A summary of the main blogs of the week …
The Semantic Regulator (#RegTech Rules)
A bank has to make a regulatory change every 12 minutes. That’s some task. A bigger question must also be: how can a regulatory check that a bank is compliant with their regulatory changes, if their regulations change every 12 minutes are run to 1,000’s …
Bank regulations change every 12 minutes
I recently spent a day in a meeting discussing Governance, Risk and Compliance (GRC) … yawn. Well, it is a bit of a dull area, but highly important. In fact, what gets me is that regulations are the big ticket barrier to change in banking. …
The New Bank is 100% different to the Old Bank
I realised the other day that I didn’t have a good slide comparing the old bank world with the new. I often refer to it with the line that banks were built in the last century for the physical distribution of money as paper in …
Banks are extinct … oh no, they’re not
Curating the daily news yesterday, I was surprised to see an article published by Wharton Business School that irritated me. Wharton Business School is one of America’s Ivy League Universities up there with Yale and Harvard. It should be publishing informed insights but this post …
So I’m in a conference that’s talking all the time about B2B2C models. I guess that’s because there are a lot of FinTech startups focused on the B2B2C structures like Leveris, Thought Machine, Solaris, RailsBank, ClearBank, CBW and more. But these are not B2B2C structures. …
The key headlines of the past week include …
After the Wells Fargo scandal, millennials deserve a ‘Netflix model’ for banking - Recode
The days of traditional banking, and the hegemony of big brand-name banks, are coming to a close as consumers demand more transparent, responsive and honest treatment.
How Banks Can Keep Up With Digital Disruptors - Wharton Business School
Traditional CEOs are terrified of digital disruptors, remembering how the once-mighty Blockbuster was dispatched by Netflix or how taxi services were upended by Uber, for example. Bank CEOs are no exception.
What the World’s Biggest Bank Bosses Say About Brexit Exodus - Bloomberg
Frankfurt and Dublin are emerging as the biggest winners at London’s expense as banks prepare for Brexit by planning new hubs in the European Union.
How we nailed the crooked HBOS bank boss who cost us £11million - Daily Mail
Lavish cruises on superyachts, sex parties with porn stars, holidays to Barbados… the exploits of the crooked bankers found guilty this week of plundering £1billion from small firms defy belief.
Atom Bank has raised £100 million and will announce within weeks - Business Insider
British app-only bank Atom is set to announce an equity investment of close to £100 million ($125 million) in the next few weeks with support from its existing investors.
Pound surges after Donald Trump's trade chief Peter Navarro accuses Germany of abusing euro for own gain - The Telegraph
City lobby group comes out fighting for global Brexit in dramatic u-turn - The Telegraph
Banks in crisis talks as half of ATMs under threat - The Telegraph
More than half of Britain's ATMs could disappear from high streets if banks are unable to agree on a new deal to pay for the machines at a crisis meeting being held on Thursday.
Eurozone 'destruction' necessary if countries are to thrive again, warns former ECB hawk - The Telegraph
The Knights' tale - BBC
Why did a 12th Century religious order start offering financial service
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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...
