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The Finanser’s Week: 1st April – 7th April 2019

The main blog headlines are …

Alipay and Visa announce global QR code venture

We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular. As Wedbush’s Moshe Katri noted payments on the card …

Time for a global FinTech platform?

I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different. It’s hard to go digital if …

Time for a global regulator

I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. There were some interesting reflections in that dialogue, however. I guess it falls into three categories: the way regulations …

UPDATE: The Blockchain Hype is Dead!

For those fooled by yesterday’s spoof news about Alipay and Visa, did you notice it was April 1? If not, you should have clicked the link in the blog. Talking about spoof news, I think my blog Blockchain is dead upset a few blockchain enthusiasts. Don’t …

Who owns the data? Who’s in control?

I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more. One …

 

And the top news headlines this week are …

Santander introduces tailored fraud warnings on banking app – Money Savings Expert

Santander customers will receive tailored warnings about different types of fraud when they transfer money through their banking app, as part of anti-scam measures being rolled out this month.

Barclays executive David Pomphret charged over killing wife – The Telegraph

If You Launched a New Bank Today, What Would It Look Like? – The Financial Brand

Banks of the future are supposed to be all digital, all the time… right? So why are many new banks still using the traditional community banking model? Today’s typical de novo institution is not quite your dad’s old bank, but it’s not a fintech fantasy either.

IT meltdown bank TSB: It’s as good a week as any to announce we’re taking back control – The Register

IT meltdown bank TSB is taking control of its technology and banking platform amid speculation about the bank’s relationship with Spanish owner Sabadell.

How Much Do Banks Spend On Technology? – Forbes

Citing a recent study from UBS on US banks’ tech spending, Business Insider reported that: JPMorgan, the highest spender, has a $11.4 billion technology budget this year,

UK should leave EU with no deal, says former Bank of England governor – Guardian

The former governor of the Bank of England, Mervyn King, has attacked MPs over their handling of Brexit and called for Britain to leave the EU without a deal after six months of preparation.

Tandem: how using a hipster bank caused me seven months of heartache – The Telegraph

Big banks are boring, right? Why stick with your stale, old high street bank when there are dozens of new upstarts eager to take your business.

Goldman Sachs’ Marcus product chief quits – Financial Times

Former Facebook executive Michael Cerda joined the bank just two years ago

Ex-HSBC staff voice anger over bank’s pension clawback – Guardian

Campaigners battling one of the world’s biggest banks over the “grossly unfair” way it treats the pensions paid to some former workers are getting ready for a David and Goliath showdown next month.

Swedbank and Wells Fargo: all look too good to be true – Financial Times

Departures mark fall from grace of banks revered as models for post-crisis banking

 

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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