Home / Blog Index / The Finanser’s Week: 7th September – 13th September 2015

The Finanser’s Week: 7th September – 13th September 2015

Our main stories this week include …

Will bank developments in China lead to a global banking revolution? [Part One]

This blog was first published on SAP for Banking, 12th August 2015.

I recently found some exceptional insights into how China is leading the world of banking, as we saw the opening of digital banks WeBank and MYBank. If you are unfamiliar with these two bank titans, they both launched this year as offshoots of QQ and WeChat (Tencent) and AliPay and ANT Financial (Alibaba) respectively. 

Will bank developments in China lead to a global banking revolution? [Part Two]

This blog was first published on SAP for Banking, 26th August 2015  and is Part Two or a two-part series.  Part One was published on 12th August.

Will Alipay and Wechat get Amazon and Google into banking?

No-one can ignore the developments taking place in China’s banking system, as their two largest internet players launched banks this year.  In Part One of this two-part series, we looked at the developments in China of simple payment systems through messaging apps like QQ and WeChat along with launch of internet only banks WeBank and MYBank from Tencent and Alibaba.  What does this mean for the global banking system, and will we see Google, Amazon and Facebook following similar paths?

More evidence of banks waking up to the digital reformation

I have seen several banks note, and particularly two in the past week, that shows the shift of thinking as we move to the hybrid world of technology and finance.  Most talk about Fintech start-ups but these two show a different perspective.  First, Derek White of Barclays talks a lot with Business Insider about blockchain and innovation.  A few choice words:

What do you get after the Internet of Value?

As mentioned last week, the new book is about the ValueWeb: the Internet of Value.  Amazingly, some people are already asking me what comes after the Internet of Value?  Let's begin with noting that your need the Internet of Value to allow the Internet of Things.  Machines cannot trade with machines if they don't have a real-time almost free value exchange system.  That real-time almost free system is the Internet of Value. 

A future of men ruling the financial planet?

Through the years, I’ve seen a few changes in finance and technology.  We’ve seen dress-down Friday move to dress-down everyday (if you’re a Fintech firm); we’ve seen borders and barriers breaking down between ethnicity and sexual preferences; and we’ve seen globalisation of activities.  But the one thing we haven’t seen enough of is diversity of gender.  There’s still a lot of Sexism in the City.  

The real reason for core systems refreshment

I’ve been advocating for some time that banks should refresh core systems.  A complete renewal of the back-end.  Everyone tells me I’m an idiot for saying so.  It’s impossible, stupid, naïve and impractical.  OK, I hear that.  I know it’s not going to be easy but, if a bank has systems built before Mark Zuckerberg was born, how can they expect to be fit for the real-time, free world of the mobile internet?


This week’s major news headlines include … 

Bank fraud accused found dead hours before court appearance – BBC
A former bank official has been found dead at his home just hours before he was due in court on fraud charges.

Monitise in crisis as chief executive jumps ship – The Telegraph
Mobile payments company loses half its stock market value on abrupt resignation and heavy losses

No marketing? No plan? How Handelsbanken hit 200 branches in the UK – The Telegraph
The UK arm of Sweden's Handelsbanken is growing rapidly despite keeping a low profile

Metro Bank Kicks Off Talks About £1bn Float – Sky News
Metro takes another step towards a flotation despite the threat of another Government tax raid on the sector, Sky News learns.

Deutsche Bank boss tries to rewrite future – Financial Times
John Cryan has weeks to rescue group’s five-year strategy

John McFarlane promises 18 tough months at Barclays – The Telegraph
Barclays' executive chairman John McFarlane tells staff he has to make some "tough calls" to get the bank back into shape by 2017

NatWest customers hit by another IT glitch that prevented them from making ATM withdrawals – The Independent
NatWest customers were hit with another technical glitch on Tuesday that left them unable to withdraw money at ATMs or use chip and pin facilities at tills.

Father of the euro fears EU superstate by the back door – The Telegraph
Professor Otmar Issing has warned against handing over control of tax and spending before a democratic political union has been established

Online lenders stuck on a hamster wheel – Financial Times
Doubts creep in over marketplace model’s ‘innovation’

Challenger banks have the best IT. Now for the tax battle – The Independent
Challenger banks received a vote of confidence today, four days before a crucial meeting with the Treasury over the “utterly counterproductive” bank surcharge


If you like the Finanser, buy Chris Skinner's latest book: Digital Bank


The Financial Services Club is sponsored by:

  BT Logo 

For details of sponsorship email us.

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...

Check Also

Things worth reading: 17th January 2018

Things we’re reading today include … Cryptocurrency Regulation Must Be Global, Says German Central Bank …