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The Finanser’s Week: 11th November – 17th November 2019

The main blog headlines are …

Can you recognise a fraudster when you meet one?

I’ve pointed out many times that it’s easy to scam people online and defraud them. I even once got a phone call from an elderly gentleman asking me if he had really won £1 million on the Financial Services Club lotto. I had to let …

Tomorrow’s bank? What do HSBC and Wells Fargo think?

I always like to hear what bankers think about the future of banking – it’s probably more accurate than what janitors or futurists think – and so was pleased to see two items in my in-tray this week, one from HSBC and the other from …

Joy to the World … and Please Pay Me!

Just over a month away from Christmas and the festive season is off to a rock and roll start. This week sees the launch of the annual John Lewis schmaltzy advert (see every one since 2006 here) and after six on December 5 sees the …

Banking is inherently sexist

Actually, it’s not just banking. It’s money. Money is about control – something I blog about regularly – and men control societies, economies and the world. Women are subjugated in that world, which is why there is a minority of female founders of FinTech firms …

Big Banks AND Big Tech (not versus)

I’ve said for a while that the Big Tech giants will not become banks. Amazon and Alibaba will do a lot of bank-like activities, but they will never move into full-service banking, as in offering deposit accounts. Why won’t they? Because that’s full banking activity …

 

And the top news headlines this week are …

HSBC and RBS set to launch new digital banking platforms – Reuters

British banking heavyweights HSBC (HSBA.L) and RBS (RBS.L) are launching new digital banking platforms, as competition for digitally savvy customers steps up in the face of a wave of online startups.

Google is latest tech giant to reveal banking plan – BBC

Tech companies are increasingly wading into finance, raising regulatory questions.

City regulator staff slated over ‘shameful’ behaviour at London HQ – Guardian

FCA employees verbally abused catering staff, defecated on the floor and stole plants The City watchdog has warned staff to clean up their act following “shameful” behaviour at its London headquarters, including verbal abuse of catering teams and workers defecating on toilet floors. A senior boss at the Financial Conduct

Deutsche Bank tech failings hit thousands of payments – Financial Times

Bank retreats on letter to BoE that CHAPS improvements were on track

UBS wealth management co-head Khan unveils plans to grow business: paper – Reuters

UBS executive board member Iqbal Khan wants to expand credit to rich clients as a way to grow the Swiss bank’s wealth management business, it was reported on Sunday.

TSB ‘may close up to 100 branches and put 400 jobs at risk’ – The Guardian

Exclusive: bank seeking £100m in cost savings in wake of IT meltdown last year TSB is considering closing up to 100 branches, according to a trade union source, in a move that could put 400 jobs at risk. The challenger bank has been working to repair its reputation following its

Apple co-founder says Apple Card algorithm gave wife lower credit limit – Reuters

Apple Inc co-founder Steve Wozniak joined in the online debate over accusations of gender discrimination by the algorithm behind the iPhone maker’s credit card, fuelling scrutiny of the newly launched Apple Card.

DWS chief on the ‘gem’ inside Deutsche Bank – Financial Times

Asoka Wöhrmann says rise of passive investing and wealth growth in Asia are causing ‘tectonic shifts’

Apple’s ‘sexist’ credit card investigated by US regulator – BBC

Goldman Sachs, which operates Apple Card, discriminates between men and women, it is claimed.

Payment firm Klarna messed up my credit score, says student – BBC

Debt charities concerned about the rising popularity of interest-free shopping online.

 

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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