The main blog headlines are …
How do you manage your digital death?
I just completed one of those things that none of us like doing, making a will. I recently had a major change of circumstances in my life, and decided that I should make appropriate updates and provisions. After all, who gets my Batman and Spiderman …
What is the worst thing a bank can do?
Banks are trusted guardians of our money. As long as our money is safe, then we trust them. It’s when our money is breached or lost that banks misbehave, which is why the 2008 financial crisis was so concerning. The run on Northern Rock and …
Why techies laugh at finansers and vice versa
There’s a quote I’ve stolen off John Oliver that bitcoin combines everything you don’t understand about finance with everything you don’t understand about technology. It’s a great line, and considering banking and technology are probably some of the most complicated things in our world, one …
The bank’s view of Open Banking
Another conversation about Open Banking, and an interesting point was raised by one bank. They said that they had been mapping financial moments – getting married, buying a house, having a baby, crashing your car, etc – and had started to reimagine the whole customer …
Digital smartphone banking is used by 97% of Asia’s developed market consumers
Over the weekend, I received a couple of interesting emails about things happening in Asia. The first is a translation of an announcement from the People’s Daily, the most official newspaper of the Chinese Communist Party, discussing digital currencies. The article is fairly high level …
The latest news headlines ...
Metro Bank shares slump on concerns further capital raise needed - The Telegraph
TSB under growing pressure as MPs and tech experts accuse bank of rushing botched IT upgrade - The Telegraph
High cost of more delay forced TSB to upgrade before it was ready | Nils Pratley - The Guardian
Using former owner Lloyds’ IT system was proving ruinously expensive for the bank It will be no consolation to those TSB customers suffering under the botched IT “upgrade” that the bank had originally planned to do the work last November when, one assumes, it would have been even more badly
Larry Summers just obliterated the Fed's bank stress tests with a single sentence - Business Insider
Lawrence Summers, the former US Treasury Secretary and former economic advisor to President Barack Obama, said the idea that all major US banks would be totally fine if economic and financial conditions deteriorate as sharply as some of the tests posit is simply not credible.
TSB could face fine for system outage and potential data breach - The Telegraph
Brexit: Five steps to understanding the EU customs union - BBC
Five steps to understanding it, ahead of a symbolic vote on the issue this week.
Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud - The New York Times
Hackers and con artists have used the system to steal from victims — some of whom had never used Zelle or even heard of it until someone used it to clean out their bank accounts.
Barclays boss Jes Staley faces £1m hit after hunt for whistleblower - The Telegraph
TSB customers report online problems - BBC
One man was credited with £13,000 he didn't have, and could see details of someone else's account.
Online merger to create first 'super-comparison' website - The Telegraph
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The Financial Services Club is sponsored by:
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...
