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The Finanser’s Week: 4th February – 10th February 2013

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Our biggest stories of the past week are ...

Good news for all
banks … except Britain’s

I mentioned that I’d just attended the branding in banking
conference this week. It was organised by the Banker Magazine, and is in its
seventh year of operation. The headlines this year are: The UK is the only top
10...

Another day, another
outrage - who cares?

Yesterday morning I attended a seminar on bank brands. I’ll
blog a bit about that later but there was one part that I found fairly
intriguing that had to do with the overall value of bank brands returning to
near...

The bank that removes
the friction will win

Talking of no-one giving a jot about customer service in
banking, there is a subtle nuance here which I thought someone might have
spotted or commented upon but … The nuance is that any organisation that takes
friction out of...

UK Banking Reform
Bill: George Osborne's speech in full

UK Chancellor George Osborne gave a speech yesterday on
banking reform in Britain.  Widely quoted
extracts from the speech have been posted in today's news headlines but, for
those who like to make their own mind up, it's worth reading the whole speech
in full.  So, here it is …

UK bank reform is the
wrong solution

So George Osborne, the UK Chancellor, made a big speech at
JPMorgan’s HQ in Bournemouth yesterday. The speech announced the details of the
UK Banking Reform Bill which will implement the recommendations of the Vickers’
Independent Commission on Banking (ICB).. 

New York frickin'
City

Just spent the weekend in New York City, or New York
frickin’ City as the locals say. When they say this, they are of course
referring to the great industrialist and financier Henry Clay Frick who left
them this wonderful...

 

The major general news stories of the past week include ...  

Stephen
Hester: Libor scandal 'disgusts and depresses' me
- The Telegraph
Stephen Hester, the chief executive of RBS, said he was "disgusted"
and "depressed" by the the behaviour of the 21 emloyees investigators
said rigged Libor at the bank.


'It's
just amazing how Libor fixing can make you that much money': Traders gleefully
admitted rate fixing was 'cartel'
- The Independent
RBS traders gleefully admitted Libor setting had become a “cartel” as another
raft of damning emails gave the reputation of the industry a fresh beating
today.


Irish
government 'to liquidate bank'
- BBC
Emergency legislation to liquidate the former Anglo Irish Bank has passed
through both houses of the Irish parliament.


Transforming
the culture at Barclays will be easier said than done
- The Telegraph
'So, Mr Jenkins, are you 'shredding' Bob Diamond's legacy?"


Study
Highlights Digital Wallet Market Potential, Current Adoption Barriers
-
Payments News
comScore has released a new report entitled, "Digital Wallet Road Map
2013" which measures consumer awareness, perceptions and intent to use
current digital wallet offerings. "Digital wallets represent an innovative
technology that has not yet reached critical mass among consumers due to a
variety of factors, including low awareness and


Visa
probed over currency conversions
- Financial Times
Visa is also alleged to have banned other businesses from offering the service
at automatic teller machines from October 2007


FSA
gives green light to 'crowdfunding'
- The Telegraph
The Financial Services Authority has for the first time approved a website
which allows members of the public to take direct equity stakes in small
unlisted businesses.


Government
to reform payments system to speed up banking
- The Telegraph
Chancellor George Osborne unveils plans to speed up payments by debit cards,
credit cards and cheques as part of wider banking reforms.


Sick
of your bank? Now you can switch account within a week – by law
- The
Independent
Customers will have the right to switch their bank account to a rival firm
within a week under sweeping plans to reform the industry to be announced by
George Osborne today.


Visa
sued by Australia regulator
- BBC
The Australian Competition and Consumer Commission sues credit card company
Visa for alleged misuse of market power.

 

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Chris Skinner Author Avatar

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...

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