The main blog headlines are …
For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests. The requests would get prioritisation and be delivered in sequence over …
I’ve been grappling with what sets apart the banks that I think are truly digital from the rest, and realised the other day that it is because they have digital to the core of the bank. They don’t just think the bank has to adopt …
Doing digital needs the Board’s mandate
Another key factor in building a truly digital bank is commitment. Commitment right from the top and, by the top, I don’t just mean the CEO and the leadership team, but the Board of the bank. Quite often, a digital transformation of a bank requires …
Digital banks are led by clear customer-obsessed principles
Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Not the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer. This is something I’ve found quite rare in most banks, …
Digital banks look more like Big Tech and vice versa
I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. People with experience at Netflix, Alibaba, Amazon and Tencent are in strong demand, especially those who can code. …
And the top news headlines this week are …
Citi appoints veteran banker as new Emea chief - Financial Times
Santander recruitment farce puts greed and hubris centre stage | Nils Pratley - Guardian
Andrea Orcel parable shows how little has changed at big banks since the 2008 crisis The tale of how Banco Santander hired Andrea Orcel as its chief executive, and is now dropping him because it will not pay a €50m golden hello , is a mini classic. All the familiar
Ivanka Trump for World Bank president? - Channel News Asia
There is speculation that the President’s daughter is among the names thrown into the mix to replace the current president, Jim Yong Kim, who recently announced his departure.
Deutsche Bank's Future Lies in the Hands of These Six Players - Bloomberg
Deutsche Bank AG ended 2018 as the worst-performing European banking stock following a string of scandals and what looks to be a weak final quarter.
Blow To Bitcoin As International Bank Makes Stark Warning - Forbes
Bitcoin has struggled over the last 12 months, as both the bitcoin price and development stalls, with a so-called crypto winter gripping the sector, stifling investment and interest from the traditional financial industry.
This new online bank offers cash-back rewards, impressive interest on savings, and no-fee transactions - Business Insider
The personal-finance startup Empower is part of new wave of online banks giving customers better banking features. With lower overhead costs, they can offer attractive cash-back rewards, higher savings interest rates, and no-fee transactions.
Santander abandons 'unacceptable' cost of new chief Andrea Orcel - Guardian
Compensation for past remuneration of ex-UBS banker proves too expensive Banco Santander has ditched its incoming chief executive after the former UBS investment banker proved too expensive for the Spanish lender to hire. The bank originally announced Andrea Orcel’s appointment in September and had settled the terms of his annual
Pessimism clouds UK banking as demand for services drops - The Guardian
One in three banks suffer a fall in business as Brexit uncertainty, regulation and market volatility bites British banks have suffered their first drop in demand for five years as Brexit uncertainty, regulation and market volatility took their toll. The latest CBI/PwC Financial Services Survey showed the financial services sector
Digital bank Tandem eyes IPO as customer numbers continue to surge - The Telegraph
Digital bank Tandem has unveiled plans to float on the stock market within the next five years, as interest in fintech companies continues to swell.
Barclays to abolish passwords for phone banking - The Telegraph
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...
