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The Finanser’s Week: 24th June – 30th June 2019

The main blog headlines are …

Platform, marketplace, ecosystem … buzzword bingo!

I encounter lots of banter about platforms, marketplaces and ecosystems, and do wonder in the flippant way people use them interchangeably whether they really understand what they are talking about. I’m sure many do but I’m also sure some people throw them into the conversation …

Partnering in the ecosystem is not easy

Talking of partnering, many years ago, I was assigned the role of negotiating a contract with a partner for a large technology firm. The partner specialised in the insurance markets, my focus at that time, and we got into the game of contract wording. For …

When code is art, how do you attract great artists?

I was having an interesting conversation with a guy who had joined a big bank having previously worked in Big Tech. The guy was headhunted by the bank to be a gamechanger (GC), and had been gifted the ability to do almost whatever he wanted …

What is banking in the cloud?

Over ten years ago, I started blogging about cloud computing and financial services. Many banks dismissed the idea back then as “the regulator wouldn’t allow it”. Then the regulator did allow it in some countries, but banks were confused about the regulatory position. For example, …

Is Big Tech good or bad for banking … the regulator’s view

Following on from Facebook’s announcement of its own digital currency Libra, the key regulatory body of banking – the Bank for International Settlements (BIS) – which sets standards like the Basel capital reserve requirements, has stepped into the debate and produced a report on their …

 

And the top news headlines this week are …

Startup bank Aspiration is trying to be the anti-Wells Fargo. It’s working – CNN
An online bank backed by Leonardo DiCaprio is luring hundreds of thousands of Wells Fargo’s customers by promising to be the opposite of the scandal-tarred big bank.

JPMorgan Chase in talks to invest in UK fintech – Financial Times
10x Future Technologies was set up by ex-Barclays boss Antony Jenkins

‘The UK is headed towards a cliff edge’ – two experts on the economic outlook – Guardian
Two former members of Bank of England’s rate-setting committee on Britain’s prospects Rising risk of no-deal Brexit slows UK growth as pound slides Professor of economics at Dartmouth College in the US and member of the Bank of England’s monetary policy committee (MPC) from 2006-09 Continue reading…

Fintechs face Libra challenge – Financial Times

Wine and chauffeurs: ANZ under pressure after NZ boss’s $400,000 in expenses revealed – The Guardian
Questions over how chief executive David Hisco was allowed to run up large expense accounts and over wife’s purchase of a bank property Pressure is mounting on the ANZ bank board after New Zealand’s central bank ordered two independent reviews into the company’s conduct following the departure of its NZ

Monzo valued at £2bn after fresh funding round from US – The Guardian
Digital bank takes £113m from investors led by Y Combinator, jumping rival Revolut in value Digital bank Monzo has doubled its value to £2bn after closing a fresh round of investor funding. The valuation of the London-based bank leaped as it confirmed it had raised £113m from a group of

Barcelona orders first expropriation of ’empty’ flat owned by a bank – The Telegraph

Has Deutsche Bank left it years too late for a turnaround? – Telegraph
Deutsche Bank’s marathon shareholder meeting last month did little to pacify its furious investor base. “We are faced with a pile of s***,” an activist investor said during the nine-hour event, while another shouted: “If even Pope Benedict XVI can resign, why not [Deutsche chairman] Paul Achleitner?”

U.S. regulators ask Deutsche Bank to explain ‘bad bank’ proposal – FT – Reuters
U.S. regulators have sought explanation from Deutsche Bank AG about its “bad bank” proposal and its impact on U.S. operations at the loss-making German lender, the Financial Times reported on Monday.

Facebook’s Libra cryptocurrency ‘poses risks to global banking’ – The Guardian
Move could affect competition and data privacy, warns Bank for International Settlements Facebook ’s plan to operate its own digital currency poses risks to the international banking system that should trigger a speedy response from global policymakers, according to the organisation that represents the world’s central banks. Although the move

 

 

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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