Our biggest stories of the week are ...
So how would you build a bank?
If we were creating a bank today, how would we create it? This is a question that comes up regularly and I haven’t tried to answer it for a while, but thought I’d give it a go this week, as...
Interesting reaction to yesterday’s kick-off about a new bank with some asking: where’s the customer focus? The customer focus is clear, but the first thing is to clearly define the customer. My customer is not a demographic. They are not old or young ...
Creating a bank that makes money
So how are we going to make money in this brand new bank? This is the toughest question as it’s quite easy to make money in finance by focusing upon rate churn. Just offer lower interest rates on loans and...
In the last of my explorations of building a new bank, here's why the new bank will win. One of the biggest things that constrains existing banks is their past. They were created over a century ago to manage retail...
Will mobile carriers really leave the business of banking to banks?
I find it funny to think about the lengthy discussions of mobile that takes place these days at all the banking and payments conferences I go to. The more this goes on, the more I find myself sceptical of the banks approach and more supportive of the opportunity for the non-banks.
The major general news stories of the week include ...
Visa Unveils Digital Wallet Strategy - Payments News
Visa has announced the "next generation of payments solutions that will replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital eCommerce, mobile commerce and burgeoning social networking commerce environments. New offerings are expected to include a secure cross-channel digital wallet and a range of customized
HSBC planning huge cost-cutting - BBC
HSBC wants to save up to £2bn by cutting the scale of its wealth management and retail divisions.
EU’s Rehn Warns of ‘Devastating’ Impact of Greek Restructuring - Business Week
The European Union stepped up warnings against a restructuring of Greece’s sovereign debt, saying such a move would have “devastating implications” for the country and the euro area as a whole.
European banks face tough new stress tests - The Telegraph
Europe's largest banks will undertake a new round of stress tests next year that will be tougher than any they have yet faced, according to a senior official with the European Commission.
Telephone torture - BBC
One man's story of being hounded for his debts
Cavalier finance industry has killed the incentive to save - The Telegraph
The causes of Britain's poor savings rate are doubtless many and varied, but right up there at the top of the list has to be an age old problem - why would anyone want to save with a financial services industry whose modus operandi seems to be to feast on
PPI: Why it's time for change at the British Bankers Association - The Telegraph
Finally the British Bankers Association (BBA) has done something right, but it may be the last thing that Angela Knight does as the trade body's chief executive.
Why the banks must follow Lloyds and fold on the PPI scandal - The Telegraph
There is a story, possibly apocryphal, that when Eric Daniels made his first trip to Brussels to discuss what Lloyds Banking Group would be forced to sell as part of the bail-out deal he planned to take with him an army of lawyers.
Sunday Times Rich List 2011: Barclays duo named Britain's richest high street bankers - The Telegraph
Former Barclays banker Roger Jenkins has been named Britain's richest high street banker - with a fortune worth an estimated £150m.
Basel III to hit money fund sector - Financial Times
The $4,400bn global money market fund industry could end up becoming one of the biggest losers from the post-crisis regulatory clampdown on the banking sector.
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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...
