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Today's must read
Infosys released a couple of major reports this week on banking innovation.
The first is a survey by the US BAI of 116 senior bankers (12 page report), whilst the other is a survey by Europe’s EFMA of 89 banks in 26 countries (76 page report).
Both of the reports find that four out of five bankers rate innovation initiatives as extremely important or very important for their pursuit of growth and for improving future efficiencies. Almost nine out of ten believe that IT is extremely or very important to innovation efforts.
Meanwhile, inflexible IT systems and bottlenecks in IT development were highlighted as the top two barriers to innovation.
The detailed reports from the research studies are available here.
Naughty Boys and Girls
Customer campaign to change Nationwide's online banking, Better Banking Online
Insider Trading Charges for 14, Some Tied to Galleon (New York Times)
JP Morgan agrees $75m bribe fine (BBC)
UBS fined £8m by the UK regulator (BBC)
Shoplifting rings and weak economy spur retail theft (Daily Finance)
Citigroup
Citigroup, get a strategy already (The Deal)
Could Citi lose its Mexican bank?
(CNN)
Markets
Should the Financial Services Authority be a private individual?
(Times)
Some Wall Street Year-End Bonuses Could Hit Pre-Downturn Highs (New York Times)
Trichet Signals First Step in ECB Exit From Emergency Stimulus
(Bloomberg)
Quote of the Day
"The ATM may never have been an instant hit if it weren't
for a natural disaster."
How a Blizzard Saved the ATM
(Blogging Innovation)
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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...
