The main blog headlines are …
Challenger banks don’t matter as they’re not a primary account
During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder. The start-up has just boomed through two million users and is growing at over 60,000 account openings a week or 10,000 per day. Some …
I annoy a lot of people. I don’t mean to. But anyone with a description of ‘troublemaker’ is going to annoy someone. What’s interesting is the different reactions I get from start-ups, technology firms, banks and internet giants. In general, the ones who seem to …
I just went through a conversation about my presentation for a forthcoming conference. They didn’t want to provide a prescriptive approach, and just asked what I talked about in general. That’s a challenge, as I once turned up at a conference and they said to …
I’m a technology lover. Always have been, always will be. To me, technology is like magic. “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke Too damn right Arthur. I love technology. But then I got to thinking about what technology is doing …
Alipay partners with six mobile wallets for Europeans
I recently started to worry that people might think I have some sort of arrangement with Ant Financial to publicly endorse them, as I’m such a fan-boy. I talk about what Alibaba, Ant Financial and Alipay is doing in every presentation, blog about them a …
And the top news headlines this week are …
IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil - Coin Telegraph
CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric, Cointelegraph Brazil reported on June 12.
This branchless bank quadrupled its customer base to 4 million in a single year - CNBC
Chime, a digital bank without a single branch, is picking up steam. The San Francisco based start-up took about four years to reach its first million customers, crossing that threshold in May 2018 by luring users with the promise of no-fee checking and saving accounts.
Square Wants You to Use Its Cash App Like a Bank Account - Barrons
Square will continue to push hard to maximize revenue growth, Evercore’s Rayna Kumar said in a Wednesday note following a meeting with company executives.
Goldman Sachs offering to pay for Marcus bank’s customers’ silence - New York Post
Goldman Sachs really, really, really doesn’t want you to sue the company. The Wall Street investment bank quietly offered this week to pay all the fees for customers who bring legal claims against its new consumer bank
JP Morgan's 180 On Its Stand-Alone Digital Bank Underscores The Adoption Challenges Facing Crypto - Forbes
JP Morgan is one of the largest, oldest, and most prestigious banks in the world. However, it does not let its pride get in the way of abandoning an initiative that had little chance of success, and that is what it did this week when it rolled up its stand-alone digital bank Finn.
The heavy cost of policing financial services - Financial Times
The UK spends far more on regulating the finance industry than on fighting organised crime
Deutsche Bank axe hovers over 1,000 clients - Financial Times
Termination letters sent to blue-chip companies in push to meet money laundering rules
‘I knew the bank would spend any amount to crush me’ - Financial News
My efforts at making conversation with John Banerjee, the former trader who blew the whistle on RBC after the Canadian bank’s London operation wrongly fired him, are falling flat.
May I have a word about… the brave new world of banking and fintech | Jonathan Bouquet - Guardian
Long gone are the days when bankers’ communiques were short and to the point… In olden days, communication from the bank was often along the lines of: “Dear sir, I’m more than distressed by the state of your current account. Could we please revert to the situation whereby you bank
Why embattled UK stockpicker may be canary in coal mine - Financial Times
Neil Woodford’s problems exemplify a broader risk of poor liquidity for investors
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...
