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Shaping the future of finance

The Finanser’s Week: 7th December – 13th December 2009

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The biggest news stories of the week include ...

City in uproar at plan for bonus 'supertax' - The Independent
Barclays chief Bob Diamond warns windfall tax on bank bonuses not in line with G20 - The Telegraph
Will Obama tax the Banksters? - the New Yorker
UK and France 'agree on banking' - BBC
George Soros warns against rebuilding same 'Humpty Dumpty' financial system - The Telegraph
Tobin tax remains Treasury ambition - Financial Times
Lehman Brothers' Dick Fuld, Jeremy Isaacs and Roger Nagioff 'return' - The Telegraph

And our biggest stories of the week are ...

A happy medium for marcroprudential supervision

In the dialogue of the past week or so, an interesting theme has emerged.  The theme is globally harmonised rules.In fact, there appears to be a tectonic plate shift towards some form of global neutrality.

I was asked to give a view of the future for banking.  My feeling is that banks must be able to manage their
business in real-time, with real-time risk, real-time payments and
real-time security becoming critical; whilst combining such capability
with deep analysis and mining of customer data to become far more
customer proactive.

I’ve had a couple of good debates in the last week or so about
the value of real-time everything.  One of the more insightful comments came from one commercial banker who
posed the question: "if a corporate client can see all their
financial positions in real-time, what's the point of a treasurer?"  It created a lot of discussion as we realised that selling real-time
cash management was about as attractive to a treasurer as getting a
turkey to vote for Christmas.

40 days of the PSD

forty days since the introduction of the Payment Services Directive
(PSD), soit's a good time to review its progress and how
it’s working or not working.

Thomas Bostrøm Jørgensen, CEO of mobile payments and
financial solutions firm Luup, presented at the FSClub the other day.  He spun an interesting story, particularly around the tripartite models
emerging of mobile financial services, where they are either bank-led,
carrier-led or a bank-carrier partnership.  That split is interesting as, at some point, the models will have
to come together. The question is how?

Gordon Brown's entente cordiale

Much has been made today of the fact that Gordon Brown and Nicolas Sarkozy have jointly written an opinion piece
in the Wall Street Journal. Like some new entente cordiale, this is
fantastiche to see the coup de grace of global leaders working in
partnership.Here are some highlights from their article ...

The name's Green ... James Green

Travelling around recently, hotels only seem to have English speaking news channels on the TV.  Boring.  Then there's the adverts and suddenly Sean Connery comes on saying, "eesh time fwor green banking".

Tiger Woods and Accenture

Accenture has sponsored Tiger Woods since 2003, pretty much since they launched as a new brand.  What will they do now that he has had a reputational dive?


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Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog,, 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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