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The Finanser’s Week: 3rd July – 17th July 2016

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Here are our key posts for the past two weeks …

ANZ don’t need to change core systems … yep and Father Christmas might visit too

Well I couldn’t let this one go by without commenting on it.  A regular theme in the blog is get rid of old technology if it’s running core systems.  The reason is that systems designed before Mark Zuckerberg was born are surely not fit for …

Legacy people is why we use legacy systems

I talked about the legacy problem yesterday and, in reality, the problem isn’t just the legacy system. It’s the legacy people and legacy customer. The legacy people are the ones who sit in the organisation and resist change. They know where their cheese is and …

The compelling case to replace a 40-year old core system

I tried to make some allowance for ANZ running a 40-year-old core system yesterday, by pointing to the fact that people are slow to change and there may well be no compelling reason to switch a legacy system. Even though I’ve tried to make the …

The 40-year-old Version

As mentioned, ANZ are happy keeping their 40-year-old version of a system – why does that always remind me of some movie title – and I have decided to shut up about this after one last blog update.  This one is a final piece of perspective …

Que sera, sera, whatever will be, will be

The Bright Future The year is 2030.  Europe grows from strength to strength, after the harmonisation agreements between the German Finance Minister, the European Central Bank and the European Parliament for the clearance for Quantitative Easing and bailout funds for Italy in 2018.  This was …

The case for bitcoin (or something like it)

I can remember a few years ago that the UK pound was almost at the level of being valued at $2.  Two dollars to the pound.  Amazing.  I brought a lot of American stuff that year.  Yesterday, I bought something and it was $1.30 to …

The 6 biggest trends in #Fintech today

When someone sends me something interesting, I can’t help but share it so this insight from Susan Visser came at just the right moment.  Susan and I have exchanged various ideas over the years, so here’s her view of the key Fintech trends. Summary Data is having …

Four big buckets of banking change, and the implications therein

I sat through a discussion of FinTech last night.  The theme was how FinTech is changing the business model of banking and a bunch of bankers focused upon the issue.  From the dialogue, there were clearly four big buckets of change: Regulations and how they …

The best blockchain research papers, Q2 2016

I’ve published a few summaries of the best of blockchain research earlier this year (February and March).  There’s been a load more since, but Brave New Coin has curated a nice summary of all those that came out in the last quarter.  As they publish my content sometimes, here …

Banks are doing something good (for a change)

We spend much of our time berating the banks and beating them up, but it’s not always the case.  Every now and again, I like to write about the specific good that banks do.  For example, 5 of the top 10 Charitable Companies in the …

The FinTech Weekly Round-up by Anna Irrera

Friend of the Financial Services Club and journalist with Financial News Anna Irrera has recently started producing a weekly roundup of FinTech news.  She’s kindly agreed to let me republish this summary here on The Finanser, so here goes: Once upon a time it was all blockchain!blockchain!blockchain!…Now …


This week’s major headlines include …

Philip Hammond appointed chancellor - BBC
Former Foreign Secretary Philip Hammond is to take over as Chancellor of the Exchequer from George Osborne, who has resigned from the government.

George Osborne - BBC
George Osborne has only ever had one cabinet post, chancellor of the exchequer and has been in charge of the nation's finances since 2010. How will he be remembered?

Business optimism deteriorates 'out of all recognition' in UK after Brexit vote - The Telegraph

Unicredit to raise €1bn in two days by selling stakes in other European banks - The Telegraph

Post-Brexit bank boost ‘more powerful than QE’ says Carney - The Telegraph

Italy 'facing 20 years of economic woe' - BBC
The IMF says Italy faces two decades of stagnant economic growth as it downgrades its forecasts.

Delays to Brexit could turn UK into ‘zombie member’ of the EU, says HSBC - The Telegraph

HSBC avoided US money laundering charges because of 'market risk' fears - BBC
US officials refused to prosecute HSBC for money laundering in 2012 because of concerns it would cause a "global financial disaster", a report says.

Banks predict Italy will fudge a new bailout  - The Telegraph

Brexit could deliver 'significant' blow to eurozone, ECB warns - The Telegraph


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Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog,, 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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