Home / Blog Index / The Finanser’s Week: 9th July 2018 – 15th July 2018

The Finanser’s Week: 9th July 2018 – 15th July 2018

The main blog headlines are …

The Golden Age of Banking is a bit like England winning the World Cup

There’s an argument raging that few have heard. The argument is whether it is the rebirth or death of banks. Many vote for the latter, but the former seems to be winning. Banks are reborn. Ten years since the financial crisis hit, many of the …

As a bank fires its robot, will the robots fight back?

If you didn’t catch the big news of yesterday, it was the first public firing of a robot. In this case, a bank’s chatbot, Amelia. Amelia was launched last year by Swedish bank Nordnet, with the aim of speeding up customer onboarding and improving customer …

Want a slice of an ICO? Watch out!

I find it quite surprising to see statistics around ICOs, such as the fact that $13.7 billion has been raised by ICOs so far this year alone. $13.7 billion! In what? Well, the 10 biggest ICOs this year are: Telegram: $1.7 billion Dragon: $320 million …

How much did Nigel Farage make out of #Brexit?

I picked up Bloomberg’s Business Week in the airport lounge at the weekend. It always has interesting reading, but this one stood out because of the front-page cover. Of course, it should have occurred to me that Brexit was a great way to make money, …

Crypto? It’s only illegal if we say it is

I haven’t blogged about cryptocurrencies and blockchain for a while, as it’s been a bit too much for a while. There’s massive coverage everywhere, but what’s the reality? The reality is that a lot of this is nascent change. There are young tycoons making millions, …

 

This week’s top news headlines are …

A new golden age of banking? – Euromoney
When asked by the moderator “Is there a bull case for the profitability of the banking industry?”, Jamie Dimon replied: “You’re going to have a golden age

Wait goes on for ‘instant’ payments – BBC
A backlog of payments – including wages – that were blocked by a IT problem on Sunday has yet to be cleared.

A Swedish bank has fired its world-famous AI assistant, Amelia – Business Insider
Leading Swedish online bank Nordnet is letting go of its AI co-worker Amelia as a result of underwhelming performance, reports Dagens Industri (Di).

Standard Chartered Europe boss defends bank’s culture after spate of resignations – ITV
Standard Chartered’s Europe boss has defended the banking giant’s work culture following a spate of recent resignations amid allegations of misconduct by senior staff. Tracy Clarke, regional chief executive for Europe & Americas and head of its private bank, stressed that she has observed a “strong” and “inclusive” culture during her 32 years at the lender.

Cryptocurrency Concept Is a ‘Fallacy’ Says Finnish Central Bank Advisor – Coindesk
Using digital currencies synonymously with the term cryptocurrencies, a paper published by the Bank of Finland and written by one of its advisors argues that cryptocurrencies aren’t real forms of money.

Two-day wait for ‘instant’ payments after fault – BBC
Bank customers are left with overdraft fees following a fault in a major payments system in the UK.

Banks told: Look, your systems WILL fail. What is your backup plan? – The Register
Banks were today told to assume there will be problems with systems and to work on their backup plans following a series of failures caused by increasing reliance on technology.

Payments system hit by IT glitch – BBC
A backlog of payments is being cleared after a problem with a major system for transferring money.

JPMorgan Chase launched an online bank for millennials called Finn, and I prefer it to the real thing – Business Insider
JPMorgan recently rolled out a mobile bank aimed at young millennials who don’t need branches. I tried it and I definitely like it more than my traditional Chase account. But there’s also some weird things about it.

UK fight against money laundering is fragmented and overwhelmed, MPs told – The Telegraph

 

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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, 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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