Our biggest stories of the past week are …
Hello everyone and welcome to 2014.
The teenies, as this decade is known, is becoming a fascinating decade of change.
From fundamental change in the economic and political world, thanks to the financial crisis of 2008, to fundamental change of society thanks to the technology movements of mobile and tablet computing, this decade is a pinnacle of the forces for change.
I’ll talk about those forces for change through the week, but wanted to kick off with something a little more light-hearted to welcome y’all back to work, so here are some wild predictions for 2014.
Just before Christmas, I held discussions with many retail, commercial and investment bankers in London about their thoughts for the New Year. Here are the headlines:
I’ve talked about other folks ideas for 2014 and the key technology trends, as well as a few wild predictions. Today, I start the first of three blogs focused upon retail banking (tomorrow commerical banking and next week investment banking).
So here are my specific predictions for retail banks this year.
The year ahead of commercial banking is also a challenging one, as corporate needs are changing and technology is impacting their value and supply chains, as much as banks and, in some cases, if not more. I don’t think 3D Printing will be the big ticket change this year, although this is on the horizon for the future in collapsing supply and manufacturing cycles, but other areas are key.
First, there is the need to continue growth of transaction banking services and I guess that much of the focus of this blog entry will be on transaction banking rather than the wider sphere of commercial banking, as transactions is where I focus.
As we enjoy the headlines coming out of CES in San Francisco, I thought I’d take time out to share a few of my favourite visions of the future.
The major general news stories of the past week include …
Bank inquiry: Regulator says IT systems 'antiquated' – BBC
A regulator from the Bank of England has told the inquiry into Northern Ireland's banking system that he is a "very long way" from being able to say that UK banks have robust IT systems.
Banking rivalries: Drifting apart – Financial Times
Barclays and Deutsche are diverging in terms of global ambition and priorities. But it is through the men at the helm that the contrast is clearest
JP Morgan raised concerns over Bernard Madoff 10 years before he was arrested – The Telegraph
JP Morgan bankers raised concerns about Bernard Madoff 10 years before the fraudster was arrested over a $65bn Ponzi scheme
Goldman Sachs' predictions for the UK in 2014 – The Telegraph
Investment bank expects 3pc rise in GDP as trading partners and worker productivity pick up
Banking rivalry: UBS and Credit Suisse – Financial Times
In a special series, the Financial Times looks at three of the old banking rivalries and assesses their contrasting approaches to post-crisis banking
Co-op Bank investigations are likely to reveal just plain incompetence – The Telegraph
The lender's problems were easy to spot for those who chose to look for them
Why are the Mint countries special? – BBC
Which are the four 'Mint' countries and what makes them special?
The bank boss who likes to be different – BBC
No bonuses, no advertising – the bank doing things differently
Analysis: Euro zone – reasons to be wary in 2014 – Reuters
LONDON (Reuters) – Last year was the least tumultuous for the euro zone since Greece revealed a vast hole in its books back in 2009.
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