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The Finanser’s Week: 23rd January – 29th January 2017

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A summary of the main blogs of the week …

Laundering-as-a-Service (a bank USP)

I was surprised the other day when I met Pawel Kuskowski, CEO and Co-founder of Coinfirm, a start-up firm offering Compliance-as-a-Service.  Pawel has been trained in compliance and AML, having worked with some of the world’s biggest financial institutions including AIG (Compliance Officer), UBS (Director …

The AML conundrum solved?

I outlined yesterday the fact that 98% of money laundering goes unchecked, allowing $1.6 trillion a year to be used for terrorist funding, drug dealers, sex traffickers and possibly worse.   This was prompted by a conversation about AML (Anti-Money Laundering) with the CEO and Co-Founder of …

Technology is key to banking future … really?

It’s intriguing to see how the world has now got the FinTech message.  The Telegraph ran a conference about it (I was there); The White House has published a report on it;  America’s Celebrity Apprentice has one of our own on it; and The Banker …

11 FinTech trends you need to follow

The first few weeks of 2017 bombarded us with articles predicting the future of fintech and financial services.  I’ve now analysed them all and identified the top 11 trends that the leading banking and FinTech experts agree we should be following now.  Here’s the trend breakdown: …

The biggest innovations in retail banking (research)

OK, OK, OK, I promise to stop posting predictions and trends and blah, blah, blah, but this one has an interesting provenance and history.  Last year, one of my most read blog entries was this one: The top ten trends in banking innovation  (February 2016).  This was …


And this week’s top 10 news stories are:

Which country is the most corrupt in the world - and where does Britain rank? - The Telegraph

How Deutsche Bank Made a $462 Million Loss Disappear - Bloomberg
A dubious trade leads to a criminal trial for Europe’s most important bank.

CBI boss says Theresa May speech sent 'shockwaves' through EU businesses - The Telegraph

Britain's worst banks according to their customers - The Mirror
Which? found several of the biggest banks - such as RBS, NatWest and HSBC - came out bottom of its customer survey, while HSBC's brand First Direct was rated top.

The Monzo question: should you ditch the high street and do all your banking on your phone? - New Statesman
For a few days I see the word everywhere – but I don’t bother to Google it. It sounds like a lesser-known Muppet or a new type of sausage, and I resolutely ignore the mentions of it that seem to flood social media. But then, just as I’ve resigned myself to forget about the whole thing forever, a good friend messages me to say: “Would you like to try Monzo? I have a golden ticket.”

Once an intern at Citibank, Yes Bank’s Rana Kapoor is now India’s newest banking billionaire - Quartz
Rana Kapoor took a big risk when he founded Yes Bank in 2003. At that time, India’s banking industry was years away from turning into the site of great entrepreneurial success stories and the country’s billionaire club was still the forte of those with family-owned businesses, usually conglomerates.

Neo and Challenger Bank Customer Base to Grow by 50.6%, Globally, by 2020 - Yahoo!
According to a new report published by Allied Market Research, titled, "Neo and Challenger Bank Market-Global Opportunity Analysis and Industry Forecasts, 2016-2020," the collective customer base of the neo and challenger bank is expected to grow at a CAGR of 50.6% from 2017-2020.

Cyber attack locks Lloyds customers out of accounts - Daily Wail
A cyber attack on some of the UK’s largest banks left customers of Lloyds Banking Group unable to access their accounts.

'The swamp is Goldman Sachs': how the bank is rewarded for putting profits over people - The Guardian
In a persistent drizzle on 17 January, a group of protesters swathed in green ponchos unfurled tarps and sleeping bags on the sidewalk in front of Goldman Sachs’ high-rise building on the West Side highway in New York City. A few of them wore handmade swamp creature masks; others bore signs with the swamp creatures on them. A light-board sign declared the bank “Government Sachs”.

Bank exodus? - BBC
Is the UK witnessing a sudden exodus of bankers in the wake of Theresa May's confirmation that the UK will be leaving the European single market?


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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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