The main blog headlines are …
Traditional banks are suffocating … they just don’t know it yet
An interesting lunch discussion about data the other day. It started when someone had picked up on my blog about Ana Botin, where she made the comment: “Why should data be regulated in a different way if you’re called a bank and if you’re called something …
Catch 22: to die or maybe die?
As it’s Friday the Thirteenth I thought I’d cheer you up with yet another core systems renewal story. There’s a great article that resonated with me in the Financial Times the other day, talking about ‘technical debt‘. The line that has stayed with me is …
How is 2020’s banking different to 1990’s banking?
Building on my blog post last week, showing the views of 1997, it was clear years ago that banking was under siege. However, that siege never happened. Tesco thought that most banks were “a bunch of clowns”, but never cracked the market and still have …
Do users care about their data?
A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number …
Someone turned to me the other day, mid-discussion around Facebook and their abuse of customer data, and asked: How did we get here? My answer: Because we let it happen. In the last twenty years, America has allowed big tech firms in Silicon Valley to …
And the top news headlines this week are …
ING working on digital assets custody technology - Reuters
Dutch bank ING (INGA.AS) is working on developing technology to help clients safely store digital assets, according to people familiar with the matter.
This Is What Racism Sounds Like in the Banking Industry - New York Times
Jimmy Kennedy earned $13 million during his nine-year career as a player in the National Football League. He was the kind of person most banks would be happy to have as a client.
Bank of America CEO Brian Moynihan says confident consumers are spending 5.5% more this year - CNBC
Bank of America CEO Brian Moynihan said Wednesday the lender’s customers spent about 5.5% more this year over 2018, a bullish sign for the U.S. economy.
Deutsche Bank says crypto could replace cash by 2030 - The Block
Cryptocurrencies have the potential to eventually replace cash, according to new research from financial services giant Deutsche Bank.
Would 'getting Brexit done' bring lots of new investment? - Guardian
Chancellor said end to uncertainty would ‘unleash a tidal wave’ of investments • Follow the latest election news – live The chancellor of the exchequer, Sajid Javid, said that flatlining economic growth in October showed that Britain must “get Brexit done with our deal” to give businesses and families certainty
Lloyds to reopen compensation claims for Reading fraud - Guardian
Independent review finds bank’s £100m-plus scheme was ‘neither fair nor reasonable’ Lloyds will reopen compensation claims for victims of the HBOS branch fraud in Reading after an independent review found the original scheme was “neither fair nor reasonable”. The decision is an embarrassing U-turn for Lloyds, which closed its £100m-plus
Victims of HBOS fraud in line for bigger payout - Financial Times
Review says bank’s compensation scheme ‘not fair and reasonable’
Santander UK chief's pension slashed by £436,000 over two years - Guardian
Lender is latest bank to yield to pressure from investors over excessive retirement benefits Santander’s UK boss will have his pension allowance cut by £436,000 over the next two years, as the lender becomes the latest bank to bow to pressure from investors over bumper retirement benefits. Chief executive Nathan
'I won't sleep for over 24 hours on election night' - BBC
Many currency traders will be working through the night on 12 December.
Winner-takes-all digital economy poses risk for markets - Financial Times
Concentration of business among small number of players presents significant challenge
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...
