Here are our key posts for the past week …
I was talking with a technology firm the other day. They offer everything from cloud to core systems. Their issue is that the competition wins every time. Not IBM. Not Accenture. Not TCS. Not FIS. Not SAP. Not any of the big names you could …
Building on yesterday’s blog (Do bank’s need a CIO?) , the key misunderstanding is the role. Most banks thing the CIO is there to run the technology. They’re not. That’s what they used to do. That’s not the job for the future. First and foremost, …
As mentioned last week, the CIO’s role is changing from running an empire of maintenance engineers to organising a distributed development organisation. The change in the role is one from a hierarchical control structure, where everything is proprietary and internal, to a flattened organisation that …
I was at a conference the other day when the presenter showed this quote from the Wall Street Journal: The question is so simple it seems silly: What is a bank? Of course you know the answer. A bank pools savings and then allocates that capital. …
The Banking Bazaar and the Bizarre Banker
I’ve spent a lot of this week talking about marketplaces. We have a growing number of financial marketplaces appearing. Lending marketplaces, credit marketplaces, payments marketplaces and more. A marketplace is the bazaar. Market stall holders gather to meet with prospective clients, and the digital version …
Bankers should not be retailers [Wells Fargo]
5,300 Wells Fargo employees have been caught faking customer account openings in order to hit their sales targets. That sounds pretty disgusting doesn’t it, but it’s nothing new. In fact, we here in old America or, as some call it, Britain, have been living with …
An overdraft … is that someone who checks your first draft?
I got into a conference this week (for a change) where the presenter of a roboadvising wealth manager got into a bit of a Q&A scuffle with an audience member. Felix Niederer, founder and CEO of Zurich-based start-up True Wealth showed the stats for their …
This weeks top 10 news stories are:
Investment banks need another radical overhaul if they want to make money, says McKinsey - The Telegraph
Former Barclays executive challenges bid to ban him from the City for misconduct - The Telegraph
Deutsche Bank boss tells staff to think like a tech firm, if they keep their jobs - The Telegraph
HSBC retail head sees more bank partnerships with financial tech firms - Reuters
TORONTO (Reuters) - HSBC's retail banking and wealth management head John Flint expects banks to partner more with financial technology (fintech) companies in the coming years to help meet changing demands from customers.
Chancellor dismantles key Osborne pledge to cut corporation tax - The Telegraph
Bank of England has given Hammond £40bn of splurging room, economist says - The Telegraph
Inside the Bank of England's vaults: can cash survive? - The Telegraph
The Square Mile is the envy of the world - and leaving the EU shouldn't change that - The Telegraph
Banks find blockchain adoption difficult - Financial Times
Unprecedented transparency of transactions sits uneasily with financiers
Bank of England deputy Governor Minouche Shafik quits after just two years - The Telegraph
If you like the Finanser, check out our latest book: ValueWeb
The Financial Services Club is sponsored by:
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...
