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The Finanser’s #SIBOS Week: 18th September – 25th September 2011

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For those who are that interested, here are all the blog entries made during the week at SIBOS in one place ...


SIBOS 2011 - what will be the big themes? 
We should be talking about risk.

And so SIBOS begins 
First impressions.

Brett King launches Movenbank at #sibos #innotribe 
Brett King, author of Bank 2.0, is launching a new bank based upon facebook and gaming,

Gartner and #innotribe get social 
The key tech themes of mobile, social, big data and cloud are consistent.

Citigroup's keynote at #Sibos ... nil points 
Sorry to my friends at Citi, but I was seriously underwhelmed by John Havens, COO for Citigroup's speech.

I said RMB, not Rumba 
Lots of opening thoughts seem to be focused upon China and the importance of the Remnimbi.

Banks wasting billions on inefficient clearing 
In today's keynote plenary, it's clear that banks are spending at least $20bn on clearing and settlement ... and wasting a large part of it.

Rogue traders and big data 
The innotribe stream discussed lots of things, but the link between rogue traders and big data made me wake up.

Operatic arias and sigh boats 
A summary of the day two evening, including awaking to find the eurozone is melting down!

Video: the Future of Money 
The innotribe team made a special video on the future of money ... here it is.

Banks should build their business models as APIs 
According to one speaker at the morning session on new economies, banks should just throw their functionality out to the community as APIs.

Growth will come through regulatory arbitrage 
The second plenary big debate was a corker, especially when all the banks admitted that they would have to look for regulatory arbitrage as it's in their shareholder's interests.

The #innotribe startup challenge final - here we go! 
200 companies applied for the innotribe startup challenge.  The two winners get $50,000 each.  Here's a review of the ten finalists.

SWIFT's strong commitment to innovation 
Lazaro Campos is clearly 100% committed to innovation with SWIFT.

The Future of Facebook 
The premiere of a video and an amazing statistic that facebook credits are processing $50 billion a year.

Banks must learn how to do regulation and innovation 
Banks seem to focus more on regulation than innovation.  They must learn to deal with both in equal order.

#innotribe drums drown out short-sighted journo 
The funniest moment of SIBOS 2011 as the drums are told to keep quiet.

And so SIBOS ends ... until next year 
A closing session with Brett King, the SWIFT leadership and Osaka beckons.

Reflections on SIBOS 2011 
This year's SIBOS had a certain smell to it ... do you know what it is?


Meanwhile, in the rest of the world, here are all the top news stories ...

UBS's biggest investor attacks bank's lapses - The Independent
UBS's biggest shareholder heaped pressure on the Swiss bank yesterday by criticising it publicly over the £1.5bn loss inflicted by an alleged rogue trader.

Misys pay plan is 'wholly excessive' - The Independent
Misys investors should vote against the software company's pay plan, which could reap its chief executive a payday worth more than 900 per cent of his salary, Pirc said yesterday.

The domino effect in Europe's debt crisis - BBC
Which country could fall to the next downgrade?

Lloyds curtain call lines up final bow for Win Bischoff - The Telegraph
Exactly three years on from Lloyds TSB's acquisition of HBOS, the final curtain has fallen on the deal's management team.

Lloyds finance director resigns - reaction - The Telegraph
Lloyds Banking Group, the 41pc taxpayer-owned lender, is look for a new finance director after Tim Tookey quit to join the insurer Friends Life. This is how the industry reacted to the news:

Vickers reforms force banking industry to face reality - Financial Times
The UBS scandal has been taken as a powerful endorsement of proposals for reforming the UK banks but, in truth, no such endorsement was needed

Banks must 'more than double profits' to meet capital requirements - The Telegraph
Banks across Europe and North America must more than double their profits by 2015 if they are to meet the capital requirements likely to be imposed on them over the next few years, experts have warned.

Non execs have 'little idea' on risk - The Independent
Many non-executive directors have little idea about the risks in their companies and are not sufficiently independent of management, according to a survey of internal auditors.

Google Wallet Likely Launching Tomorrow - Techcrunch
Last week, Google posted an awesome teaser video for Google Wallet featuring George Costanza. The implication: Google Wallet would finally be launching soon. Now we think we know when: tomorrow. As you can see in the above image, documentation is being sent around to partners stating a September 19 launch

String of fake UBS trades uncovered, says bank - Financial Times
Fuller picture emerges of how accused trader Kweku Adoboli trader could have allegedly racked up $2.3bn in losses.


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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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