Our biggest stories of the week are ...
We had an excellent presentation from Giles Andrews, CEO of Zopa, at the Financial Services Club this week.
The Long Now and #innotribe at #Sibos
I was going to write another big piece on a big question that we'll talk about at SIBOS this year - it's a big banking tradeshow in Amsterdam from 25-29 October as most of you know - and then got this video from Mariela at SWIFT and it says most of what I would say.
Want to know how smalltown bankers feel?
I received an email from a rather angry CEO of an American Community Bank although I think we can all empathise with this letter, particularly as these guys receive the same ire that the big Wall Street boys get from the media and public.
PSD and SEPA need stronger direction
The Financial Services Club has just released the outcome of this year's survey on the Payment Services Directive (PSD) and Single Euro Payments Area (SEPA), sponsored by Logica, Dovetail and Earthport. Although 85% say the PSD transposition process has been successful, over half (54%) of the respondents say that SEPA is not succeeding, compared to only 24% who think it is.
If you are unaware, a book has just been released by our good friend Ruth Wandhofer on the Payment Services Directive titled: EU Payments Integration - the Tale of SEPA, PSD and Other Milestones Along the Road.
So I’m out and about in the town of London again, and the first thing I’m asked about is teddy bears. Hedge fund manager’s teddy bears to be exact. It’s all to do with the bad behaviour of one Paul Greenwood.
The major general news stories of the week include ...
Two Norwegians worked out how computerised system of US -based broker would react to certain trading patterns – allowing them to influence the price of low-volume stocks
Lloyds job cuts break 20,000 barrier as another 4,500 go - The Independent
Lloyds Banking Group sparked renewed fury among unions yesterday after the part-nationalised bank axed another 4,500 jobs. The Unite union said the company, which is 41 per cent state owned at a cost to Britons of £20bn, had now cut more than 20,000 jobs since the taxpayer stepped in to
London Stock Exchange - Financial Times
The race for super-fast speeds needs some steroid testing
'New regulator will fail without top-notch staff', warn finance chiefs - The Telegraph
The heads of some of the largest financial bodies in UK and Europe have warned that the new financial regulator that will supersede the Financial Services Authority (FSA) will not work unless it attracts the correct calibre of employees.
Cashless Payments in India - A Roadmap
A recent paper from the Indian Institute of Technology Bombay explores why cash payments are so predominant in the Indian retail sector, in spite of the huge inroads made by payment cards in recent years. The card payments data shows that even though we have 19 million credit cards, 190
Bank bail-out 'a good investment' - BBC
A director of Lloyds banking group suggests taxpayers should be delighted with the opportunity to invest in stricken banks.
Banks 'complicit' in corruption - BBC
A Global Witness report accuses four UK banks of accepting deposits from Nigerian politicians accused of corruption.
City in uproar over new bonus rules - The Telegraph
The City of London faces one of the biggest threats to its competitiveness after the publication of new pay rules for European banks.
Investment banking: The big squeeze - The Economist
Why the industry’s best days may be behind it EVEN by its own notoriously cyclical standards, investment banking has been on a stomach-churning ride in the past five years. After an apparently golden age, with quarter after quarter of record profits, came the bursting of the debt bubble, a deluge
Senior bankers lobby global regulators to help keep Britain competitive - The Telegraph
Secret meetings held on banking pay to avoid Britain being put at a disadvantage on the world stage.
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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...
