debate about branch and omnichannel today, as there’s far more interesting stuff about Google giving payments away for free with Gmail and PayPal doing the same with mobile, but that will have...
We had a fascinating discussion about how to fix the banks at the Financial Services Club last night (Part Two next week) and the gist of what most panellists came back to, as well as the audience, is that we...
Once upon a time, there was a King. The King had been married to his Queen for three years, when the Queen gave birth to a Princess. Sixteen years later, the King was worried about his daughter. The Princess was...
The shock news of the day, or not, is that Bloomberg’s reporters have been spying on their customers. Or that’s the suspicion anyway, and was kicked off by Goldman Sachs complaint that a reporter from Bloomberg had telephoned to find ...
The major general news stories of the past week include ...
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.
Bill Oddie evicted from HSBC headquarters after protest over bank's links to
logging companies blamed for destruction of the rainforest in Malaysia
- The Independent
Bill Oddie, the naturalist and BBC television presenter, has made a provocative protest film intended to embarrass the global bank HSBC over its links to logging companies blamed for the destruction of the rainforest in Malaysia.
may appoint woman as next chairman as Bischoff seeks exit - The
The starting pistol was fired on the race to find the next chairman of Lloyds Banking Group yesterday as the current chairman, Sir Win Bischoff, 72, said he wanted to retire no later than next year's annual meeting.
scrambles to reassure users - Financial Times
Clients now asking if group’s greatest asset – its ability to generate stories from terminals on almost every trading desk – has become a liability
pioneers would not be amused by bank crisis - The Telegraph
The Rochdale Pioneers would not have been amused. The group of 30 weavers and their friends who struggled to open what was arguably Britain's first co-operative store back in 1844 would have regarded the plight of the Co-op Bank as a symptom of a society that did little for them.
orders Citigroup to improve money laundering checks - Reuters
(Reuters) - The Federal Reserve has ordered Citigroup Inc to better police for the risk of money laundering, part of a broad U.S. regulatory crackdown on the potential for illicit money flows.
ATM heist, India's IT sector again in unwelcome spotlight - Reuters
MUMBAI/BANGALORE (Reuters) - A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.
banks in cyber heist, how to get their money back? - Reuters
NEW YORK (Reuters) - Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say.
threatens to take euro crisis to 'higher plane' , says billionaire hedge fund
boss Michael Hintze - The Telegraph
A stagnant economy, a weak President and a jump in car burnings are all signs of a looming crisis in France that threatens to drive the eurozone's problems to a "higher plane", says hedge fund boss Michael Hintze.
great credit card takeaway - BBC
How people are persuaded to give away their plastic
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