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The Finanser’s Week: 18th December – 24th December 2017

This week’s main blog headlines are …

Happy holidays and one last piece of 2017 news

Merry Christmas and a Happy New Year everyone. That’s 2017’s blogging over for me. Back on January 2, 2018, with more news about my new book coming out in March, Digital Human. A few comments: “Skinner presents a compelling vision of the future of financial services …

The Top FinTech Trends of 2017 … were they?

The other forecasting I made at start of year concerned the big FinTech trends of 2017. Again, I thought it might be of interest to revisit them. Removing friction from the customer journey I guess this is a given, and wasn’t a big trend of 2017 …

Did my 2017 predictions come true?

Back in January, I made 10 predictions for 2017. Let’s see how near or off the mark they were: The FinTech buzz continues, but not in the USA (look East) WRONG. According to KPMG’s Pulse of FinTech report, Q3 2017, I’m wrong. Asia was doing …

91% of consumers have no idea what Open Banking is

I was moderating a panel discussion about Open Banking and the panel’s opening was some research presented by Steve Ogborn and Benedict Ireland of the Unlimited Group. The guys said that only 9% of consumers had heard of Open Banking. That means 91% had no …

Change my bank? Not on your nelly!

I had a realisation the other day: banks are brilliant. Everyone says they hate banks, but I love them. In fact, I think most people secretly love their bank. They just don’t like to admit it. After all, when did you last change your bank? …

 

The latest news headlines …

Bitcoin lottery launches in Ireland – The Irish Times
First jackpot of 1,000 bitcoins, currently valued at €14.2 million, kicks off on Monday

Top 10 Retail Banking Trends and Predictions for 2018 – The Financial Brand
Financial institutions struggle with complex regulations, legacy systems, new technologies and competitors, and an increasingly demanding customer base. Insights from a crowdsourced panel of 100 financial services influencers, industry analysts and banking providers combined with the results from a global research study helps identify future trends and strategies for long-term growth.

Bank’s olive branch increases chance of Brexit deal City can live with – The Guardian
Bank of England casts itself as model of reasonableness in allowing EU banks to continue operating in UK Smart move by the Bank of England. While Michel Barnier, the European Union’s chief Brexit negotiator, is warning about UK banks losing their passporting rights to operate in the single market ,

Payments regulator urged to prevent ‘ATM deserts’ in parts of UK – The Guardian
Treasury select committee concerned about Link network changes that could put 10,000 charge-free ATM’s at risk The UK payments regulator is being urged to intervene in the row over changes to the Link network that has led to fears that parts of the UK could become “ATM deserts”. Nicky Morgan,

Michel Barnier is ‘Scrooge’ to rule out bespoke Brexit deal, City bosses say – The Telegraph

Bitcoin falls almost 20 percent from recent peak to one-week low – Reuters
TOKYO (Reuters) – Bitcoin fell more than 10 percent on Wednesday to a one-week low of $15,800 at cryptocurrency exchange Bitstamp <BTC=BTSP>, losing almost one- fifth of its value from a peak hit just three days ago.

Five big banks to miss ‘Open Banking’ deadline as changes designed to boost competition near – The Telegraph

Is Monzo the Facebook of banking? – The Guardian
It is a truly unusual thing – a bank young people are excited about. But while its speed and ease of use are impressive, there is a problem – it’s not making money

Lloyds taps £20bn of Bank of England funds to boost profits not lending – The Telegraph
Britain’s biggest mortgage lender Lloyds has been accused of “immoral” behaviour for using billions of pounds of cheap central bank funding to boost profits rather than increase lending.

UK banks face fines as immigration checks on account holders loom – The Guardian
New rules force banks and building societies to inform authorities if name matches Home Office migrant database Banks and building societies face fines and public sanction by the City regulator if they fail to conduct thorough immigration checks on current account holders from January. From the start of 2018, banks

 

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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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...

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