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The Finanser’s Week: 21st October – 27th October 2019

The main blog headlines are …

Why decentralised currencies are a PEST!

Sometimes you debate stuff and a realisation comes. I had one of these today. When futurists talk about the future, they generally based their opinions on forces of change, known colloquially as PEST. Political, Economic, Social and Technological change. So I was having this debate …

Google versus Government

I’ve been noticing that there are more and more issues arising with the big internet giants. Unlike in China, where the companies are working with governments, the big Western giants work outside government control. That creates issues, particularly in Europe where government does not like …

For Whom The Tweet Chimes: the problems of being cloud native and open

Banks are control freaks. I’ve blogged about that often. I’ve also blogged often about how they need to move to be open and partnering. That’s not easy. It’s obviously easier to launch a brand new bank, fresh with no legacy and open to everything, isn’t …

The Digital Corporate Bank, Part Two: Real-time Payments

Following on from the discussion of payments in the cloud, I was recently asked by Volante Technologies to consider what being a digital bank means for a commercial bank’s payments and treasury services and identified three areas of focus: moving payments to the cloud; fast-tracking …

What’s the latest on #Brexit in banking then?

I’ve avoided any commentary on Brexit in recent times, as it seemed to be going nowhere. Finally, just ten days before deadline, the House of Commons voted that a deal could be done … just not in the deadline given. So, it now looks like …

 

And the top news headlines this week are …

Metro Bank posts loss during ‘challenging’ time – BBC
The £3.6m loss follows an accounting scandal and billions of pounds of customer withdrawals.

Superyachts and private jets: spending of corrupt super-rich revealed – The Guardian
Groundbreaking analysis finds £300bn of suspect funds funnelled through the UK The multimillion pound spending habits of corrupt members of the global super-rich – including 421 luxury homes, three superyachts, seven private jets as well as elite private school fees and even hovercraft – have been revealed in a groundbreaking

UK cyber-centre targets payment card fraud – BBC
Banks are being told which payment cards to watch by government cyber-experts targeting online thieves.

Revealed: The passwords putting you at most risk of cyber attacks – The Telegraph

Infosys starts probe into alleged ‘unethical practices’ by CEO; shares tank – Reuters
Infosys Ltd said on Tuesday it was investigating allegations of “unethical practices” by Chief Executive Officer Salil Parekh after receiving whistleblower complaints last month, sending its shares into a tailspin.

Life after Libra: how regulators could fuel rise of digital currency – Financial Times
Facebook’s project to ‘reinvent money’ may lead to reform of global financial system

Top fund manager forced to resign after BBC investigation – BBC
Mark Denning, who managed billions of dollars of investors’ money, broke investment rules, the BBC finds.

Citi signals confidence in post-Brexit London – Financial Times
Timezone and rule of law are big advantages for UK capital, says bank’s regional head

World economy is sleepwalking into a new financial crisis, warns Mervyn King – Guardian
Past crashes spawned new thinking and reform but nothing has changed since 2008 banking meltdown, says former Bank of England boss Larry Elliott: The global economy needs to change fast The world is sleepwalking towards a fresh economic and financial crisis that will have devastating consequences for the democratic market

Fidelity’s search for the technology of tomorrow  – Financial Times
Buffeted by falling fees and rising costs, the asset manager is investing heavily in an effort to remain competitive

 

 

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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