A summary of the main blogs of the week …
Open Banking consultation (deadline December 23 2016)
I’ve been talking a lot about open sourcing financial services this year and, more recently, tracking Open Banking. The Open Banking Working Group was launched just over a year by HM Treasury to create an Open Banking Standard. The standard is meant to guide how open banking data should …
The impact of #Brexit on the City and Fintech London
So we finished the Financial Services Club season with a discussion of the implications of Brexit on the City of London and Fintech London, with a panel debate amongst four stellar people: Sharon Bowles, former MEP and now Baroness Bowles of Berkhamsted; Lawrence Wintermeyer, CEO, …
Fly me to the moon, and let me play among the stars …
I’ve written a bit about space this year, because it’s getting really interesting. It’s also because I’m a frequent flyer and can see how our world of transport has changed so, so much. When I was little, my grandparents lived in a small village in …
I was pointed to this article in the weekend’s Daily Wail by the one and only Duena Blomstrom, and it makes for great reading. It’s all about the death squeals of consumers and journalists as they see the last bank in the village leave. Here’s the …
British bank branch network decimated with move to mobile
Building on yesterday’s news, the consumer research organisation Which? just released a report with a whole bunch of stats on UK bank branch closures. Over 1,000 branches have closed in the last two years, with HSBC being most aggressive, shutting over 27% of their network. …
And this week’s top 10 news stories are:
Goldman Sachs shakes up top team after Gary Cohn quits to work for Donald Trump - The Telegraph
'Bank let me withdraw $2million so I spent it on strippers, cocaine and fast cars' - The Mirror
An unemployed man who discovered his bank had accidentally allowed him an unlimited overdraft has won an appeal against his jail conviction.
Wells Fargo fails US bankruptcy test for a second time - BBC
US bank Wells Fargo is hit with restrictions after its attempts to fix issues with its bankruptcy plan failed.
HSBC closes a quarter of branches, as 1,000 banks shut for good - BBC
HSBC has closed more than a quarter of its UK branches over two years, as part of 1,000 bank closures in total, research by Which? finds
Former Barclays boss Antony Jenkins joins board of Blockchain - The Telegraph
The world's 10 richest business people aged under 40 - The Telegraph
$1,570,000,000,000: how much the world spent on arms this year - The Telegraph
Barclays exits retail banking in Europe after selling off last vestiges of French business - The Telegraph
Exclusive: SWIFT confirms new cyber thefts, hacking tactics - Reuters
LONDON/BOSTON (Reuters) - Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a previously undisclosed letter the organization sent to
Meet the Ma family: How millennials are changing the way China thinks about money - Reuters
SHANGHAI (Reuters) - Ma Yiqing, 24, is typical of China's younger generation - he uses his credit card frequently and borrows from online platforms to fund his shopping habits. In a pinch, he is happy to fall back on a lender closer to home - his mum and dad.
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.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...
