Home / Blog Index / The Finanser’s Week: 13th January 2020 – 19th January 2020

The Finanser’s Week: 13th January 2020 – 19th January 2020

The main blog headlines are …

Bye-bye FinTech

I just spent time with a bank talking about Doing Digital. The host had read a preview copy of my new book and was asking a few questions about it. What had surprised me the most in my talks with five banks? What lesson was …

What is the purpose of a bank?

It’s a simple question: what is the purpose of a bank? However, the answers I get are often missing the mark, imho. I get answers like to fund business, to finance progress, to support government, to keep economies stable, to manage risk, to build communities, …

European payments on gas

Just before Christmas I heard of a new European payments initiative called PEPSI, short for Pan European Payment System Initiative. Nice acronym although I prefer Coca-Cola, the Co-ordinated Car Co-operative Association. Or something like that. Anyways, whichever Cola you prefer, this new initiative is interesting. …

China and India: Watch and Learn

I have often written about how the developing world is leap-frogging the developed world. The reason is that the developing world had no infrastructure in place whilst the developed world implemented their infrastructure in the last century. The developed world has become a legacy world. …

The West Asian Renaissance: Watch and Learn

I sometimes write a reflective blog post or two and realised that the vision of the West Asian nations – some call this The Middle East, but that’s not right – is quite stunning. The aim is to move from their dependency on oil, and …

 

And the top news headlines this week are …

Spain’s Banco Sabadell hires IBM for 1 billion euro IT upgrade – Reuters
Spain’s Banco Sabadell has hired IBM for a 1 billion euro ($1.11 billion) overhaul of its IT systems over the next ten years, Miguel Montes, the bank’s director of operations and people, said on Wednesday.

The fallacy behind passive fund management – Financial Times
Ultra-low charges created an industry that hitched a lucrative free ride on the backs of stock pickers

JPMorgan: built to scale – Financial Times
Bank announces 2019 net income of $36bn

TSB to invest £120m in IT digital banking in Edinburgh – BBC
A new Edinburgh centre aims to develop new services, creating 100 technology jobs

Visa to pay $5.3 billion to buy fintech startup Plaid – Reuters
Visa Inc said on Monday it agreed to buy privately held software startup Plaid Inc in a $5.3 billion deal that will boost the payments giant’s access to the booming financial technology space.

Banks go big in the hunt for fintech success – Financial Times
Banks go big in the hunt for fintech success

JPMorgan puts senior credit trader on leave over WhatsApp use: Bloomberg – Reuters
A senior JPMorgan Chase & Co credit trader, Edward Koo, was placed on leave as the bank reviews whether he broke its policies by using WhatsApp group chats with colleagues, Bloomberg reported on Monday.

GCHQ warns not to use Windows 7 computers for banking or email after Tuesday – The Telegraph

Lloyds warns staff to expect first bonus cut in four years – The Guardian
Exclusive: Notice comes late surge in PPI claims hits banking group Lloyds Banking Group has warned its 60,000 staff including the chief executive, António Horta-Osório, to expect their first bonus cut in four years after a number of problems at the bank, including a last-ditch surge in payment protection insurance

Vanguard and the financial system: too big to be healthy? – Financial Times
The fund manager has grown so dramatically that it raises questions about its influence on corporate America

 

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...

Check Also

Banking is what we do and technology is how we do it

A decade ago, we talked about the financial crisis, technology, regulations and compliance. A decade …