Our main stories of this week includes …
Who wants to be a (Fintech) Unicorn?
For the past year, there’s been lots of talk about Fintech Unicorns – start-up companies with over a billion dollar valuation launched since 2000. Jim Bruene at Finovate – register for Finovate Europe with 20% discount using FSClub20 – wrote about so many Fintech unicorns …
The heart of the blockchain use case: digital proof (Everledger case study)
I don’t normally blog about a particular start-up or specific company, but today’s an exception as there’s a company that’s caught my eye because it’s appearing everywhere. Literally every tech show I’m attending, they’re there and winning awards. This company won €30,000 in the BBVA …
There’s lots of discussions about financial markets and their different structures. Retail and commercial banking are likened to farms, whilst investment banking is a jungle. Retail and commercial banking have dull products likened to chickens. Look after them and they produce regular and predictable results. …
Who’s afraid of the big, bad bank?
I just discovered Thomson Reuters predictions for 2016 with two related to Fintech that stand out: There is no Uber of Finance Most Fintech start-ups will partner with or be acquired by banks Interesting. I have blogged before that the Uber of Finance is the …
Elon Musk: the real Tony Stark of the 21st century?
So I just got back from Hong Kong having keynoted at the NextBank FF16 Fintech Finals conference which ran Monday and Tuesday, in partnership with StartmeupHK. A highlight of the week was a fireside chat with Elon Musk, who appeared before a sold out invitation-only …
The past week’s major news headlines include …
RBS takes near-£7bn hit as chief executive announces bank 'clean-up' - Guardian
Edinburgh-based bank sets aside £2bn for US legal costs and PPI, writes down £498m from private bank Coutts and injects £4.2bn into pension fund Royal Bank of Scotland is to take a financial hit of nearly £7bn after announcing a string of charges for legal bills, compensation and a payment
Building society to close 22 branches - BBC
One of Britain's largest building societies announces it is to close branches and rebrand two of its mutual societies.
RBS announces major bank 'clean-up' - BBC
RBS announces a "clean-up" plan in which it puts aside more money for the PPI mis-selling scandal and for bad debts.
Mega payment 'caused HSBC fault' - BBC
A fault at banking giant HSBC that left thousands of people without their wages before a bank holiday was caused by a mega-payment being rejected.
How human traders will beat the machines - Financial Times
Advancement of computer-driven trading systems may sow seeds of their eventual obsolescence
Bonuses: bad for bankers, worse for banks - Financial Times
In finance, working for cookies is not an option but better alternatives to cash perks must be found
Europe's big banks remain wary of doing business with Iran - Guardian
Sanctions have been lifted but uncertainty over US authorities’ stance means banks are reluctant to handle payments A week after the lifting of sanctions against Iran, major European banks are still reluctant to handle Iranian payments as they remain wary of being the first to test the reaction of US
Enough is enough: Banks told to stop payments systems crashing - The Telegraph
Millions of Britons have been hit by glitches at RBS, HSBC and Barclays, and MPs have told bosses that they must get a grip of the problem
HSBC could decide this week whether to stay in UK - The Telegraph
Nine-month review of headquarters' location - fuelled by concern over bank levy rises - reaches conclusion
The world has glimpsed financial crisis. But is the worst to come? - Guardian
Plummeting oil prices and fears about China turned screens red in trading rooms around the world. Although things may have stabilised, some fear we are on the verge of another global recession They were studying the snow forecasts in Davos on Friday. But the 3,000 bankers and CEOs who had
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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...
