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The Finanser’s Week: 4th March – 10th March 2019

The main blog headlines are …

It’s only words … why values and missions are questionable

I go around a lot of banks and am always struck by their similarities and differences. To be honest, there are more similarities than differences. Most have big corporate offices, with great views over their home cities; their branches are now well-lit stores with open …

Trust me, I’m a banker …

There’s a lot of talk about trust when you meet with people in finance. Customers trust us with their money … there is trust in banks … we are trusted when it comes to advice … our brand is a trusted brand. I usually keep …

Are banks customer focused?

I’ve talked a little about TechFin in the past but, in my presentations, I talk more and more about TechFin versus FinTech. FinTech is doing what we’ve always done, cheaper and faster and better with technology. TechFin is reimagining everything with no idea of what’s been …

Will bank brands survive in this digital world?

We were having a debate about brand loyalty in a mobile world. The discussion began with talking about how it used to be complex with dealing via branch and call centre; then it was branch, call centre and online; now, it’s branch, call centre, online …

A land down under … can you hear the banks thunder?

I just had a week down-under in the land of the roo, and discovered that the RBA – Reserve Bank of Australia – has done an about turn in the last couple of years and encouraged some innovation in banking (at last!). As a result, …

 

And the top news headlines this week are …

Going contactless is convenient – for all the wrong people | Peter Ormerod – Guardian

The dash from cash doesn’t just contribute to social exclusion, it plays into the hands of unaccountable corporations How convenient. The decline of cash and the rise of electronic payments makes life so much simpler: no more rooting around in purses and wallets for slippery notes and clunky coins, no

Bank to scrap working from home to enable ‘better collaboration and quicker decision-making’ – The Telegraph

Turner resigns from Barclays in board clear-out – Financial Times

Five directors depart as bank looks to head off pressure from activist Edward Bramson

Why Crypto Companies Still Can’t Open Checking Accounts – Bloomberg

The gatekeepers of mainstream commerce are keeping their doors shut to cryptocurrency companies.

Investors Signal Strong Displeasure With Metro Bank’s Asset Misclassification – Forbes

Metro Bank stock investors reacted fiercely when the U.K.-based bank announced on Tuesday that U.K. regulators, the Financial Conduct Authority and the Prudential Regulatory Authority are investigating the circumstances and events that led the bank to assign much lower risk weights to its mortgage lending portfolio than the bank should have.

Venezuela removed 8 tons of central bank gold last week – Reuters

At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of President Nicolas Maduro’s desperation to raise hard currency amid tightening sanctions.

Bank of America Drops Merrill Lynch From Its Investment Banking Brand – Fortune

Bank of America Corp. will drop Merrill Lynch from its investment-bank brand, while keeping the name Merrill for wealth management.

UK banks hit daily by IT failures halting payments, says Which? – Guardian

Six of the biggest British banks found to suffer at least one major glitch every two weeks British banks are being hit by IT or security failures that prevent customers from making payments at an average rate of more than once a day, according to Which? Money. In the most

Mentally ill people pay higher bills – and banks are partly to blame | Emily Reynolds – The Guardian

Bad debt and mental health problems can be a vicious circle. Only by forcing banks to provide more help can this be addressed Money management is not easy at the best of times. Choosing the right deal, setting up standing orders, checking you’re not over or underpaying, switching providers –

After Saudi king’s letter, EU states move to block dirty-money list – Reuters

The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia as well as Puerto Rico and three other U.S. territories, is likely to be blocked by EU states under a procedure launched on Thursday, two EU sources said.

 

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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