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The Finanser’s Week: 30th September – 6th October 2019

The main blog headlines are …

Banks are product not customer focused

I walked into a grocer’s store the other day. The store was resplendent with fruits of all colours and continents. There were red, yellow and green peppers; carrots, courgettes and cauliflowers; oranges, apples and bananas of both large and small; watermelons, honey melons and mangoes; …

Are challenger banks winning or losing?

I don’t get The Financial Times editorials these days. Last month, they published a ridiculous article about challenger banks eating the banker’s lunch – which I covered here as being the crumbs off the table of the banker’s lunch – and this month, they publish a …

A start-up’s month is a banker’s decade

I’ve heard many ex-bankers who joined a FinTech start-up, challenger bank or similar, say that they’ve achieved more in the past year than in the past decade. They claim to have achieved more with £1 million than they would have achieved before with £100 million …

Blockchain: a solution looking for a problem?

Being conference season, there were many announcements in the past week about headlines companies wanted to gain with their innovations. One of the main headline grabbers for me came from R3. These included: Mastercard partners R3 … R3 and Infosys complete blockchain trade finance trial Wells Fargo’s …

How UK FinTech took over the world

In case you missed it 11FS, as well as doing podcasts, have made a movie. The movie is all about the 11 years since the financial crisis hit and how the conditions led to the rise of FinTech and, specifically, UK FinTech. It’s an hour …


And the top news headlines this week are …

It has been a torrid week for Indian banks – Economist
Yes Bank has become an example of all that ails the country’s banking system

‘I was scammed by a fraud so ingenious even bank staff were fooled’ – Guardian
Charlotte Purcell was tricked out of her student loan by bogus emails claiming to be from Metro Bank Charlotte Purcell, 20, lost £940 of her student loan in a scam so sophisticated that it even deceived staff at her local bank. Purcell had received a string of emails and calls

Metro Bank founder quits amid fallout from accounting error – Guardian
Vernon Hill’s decision comes amid bank’s misclassification of £900m worth of loans Metro Bank shares jumped by more than a quarter on Wednesday after its founder quit in the wake of a major accounting error and investors backed a new fundraising effort for the embattled lender. Vernon Hill, Metro’s chairman,

Visa, Mastercard reconsider backing Facebook’s Libra: WSJ – Reuters
Visa , Mastercard Inc and other key financial partners may reconsider their involvement in Facebook Inc’s cryptocurrency, Libra, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Credit Suisse rocked by suicide as spy scandal deepens  – Financial Times
Bank’s chief operating officer also steps down over surveillance of outgoing head of wealth management

Euroclear/H&F: swarm clouds – Financial Times
Expect regulators and customers to roll out protective netting if buyout goes ahead

Revolut points to ‘viability’ after increasing revenues – Financial Times
UK fintech warns losses will continue amid international expansion

Banker ‘lost control’ and bludgeoned abusive wife to death, court hears  – The Telegraph

Britain is “at war every day” due to constant cyber attacks, Chief of the Defence Staff says – The Telegraph

Bank of England: Who will be the next governor? – BBC
The runners and riders tipped to replace Mark Carney as governor of the UK’s central bank?


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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