This week’s main blog headlines are …
Build or Buy or Build and Die?
I was having a chat with a banking buddy who was expressing his frustration with the fact that their PSD2 developments were not going the way he wanted. He had found a nice little FinTech start-up with a really neat Open API capability which could …
How does a financial curator make money?
After my blog yesterday, about banks having to move from being control freaks in a proprietary operation building everything to becoming collaborative partners in an open marketplace curating everything, I was asked: “how do you make money out of curation?” It’s a good question, as …
90 minutes a year in a branch versus 45 hours on an app
We had a great meeting of the Financial Services Club this week with guest keynote Derek White, Global Head of Customer Solutions for BBVA reporting directly to the CEO, Carlos Torres Vila. Derek is responsible for the drive to transform the customer value proposition, including …
12 reasons why banks don’t innovate
I just got back from the ICEEfest in Bucharest, Romania. It’s a fantastic expo organised by Dragos Stanca and his team, and was very enjoyable even with the master of ceremonies, Jeff Leach, taking the mickey out of me. Jeff is an actor and comedian, …
I have had many, many conversations about reaching the millennial customer. We need to be attractive to millennials? Millennials think differently, how do we reach them? Millennials are rejecting banks, is that right? Blah, blah, blah, blah, blah. The conversation seems to be one amongst …
The latest news headlines …
Startup bank Atom receives £30m boost - Digital Look
Fintech-focussed startup bank Atom received a state-sponsored cash injection this week, with £30m injected into the firm from British Business Bank.
Tesco Bank customers hit by computer problems - BBC
Hundreds of customers of Tesco Bank have been unable to access their online accounts, after the company suffered a second day of computer failures.
A 17-Minute Film From a Bank Just Won the Entertainment Lions Grand Prix at Cannes - Adweek
A bank in Spain has won the Entertainment Lions Grand Prix at Cannes for a sci-fi thriller short film that questions whether money is more important than experiences.
New Zelle app could mean the end of the bank ATM - WCPO
Some of the country's biggest banks are teaming up to launch Zelle, a person to person money transfer system, via your smartphone, that almost eliminates the need for ATM visits.
PayPal Launches Instant Cash Out - PYMNTS
There needs to be an asterisk now in the part of PayPal’s history that describes its founder’s vision of creating a payments ecosystem that would let any person “beam” money to any other person — instantly — so that the money could be used anywhere they wanted to spend it — instantly.
SFO granted a reprieve from plans to scrap it a day after Barclays charges - The Telegraph
Why does Barclays face criminal charges from the SFO? - The Telegraph
Eight ways to spot a friend or family member is in debt - BBC
The Money Advice Service explains the tell-tale signs that someone is in financial trouble
Klarna gets a full banking license, gears up to go beyond financing payments - Techcrunch
After Anders Holch Povlsen and his firm Brightfolk bought up a stake of at least $225 million in Klarna earlier this month, today the profitable Swedish payments startup, now valued at over $2.25 billion, is stepping up its game. Klarna has announced that it has picked up a full banking license from Finansinspektionen, the Swedish Financial Supervisory Authority.
Almost 1m UK bank customers will be forced to use new sort codes - The Guardian
Almost 1 million UK bank customers will be forced to have to use new six-digit sort codes as the high street lenders implement rules intended to make the financial system safer, a Bank of England official has said.
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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...
