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The Finanser’s Week: 22nd October – 28th October 2012

Our biggest stories of the past week are … 

Osaka, here we come!

Many of us are
gearing up for this year’s SIBOS – the big SWIFT jamboree that gathers all
those involved in payments worldwide … whoops, involved in transaction
processing worldwide. This year it’s in Osaka, Japan, and I’m on my…

An interview with Gottfried Leibbrandt, CEO of SWIFT,
about SIBOS 2012

Just in case you
didn't see it, the Banker Magazine has an exclusive interview with Gottfried
Leibbrandt, CEO of SWIFT, about what to expect at SIBOS 2012 and the company's
position in a rapidly changing global landscape. I'm reproducing it…

The future of payments and technology

 Andrew Vorster, Vice President of R&D and Adam Banks, Chief Technology
Officer for Visa Europe delivered a fascinating double act at the Financial
Services Club the other night. The theme of the presentation was: the future of
payments and technology…

Has your customer sold their soul?

Every time I click
on something online, I get this funny thing about agreeing terms and
conditions. The popup window appears and my brain shuts down. I just hit
‘accept’, ‘agree’ and move on. I guess the reason is that…

More reaction to the RBS glitch

After last week's post about the meeting we had at the Club
regarding the RBS glitch, I received an email from one attendee, Peter Miller.
 Well worth a read.

The World Payments Report 2012, Part One

The World Payments Report (WPR) has just come out. It is the 8th report produced by EFMA, in partnership with Cap Gemini and the Royal Bank of Scotland (ABN AMRO previously), and provides a good analysis of global payments movements…

The World Payments Report, Part Two

Ability to Innovate
is Challenged Amid Sea of Key Regulatory and Industry Initiatives: Regulators
have continued to implement the Key Regulatory and Industry Initiatives (KRIIs)
discussed in WPR 2011, and new initiatives have been introduced.

World Payments Report, Part Three: the latest on SEPA

Mandated deadline of
February 2014 is set for
SEPA Credit Transfers and Direct Debits: a deadline for migrating to
SEPA Credit Transfers (SCT) and SEPA Direct Debits (SDD) has been set at
February 1, 2014. The certainty of a firm deadline should trigger a major
increase in adoption rates for these instruments, though the potential for
inconsistent interpretation of the standards could still be an issue.

World Payments Report, Part Four: Innovation

Banks Need To

Seize Opportunity Of Customer-Centric Innovation: many banks are
increasingly shifting their innovation focus to customer-centricity, after
sustained success in driving internal improvements for better efficiency and
cost-effectiveness in existing operations. This shift will bring banks,
possibly through partnerships, more squarely into today’s horizon of innovation

The Finanser has
been nominated for a major Award as the best financial blog.  We would
really appreciate your vote if you want to make one 🙂  To vote click here. 

 

 

The major general news stories of the past week include  

Nationwide
considers bid for 316 branches that Royal Bank of Scotland is selling

The Independent
Nationwide Building Society is considering making a bid for the 316 branches
that Royal Bank of Scotland was due to sell to Santander, it was reported
today.


Santander
hits back at 'inaccurate' Barclays report
– The Telegraph
Santander has dismissed as "inaccurate" a research report by Barclays
analysts that warned the Spanish lender could need to raise nearly €18bn
(£14.7bn) in new capital.


RBS
under pressure to offload US business
– The Telegraph
Royal Bank of Scotland has come under pressure to sell its US business and
shrink its investment banking arm by the body charged with managing the
taxpayers' 82pc holding in the lender.


Vodafone’s
M-Pesa to Expand Money Transfer Routes to 35 Countries
– Payments News
Vodafone announced that next month, it will connect its M-Pesa service to a
leading international remittance hub, HomeSend operated by BICS. This will
allow M-Pesa customers to send and receive funds via their mobile phone
accounts by connecting directly to more than 21 international money transfer
businesses in 35 countries.


Lloyds
considers plan to ditch annual bonuses
– The Telegraph
Lloyds Banking Group is considering whether to ditch annual bonuses for senior
staff and extend the timeframe of longer-term incentives to up to 10 years, the
Financial Times reported on Monday.


Why
I Left Goldman Sachs: the highlights
– The Telegraph
Today sees the release of Why I Left Goldman Sachs by former bank executive
Greg Smith, who famously quit by sending his resignation letter to the New York
Times for publication. Here we look at the highlights of his book.


Who
are the muppets now? Goldman exposé falls short of hype
– Reuters
NEW YORK (Reuters) – The tell-all book that Goldman Sachs Group Inc former
equity derivatives salesman Greg Smith has delivered may end up being
remembered more for the marketing skills he picked up at the Wall Street bank
than for any bombshell revelations.


Sir
Mervyn King: no recovery until banks recapitalise
– The Telegraph
The British economy will not recover until the banks own up to their bad debts
and are recapitalised again, the Governor of the Bank of England has warned.


UK
banks will be forced to hold extra £150bn capital
– The Telegraph
The favourite to head a new banking regulator has said lenders will be forced
to hold eight times the capital they were required to before the crisis, as
part of tighter precautions to prevent the financial sector once again
"staring into the abyss".


Analysis:
If U.S. goes over fiscal cliff, dollar could fly
– Reuters
NEW YORK (Reuters) – In times of trouble, investors tend to flee to the comfort
of the U.S. dollar — even when the trouble is emanating from the United
States.

 

 

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About Chris M Skinner

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

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