Our biggest stories of the week are ...
You can never believe what you think
For years, marketing and market research firms have talked about demographics, using job, age and location as a way of targeting customers. The trouble is that it leads us down the road of ignorance, because we often use such classifications to stereotype ...
Customers need coaching, not channels
Building on yesterday’s blog, I was talking today about how banks deliver new channels to customers today. But the thing that really caught my eye is a tweet from Citi that says that customers need coaching, not education. But showing customers how to use their bank account properly costs money, in terms of staff time, so it isn't given. What does this mean?
There is no revolution in banking
I think I had an unusual spout of cynicism yesterday when, after realising that mobile and contactless and social is all the rage in banking, none of it is really hitting the mark yet. And, for all the hype, there is no revolution in banking ...
So we’ve had a long holiday in Britain for the past two weeks, what with Easter and some Princely chap getting hitched to a commoner. It’s left us all a tizz over here in blighty, so much so that I wondered what our new Princess might think about her bank ...
The major general news stories of the week include ...
Bank blamed as termites eat cash – BBC
An Indian bank finds staff at a local branch to blame after thousands of dollars worth of notes were damaged by termites, reports say.
Millionaire numbers set to soar over next decade - The Independent
The number of millionaires will soar by more than 70 per cent over the next decade, and the members of this elite club will control more than $200trillion (£121trillion) in assets, twice as much as they do now, according to the consulting firm Deloitte – another piece of evidence that
Russia issues arrest warrants for top banker - The Telegraph
Russia has issued an international arrest warrant for a top Russian banker who fled to London in March, setting up a possible extradition battle with the UK.
HSBC should quit US to raise $25bn - The Telegraph
Analysts have called for HSBC to ditch its American retail business in a move they argue would boost the bank's capital position by as much as $25bn (£15.1bn).
Barclays' Protium Deal is 'all that's wrong in the City' - The Telegraph
In its 2010 annual results, Barclays makes a small but telling disclosure. In note 14 on page 89, the bank reveals that on November 25, 2009, it reclassified £8.1bn of "trading assets" as "loans and receivables".
Toxic Barclays bankers bag £85m - The Telegraph
About 80 bankers have pocketed $140m (£85m) for just 19 months spent managing a raft of toxic assets for Barclays that caused the high street lender to suffer hundreds of millions of pounds of losses.
Lloyds to draw line under its toxic debt - The Telegraph
Lloyds Banking Group will this week attempt to bring down the curtain on a history of dealing with toxic assets as the new chief executive, Antonio Horta Osorio, tries to "clear the decks" at the state-owned lender.
Meet Antonio Horta-Osorio's top team at Lloyds - The Telegraph
On Thursday, Antonio Horta Osorio, Lloyds chief executive, will try to draw a line under the bank's toxic assets by unveiling his first set of results since joining the lender. Here, we look at the team he has assembled around him.
Santander UK profits hit by regulatory costs - The Telegraph
The UK arm of Spanish banking group Santander has blamed the cost of new regulations brought in since the financial crisis for a year-on-year fall in profits.
FSA fails to publish report into Royal Bank of Scotland collapse - The Telegraph
The Financial Services Authority is to admit defeat in its efforts to publish a comprehensive report on the failure of the Royal Bank of Scotland.
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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...
