Home / Blog Index / The Finanser’s Week: 16th May – 22nd May 2016

The Finanser’s Week: 16th May – 22nd May 2016

Our main stories of this week includes …

Social KYC: far easier than passports and utility bills

I just received a white paper about Social KYC from Fintech startup Veridu.  The idea is to use our social media profiles to authenticate and onboard as a new 21st century KYC process.  It’s an interesting idea I thought I’d share here but, before I …

Fintech vs Banks is like the Mouse vs the Elephant

I’m often asked whether banks should be afraid of the threat of Fintech.  My answer is that most Fintech is enhancing what banks do, rather than threatening their core business.  I sum this up as wrappers, replacers and reformers, and that the only Fintech firms …

Robots against Humans is like Spock against Kirk

I was talking to a City chap this week about the Brexit vote and he felt it was clear we would leave.  I said I couldn’t see that because there was not a single logical economic reason for leaving.  He said that I was stupid …

For all the talk about blockchain, what is really happening?

There is a lot of talk about blockchain.  A lot.  Loads.  But when you get past all the talk, what is actually happening with blockchain?  Answer: not enough. I say this because there are some stand out firms out there – like R3, Digital Asset …

The future of Africa

I promise to shut up about African developments after this post, for a while anyway, but there’s a definite feeling that Africa may set the standards for a cheaper, easier financial system in the future, as blogged last week.  In fact, when I was asked …


This week’s major headlines include …

The bank account that gives you a shock – BBC
One British firm is seeking to put the buzz back into budgeting by giving bank customers an electric shock if they overspend.

Financial technology start-ups need power of the EU behind them – The Telegraph

Big Four banks benefit from regulator’s featherlight approach – Guardian
CMA inquiry’s tweaks leave customers waiting for real a FinTech revolution as Vodafone’s organic view finally comes good Expectations were low and the Competition and Markets Authority barely met them . If that sounds cruel, consider the painful moment at the end of the mid-morning press conference when Alasdair Smith,

Chinese bank buys London gold vault – BBC
China’s ICBC Standard Bank, the world’s biggest bank by assets, agrees to buy a massive vault in London as it looks to grow its gold and precious metals business.

‘Nearly 1m’ over-75s living in poverty – BBC
Nearly one million people aged over 75 live in poverty and need more help from the government, a report suggests.

Lending Club: from disruptive outsider to traditional financier – Financial Times
A very Wall Street fuss is rattling an industry that was meant to be the antithesis of Wall Street

Vocalink seeks to cash in with China’s UnionPay deal – Financial Times
Five-year deal now allows UnionPay cardholders access to ATM networks in Europe and Britain

Rise of the billionaire robots: how algorithms have redefined hedge funds – Guardian
The 25 best-paid hedge fund managers pocketed $13bn in 2015, and most of the big winners relied on programs, not contacts, for their big wins On Wall Street, you eat what you kill. And boy, can they eat. According to a just-published annual survey by Institutional Investor’s Alpha magazine, the

Revealed: none of Britain’s ‘unicorns’ openly support Brexit – Guardian
Of 14 companies valued above $1bn, five are against leaving EU, while others are neutral or have declined to comment None of Britain’s so-called unicorns, private companies with a valuation above $1bn (£710m), will support Britain leaving the EU, the Guardian can reveal. Of the 14 companies on the list,

Smart cars: how technology is putting the brakes on insurance premiums – Guardian
From parking with the press of a button to crash-avoidance systems, driving is becoming safer, and cheaper Many drivers looked at their car insurance with an air of resignation last year. After years of declines, the average premium was on the way back up, by an average of 8%. That frustration may


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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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