The highlights of this week's blog include ....
Look at financial inclusion for innovation
I guess in concluding this weeks’ thoughts, I’m left reflecting on a similar idea to the one I blogged a couple of weeks ago about a world turned on its head. This time it’s a different take on the same conundrum. We live in the …
Are we globalising or localising?
I consider myself a citizen of the world. I guess that’s because I fly around so much. Everywhere I go, I find the same thing. Warm, fantastic people who welcome me like a brother and complain about the idiot running their country. This is common …
British bank has a third of its customers’ accounts hacked
We’ve seen some pretty strong attacks on banks cyberdefences in the past year. Three major incidents in the SWIFT network; 50 at the Federal Reserve; problems at the Bank of England and many other central banks; a major incident at the Danish payment processorNETS; and …
Who’s going to win the US election?
Today is the US election and what a terrible choice they have. You would think out of 320 million people to choose from, that they could have come up with a better two than these two. Anyway, I’m not American and it’s not my position …
And then there was our future series …
A glimpse of the future, part one
I know I talk about banking and technology most of the time, but I also have other topics of interest. Art, history, travel, fine wine … although I obviously look at them all from a banker’s point of view and wonder what it’s worth. All …
A glimpse of the future, part two – 70 is the new 30
As mentioned yesterday, there’s a big question about what all of this means for financial service. You may not have asked those questions but if life sciences allows people to live for 150 years or more; if babies can be born without defects; if you …
A glimpse of the future, part three: the internet of things
We talk a lot about the Internet of Things (IoT) and have been for a while. Most of us probably don’t see much of it yet. OK, so we have a smartphone but what other smart things do you have? Maybe if you’re in America, …
A glimpse into the future, part four: the internet of everything
I’ve talked often and in depth about the internet of things and how this affects banking. In the near future, when each of us has five, six, eight, ten things on the internet, we will be seeing a world where trillions of transactions take place amongst …
A glimpse into the future, part five: space
Well, finally we get to the part of this series I’ve been looking forward to writing about the most: space. No longer the final frontier as we’re conquering space fast. From landing explorers on Mars to capturing amazing images of Pluto, we have begun our …
A glimpse into the future, last part: space money
A final thought on the future from a banking perspective. So we will be colonizing Mars by 2040 according to Elon Musk. Why? Because this planet is not going to sustain the population it has emerging. When I was born there were half the number …
This week's top news headlines include ...
India scraps 500 and 1,000 rupee bank notes overnight - BBC
India's PM says existing 500 and 1,000 rupee banknotes will be withdrawn from the financial system overnight.
US investors prepare for ‘regulatory bloodbath’ - Financial Times
President-elect Donald Trump expected to axe unpopular rules introduced since crisis
Tesco Bank says attack cost it £2.5m and hit 9,000 people - BBC
Tesco Bank refunds £2.5m to 9,000 customers who had money taken in a weekend attack on accounts.
Indian banknotes change sparks worry in Mumbai - BBC
How do people feel about the the shock decision to scrap two of India's most widely used banknotes?
Tesco Bank: 20,000 customers lose money - BBC
Tesco Bank halts online transactions after it says money has been taken from 20,000 accounts.
Tesco Bank blames 'systematic sophisticated attack' for account losses - BBC
Tesco Bank's boss blames "a systematic, sophisticated attack" for the money taken from 20,000 customer accounts.
Investors shrug off more losses at Lending Club - Financial Times
Rising delinquencies and a governance scandal have hit online lender
Euro founding father Otmar Issing warns about project's future - BBC
Otmar Issing tells the BBC the eurozone is being undermined by mistakes, and that Greece, Portugal and Italy remain threats to its future.
Tesco Bank to freeze online customer transactions after hacking attack - The Telegraph
EU reconsiders financial market access rules - Financial Times
Strengthening ‘equivalence’ regime would be blow to post-Brexit City and US firms
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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...
