The main blog headlines are …
I often talk about how banks have five times more regulation than technology firms. That stat comes from Bank of America Merrill Lynch who published this chart a while ago: This is confirmed by similar charts, such as this one from Benedict Evans, a Partner …
#Brexit is done, but the deal-making isn’t … and finance is at the heart of it
I was going to give up writing anything further on Brexit as it’s now done and dusted. Britain’s out of Europe. There was no major celebration however. I was in London last Friday night, and this is what I saw out of my hotel window …
And even if finance gets a #Brexit deal, equivalence is not the answer
Following yesterday’s discussion of Brexit and it’s implications on financial services, there’s a little more to be said on this. For example, every year at The Financial Services Club, we are delighted to host our friend David Doyle who, with precision-based analysis, talks us through the …
Cashless shopping may be here … but a cashless society? Nah!
I was taken in by an article on the BBC yesterday due to the headline: ‘I wasn’t allowed to buy my burrito with cash’ The article recounts the story of Nicholas Duggan, a construction worker, who tried to buy his lunch with cash, but the …
Transparent climate-related financial disclosure
I write a lot about purpose-driven banking, and many folks came back to me saying that what I had written sounded a lot like community banking. Community banks stand for something, they have a purpose and much of it is directed towards their members’ interests …
And the top news headlines this week are …
RBS's digital bank Bo tells customers to shred their cards - Daily Mail
Royal Bank of Scotland's new digital bank Bo has told thousands of customers to shred their cards. It is reissuing debit cards to more than 6,000 of its customers who signed up to the app before January 3, in an effort to comply with new EU banking rules.
Starling hits 100,000 business customers as SME banking hots up - altfi
Starling, one of the UK’s most popular digital banks, has hit a milestone of 100,000 business customers. The bank also today announced an expansion of its Business Marketplace to include three new third-party services aimed specifically at freelancers and SMEs.
City banker suspended for ‘stealing food from canteen’ - The Independent
A high-profile senior bond trader, earning over £1 million a year, has been suspended after investment bank Citigroup accused him of pilfering food from the office canteen.
Jeffrey Epstein’s Mystery Bank Came Alive After His Death - The New York Times
In the years after Jeffrey Epstein registered as a sex offender, he closed his money management firm and started a business to develop algorithms and mine DNA and financial databases. Then he set up a bank.
Is modern banking too complex for challenger banks? - Evening Standard
We all love a challenger. That’s why this paper has long supported Metro Bank.
N26 is building a better bank - Techcrunch
Fintech startup N26 recently reached a new milestone as it now has five million customers. The company launched onstage at TechCrunch Disrupt five years ago.
Travelex: Bank currency services still offline after hack - BBC
Lloyd and RBS are among many banks unable to offer online currency services.
Worldline to buy Ingenico for €7.8bn - Financial Times
French payment services rivals to combine with aim of creating European champion
Credit Suisse espionage scandal deepens as report suggests bank spied on Greenpeace - The Telegraph
Banking giant Credit Suisse spied on Greenpeace in 2017, according to a report in a Swiss newspaper, adding pressure to a management team already rocked by a separate spying scandal.
'I wasn't allowed to buy my burrito with cash' - BBC
The US pioneered credit cards and online payments, but convincing people to go cashless is proving harder.
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...
