Home / Blog Index / The Finanser’s Week: 17th September – 23rd September 2012

The Finanser’s Week: 17th September – 23rd September 2012

Our biggest stories of the past week are … 

What Star Trek tells us about

For years, I’ve been a fan of Star Trek, and
have used their innovations in many presentations, but I’ve always wondered:
how come there’s no money on the Star Ship Enterprise? Is everything free? Not
exactly. My supposition was that…

Banks spend billions on risk management IT, but is IT working? 

I was chairing a conference about risk and
regulation today, and opened with the view the it is the culture of banking
that needs to change. You can force the change through regulation, but if banks
really want to be…

The Financial Services Club Season, London, Q4 2012

We are pleased to announce details of our
Winter Season of meetings of the Financial Services Club, London. If you would
like to attend any of the meetings, please go to the fsclub.net and register.
Tuesday, September 25 2012 Alex…

Banks biggest opportunities lie in emerging markets

I just received a report from the Economist
Intelligence Unit (EIU) on new bank models based upon different styles of
banking in emerging markets. According to the report, the BRIC economies and
their brethren will account for 35% of global…

Mobile payments explode in India

I was just updating a presentation about mobile
payments. The presentation was from May 2011 and talked extensively about
Google Wallet, Square and M-PESA. One year on and the presentation still talks
about the same things but I am shocked…

The major general news stories of the past week include …

Deutsche Bank
to start job cuts in Germany: paper
– Reuters
FRANKFURT (Reuters) – Thousands of jobs may go at Deutsche Bank AG in Germany,
with a first round of losses at its base in Frankfurt and its Postbank unit in
Bonn, a German newspaper reported on Friday.

warned Barclays on hiring Diamond
– The Independent
The Financial Services Authority warned Barclays back in 2010 that Bob Diamond
could prove "unsuitable" to be made chief executive of the
scandal-racked bank, correspondence released yesterday revealed.

Bankers 'among
the least trusted'
Mis-selling scandals and the financial crisis means bankers are now trusted
less than estate agents, according to consumer group Which?.

Square –
upwardly mobile
– Financial Times
Ambition to become default mobile payments service hampered by challenge from
big tech groups and high fees charged by credit card companies

Probe focuses
on JPMorgan's monitoring of suspect transactions

– Reuters
(Reuters) – A U.S. regulatory probe of JPMorgan Chase & Co's anti-money
laundering systems is focusing on potential lapses in how the largest U.S. bank
monitors suspect money transactions, according to people familiar with the

Browne: 'We must restore trust in the City'

– The Telegraph
The new head of the bankers' association, Anthony Browne, tells The Sunday
Telegraph of his plans for change .

UBS trader
Kweku Adoboli lost thousands on spread bets prior to arrest

– The Telegraph
Kweku Adoboli was overdrawn and relying on pay-day loan companies.

UBS was aware of
Kweku Adoboli's billion-dollar trading problems six weeks prior to arrest

– The Telegraph
UBS knew of $3.6bn black hole in trading accounts, a court heard.

Interest-only mortgage crisis looms
– The Independent
Lenders are facing a massive £116bn in unpaid interest on mortgages which are
due to mature by 2020, according to xit2, a leading asset valuer.

and UK 'close' on banks
France says it is in agreement with the UK on the EU plan to centralise
supervision of eurozone banks.


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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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