A summary of the main blogs of the week …
Solving state corruption with technology
I try to generally avoid making political commentary on the blog as it’s not appropriate. This is a blog about technology and finance, not the economy and politics. Every now and again the two come together such as with Brexit and Donald Trump. Equally sometimes …
A disruptive innovation appears
I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors. Those …
For as long as I can remember, I’ve been hearing about a War on Cash. The war, as illustrated by India’s recent demonetization, is not on cash itself but on the illegal use of cash and, by association, the fraudulent creation of cash. Both fraudulent …
You want the red or the blue cheese?
I often make a keynote presentation – about two or three times a week – and try to change my presentation as frequently as possible so that those who see me two or three times in a month – and it does happen – aren’t …
If you liked it then you should have put a chain on it
I tweeted this the other day, and it got a lot of likes, so I thought I’d make it today’s blog title. We seem to have lost a lot of buzz on blockchain this year, even thought it’s still buzzing away as much as ever …
The key headlines of the past week include …
Monzo, a UK digital-only challenger bank, granted full banking license - Techcrunch
Monzo, one of a number of so-called “challenger” banks in the U.K. aiming to re-invent the current account, has had the “restrictions” on its banking license lifted and says it will begin rolling out full current accounts to its pre-paid card and beta app users.
Jamie Dimon admits 'not many' JP Morgan jobs will leave UK in major Brexit U-turn - The Telegraph
What Brexit means for the City - The Telegraph
Brussels starts probe of Royal Bank of Scotland plan to abandon W&G sale - The Telegraph
Elon Musk mocks short sellers after Tesla stock surge - Reuters
(Reuters) - As Tesla Inc's strong quarterly vehicle deliveries sent its stock to a record high on Monday, Chief Executive Elon Musk took a swipe at traders betting the luxury electric car company is on a road to ruin.
UK seeks to kill foreign bank rule - MENA
The UK is trying to kill a planned European Union rule for foreign banks that will become crucial for its own lenders after Brexit. Teaming up with Luxembourg, a host for many foreign banks' EU units, London declared its opposition to plans to force banks from outside the bloc to consolidate their activities under a single entity
Gloria Hunniford warns of bank fraud after scammers swindle £120k - Daily Star
The telly legend was devastated when she had £120,000 stolen from her savings account. She now reckons nobody is safe because con artists are more skilful than ever.
HBOS fraud ‘covered up for nine years’ - The Times
One of Britain’s largest frauds, which destroyed hundreds of small businesses that banked with Halifax Bank of Scotland (HBOS), was covered up for nine years, according to an internal report seen by The Sunday Times.
Virgin Money expected to make initial bid for troubled Co-op Bank - Daily Mail
Virgin Money is this week expected to make an initial bid for the troubled Co-op Bank in an attempt to dramatically expand its modest current account business.
Co-op Group plunges to 2016 loss as Bank stake is written off - Sky News
The Co-op Group will say next week that it believes its 20% Bank shareholding is now worthless, Sky News learns.
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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...
