Home / Blog Index / The Finanser’s Week: 30th April 2018 – 6th May 2018

The Finanser’s Week: 30th April 2018 – 6th May 2018

The main blog headlines are …

Cryptocurrencies are not currencies

I’ve been watching the rollercoaster ride of cryptocurrencies very carefully for the last year, and it only struck me today that these are not currencies … yet. Apart from a few novelty vendors and merchants who put bitcoin on their websites, I don’t see many …

Challenging DBS: how do you measure digital innovation?

My friend Emmanuel Daniel, founder and Chairman of The Asian Banker, ran an interesting video dialogue recently, in a near hour long interview with Chng Sok Hui, chief financial officer of DBS. The whole video, audio and transcript of the interview can be found over …

Cash is not a good payment system … which is why we will get rid of it

I was recently interviewed by the highly innovative German bank Wirecard the other day, for their blog. They kindly said I replicate it on the Finanser, so here you go … Chris Skinner in Interview: “Cash Is Not a Good Payment System – We Need …

The future of money (research report)

I just got a report from J Walter Thompson on the future of money and there’s some interesting facts and stats. Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money …

Banks charged dead people fees for a decade

Everywhere around the world, I find politicians and bankers in dodgy practices. It’s because power and money go together. We’ve seen this clearly in EU and USA with LIBOR, CDOs, PPI, bribes, parties, prostitutes and more, and I was reminded of it when seeing a …

 

This week’s main news headlines are …

TSB tells customers: ask your local postman what your bank balance is – The Telegraph

Major Investment Bank Predicts Cryptocurrency Market “Wipe Out” – Cryptovest
GP Bullhound – an EU and American investment bank – reports a major wipe out of cryptocurrency prices will happen this year, taking 90 percent off the price of most currencies.

Elderly couple face losing home as interest-only loan crisis bites – The Guardian
Santander refuses to extend mortgage term because Len and Val Fitzgerald are in their late 70s An MP has claimed Santander is prepared to throw a couple in their late 70s out into the street because it has refused to extend their interest-only mortgage due to their age. Len and

TSB’s Paul Pester hits series of wrong notes in front of MPs | Nils Pratley – The Guardian
Bank’s chief executive failed on three fronts at Treasury select committee hearing after IT chaos Paul Pester, the chief executive of TSB, had three main tasks to perform at the Treasury select committee hearing on Wednesday. First, apologise with maximum contrition for the IT shambles and the hassle caused to

TSB customers stopped from switching after it told banks to suspend transfers – Money Saving Expert
A huge number of TSB customers have threatened to quit the bank after more than a week of online banking chaos. But some who have tried to switch since last Friday have found they are unable to do so – and have been told by the banks they’ve tried to switch to that this was because of issues with TSB’s systems.

Santander strikes debit card deal with MasterCard – Financial Times
First of the ‘big five’ banks to move from Visa as MasterCard seeks to grow in the UK

Lloyds, Halifax and Bank of Scotland customers locked out of online accounts – Money Saving Expert
Some Lloyds Bank, Halifax and Bank of Scotland customers have complained of problems logging into their online banking accounts today – as issues with TSB’s services rumble on.

‘We’re on our knees’: Inside the totally avoidable TSB crisis – Wired
As TSB’s banking meltdown enters its second week, chief executive Paul Pester has promised compensation and MPs are demanding answers. Will it be enough for the bank to save its reputation?

Uncovered: cruel scam so slick even the vigilant can be duped – The Guardian
A widow diagnosed with breast cancer was conned into losing her mother’s care-home fees Virginia Calder was returning from hospital following breast surgery when the call came. The voice said it was the Royal Bank of Scotland fraud team flagging up some unusual transactions on her bank account. Within hours,

TSB online banking meltdown drags into a second week – The Guardian
Users still facing problems with internet and business services after bungled IT upgrade TSB’s IT meltdown has entered its second week, with some customers still unable to access their accounts or make payments. One of the worst crises in British banking was caused by a botched migration of data from

 

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About 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...

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