Our biggest stories of the past week are ...
A £30 billion banking mess (but it's getting sorted out)
I hosted a dinner
this week, where a group of senior bank executives involved in cleaning up the
PPI mess gathered to debate and discuss what had been learnt from the
experience. For those overseas readers who are unfamiliar with...
I generally meet two
types of bankers. The first is a technology sceptic. Their thinking goes
something like: There are many fads and fashions in banking and technology. A
few years ago, everyone talked about cloud. Then they’re all talking...
Remittances: a massive market snubbed by the banks
I recently joined my
friends at Anthemis – the guys investing in Fidor, Simple and Moven – for a
chat. They gave me a nice leaflet on the trends in remittances which I thought
worth sharing with y’all, as it’s...
What have music and
money got to do with each other? Visa knows. Visa just sent me a new white
paper on the similarities of the experiences of the music industry over the
past decade or so and the lessons...
A generational thing: why we don’t understand money
It’s interesting
looking at the attitude of various generations towards money. The War
Generation was raised to be in debt to no-one for nothing. Don’t take credit
and, if you do have to borrow, pay it off as fast as...
The major general news stories of the past week include ...
Church-backed
bid for RBS arm could herald ethical bank - The Independent
The Church of England is backing a bid for hundreds of branches being offloaded
by Royal Bank of Scotland, raising the prospect of a new, ethical bank on the
high street.
BNP
Paribas' UK traders say bank is 'holding gun to our heads' over new British
contracts - The Telegraph
BNP Paribas traders based in London say the French bank is demanding they sign
a British contract that removes some of their perks.
Summit
called on payday lending - BBC
Lenders, regulators and government ministers are being summoned to a summit
about the UK's payday loans industry next week.
VocaLink
develops mobile payments app Zapp - The Independent
Technology which will allow consumers to make payments using their mobile
phones is to be developed by the company behind Link cash machines.
Anglo
Irish bankers 'tricked' government into bailout - The Telegraph
Two executives at stricken Anglo Irish Bank caught on tape allegedly admitting
that lender suckered Irish government into €7bn bail-out.
Vocalink
to launch mobile payments scheme - Financial Times
Zapp service is scheduled to start next year, allowing customers to pay at the
till by scanning a barcode, or tapping a reader, with their phones
Red
tape forces Barclays to stop UK Somali workers sending cash home - The
Independent
Worldwide pressure is growing on governments to find a solution to the
withdrawal of banking to money service companies, which is hitting hard-pressed
communities in Somalia.
Co-op
Bank is losing its ethical edge - The Telegraph
After hurting investors the bank's standing in the marketplace has taken a big
hit, says Rosie Murray-West.
Want
advice from Barclays? You'll need £100,000 - The Telegraph
Barclays has stopped giving investment advice to customers with less than
£100,000 to invest.
Barclays
to sell on data from savers and track mobile phones - The Telegraph
Barclays Bank is to start selling data on its millions of current and savings
account customers to other companies for the first time.
If you like the Finanser, check out the books of the blog: the Complete Banker Series
The Financial Services Club is sponsored by:
For details of sponsorship email us.
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...
