This week’s main blog headlines are …
There were lots and lots and lots, literally, of focus upon mobile and financial inclusion in my Sudan conference. I guess because only 4% of the adults who live there are banked. You heard me, just four percent. There are over 20 million people of …
I sometimes feel like a really, sad person. I wake up every day wondering what’s new with tech, FinTech, the world. I go to conferences and, instead of delivering my keynote speech and disappearing, normally hang around to hear the other presentations, as I might …
2017 has been a wild and fantastic year for cryptocurrencies, especially bitcoin. Everyone was wondering whether they should buy bitcoin. That was back when it was $500 a coin. Now it’s over $11,000 a coin. Funny year 2017. 2017 was when everyone thought they had …
I’ve recently noted a number of reports about Open Banking, with many published recently due to its imminent arrival on January 13, 2018. Source: IBM As can be seen, we have several different groups working on Open Banking. There’s the Payment Services Directive 2 (PSD2) …
I was at a recent cybersecurity conference where the head of Europol’s European Cybercrime Centre (EC3) was talking about the threats we face today from the dark web. After Silk Road, much of its illegal business switched to Alpha Bay. The authorities took out Alpha …
Innovate Finance has been working with the Department of International Trade (DIT) on a report on blockchain and the future of financial services. The report was developed with the help of the Economist Intelligence Unit and is now available here. The Executive Summary is as follows: …
The latest news headlines …
UK group adds bitcoin to cross-border payment service – Financial Times
Lloyds and MasterCard-backed Revolut to allow 1m clients to trade in cryptocurrencies
Behind the rusty vault doors of an abandoned Alabama bank – Daily Mail
Haunting images of an abandoned bank in Alabama offers a rare glimpse into a forgotten world ravaged by time.The desolate conditions of the now forgotten Jefferson County Savings Bank located inside the City Federal skyscraper in downtown Birmingham are captured in amazing detail by a local photographer.
The survival hopes of big banks may rest on machines – The Telegraph
Digital banking: a tough way to make money – Financial Times
It’s been a busy period for the UK’s fledgling digital banks. Since January, eight UK digital banks have collectively raised $600m and two challenger banks were acquired for $2B+.
Best banking apps revealed – Daily Mail
As more branches close and technology continues to takeover our lives, we’re being forced to interact with our banks in a different way. Mobile banking use is one the up – with a 57 per cent bump in transactions last year and 19.6 million people logging in regularly, according to the British Bankers’ Association.
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency – Foundation for Economic Education
In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.
Bitcoin investors hoping to make billions may end up with a sack of fool’s gold – The Guardian
The cryptocurrency may not be a threat to the world economy, but that should not stop regulators from protecting investors from it Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can
UK banks warn over EU rules to ringfence foreign capital – Financial Times
Lenders warn new proposals could force groups to exit European businesses
Nedbank cuts ties with McKinsey over Gupta scandal – Financial Times
Group is third large South African lender to distance itself from consultancy
Financial markets could be over-heating, warns central bank body – The Guardian
Bank for International Settlements’ quarterly health check warns global economy resembles era just before financial crash Investors are ignoring warning signs that financial markets could be overheating and consumer debts are rising to unsustainable levels, the global body for central banks has warned in its quarterly financial health check. The
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