This week’s main blog headlines are …
The wealth divide is growing and threatening
A final reflection on the way of the world before getting back to FinTech and banking. Whilst on holiday, we became interested in buying a property in Dubai, and began making enquiries. It soon transpired that this would be a dream, as the average price …
Millennials: are you cool or history?
Another musing whilst on holiday is that it is difficult to get into the head of a twenty- or thirty- something millennial when you’re a Gen X or Baby Boomer. In my head, I still think I’m 20 but, when I look in the mirror, …
Fast cycle change: building a new world
I just had a nice holiday in Dubai. The hotel had a huge mixture of Asians, Russians, Indians, Europeans and even a few Americans. It was lovely. Geared up for families, there were rug rats and strollers everywhere. This got me thinking. Yet again, I …
Half of banks’ customers don’t trust them
I was reflecting on this year’s Edelman Trust Monitor, a global survey of trust amongst consumers that has been running for 18 years. This year’s results prove fascinating, as there has been a slump in confidence in the media over the past year, due to …
The disappointing arrival of Open Banking … and the optimistic future
Finally, just over a week ago, Open Banking came into the UK and Open APIs into the European Union. I am sure you all know what this is all about by now but, just in case, it is the regulations that force banks to share …
The latest news headlines …
Bank of England payments glitch causes delays for wholesale bank transactions - The Telegraph
Tesco poaches RBS boss to lead its banking arm - The Telegraph
UBS to start moving City jobs 'early this year' ahead of Brexit - The Telegraph
Do Consumers Really Want to Bank With Amazon? - The Financial Brand
Cornerstone Advisors conducted a survey of 2,015 US consumers between the ages of 21 and 72 who own a smartphone and have a bank account, and asked respondents what they would do if Amazon offered them a bank account.
Why do banks take different approaches to fraud? - The Independent
The question of who should bear the loss when a banking customer falls victim to a scam is a thorny one. After all, if a customer has been defrauded by a criminal then it seems unfair that they alone should suffer the entire loss.
City hiring to rumble on despite Brexit as Bitcoin boom creates jobs - The Telegraph
Customers can go hang at RBS, where profit is the only motive | Kevin McKenna - The Guardian
In closing rural branches, the bank continues to reveal its true colours If you ever want to know about the trail of greed, incompetence and lies that led to the collapse of the Royal Bank of Scotland then you must read Shredded: Inside RBS, the Bank That Broke Britain by
US banks suffer 20% jump in credit card losses - Financial Times
Rising soured debts raise concerns about the financial health of middle America
'World's richest 1% get 82% of the wealth', says Oxfam - BBC
The gap between the super rich and the rest of the world widened last year, claims Oxfam.
Monzo to phase out popular prepaid cards by April - Financial Times
Customers must upgrade to a full current account to continue to enjoy travel perks
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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...
