The main blog headlines are …
What does ‘digital transformation’ really mean?
Buzzwords. We have a lot of them. Artificial, autonomous, augmented. Big data, blockchain, bilateral. Crypto, currency, consensus. Distributed, decentralised, democratised. I’m tempted to write the ABC of technology buzzwords, but know there cannot be any that start with X or Z*. However, I’m writing this …
The end of cards and cash … just fifteen years late
I just received a report from Deloitte about credit and debit cards. It says the future is not so bright: “more payment choices, along with changing consumer preferences, are threatening the long-term viability of the credit card business model.” Damn. I said that fifteen years …
The end of cards and cash … not yet, according to Deutsche Bank Research
I just found that Deutsche Bank Research issued three in-depth reports in January looking at the future of payments: Part I: Cash: The Dinosaur Will Survive… For Now Cash will survive. But digital currencies’ potential could re-balance global economic power. Part II: Moving To Digital …
OK, but the end of cash must be in sight? #coronavirus
Last week, MIT (Massachusetts Institute of Technology) issued their top ten technologies for the next decade, one of which is digital money: Unhackable internet Hyper-personalized medicine Digital money Anti-aging drugs AI-discovered molecules Satellite mega-constellations Quantum supremacy Tiny AI Differential privacy Climate change attribution This was …
Who moved my cheese? Like many of us, I am confused about the world, the future, life and everything. All seems good one day. The next, everything is being cancelled, government tells you to self-isolate, your view of everything is challenged and you have to …
And the main news headlines are …
Metro Bank ousts risk officer a fortnight after he joined ailing lender - Guardian
Grahame McGirr told to leave just days before his formal takeover of role Metro Bank is facing fresh problems after ousting its chief risk officer little more than a fortnight after he joined. Grahame McGirr, who has 20 years of banking experience including at Allied Irish and the Co-op, joined
Monzo tops our customer service poll - Money Savings Expert
Challenger bank Monzo has taken the crown in our latest banking customer service poll – knocking First Direct off the top spot for only the second time ever.
Was Tulip Mania really the first great financial bubble? - BBC
Has the notorious collapse in tulip prices been misunderstood?
Goldman Sachs builds up 8.5 per cent voting rights in Metro Bank - City AM
Goldman Sachs has built up 8.48 per cent voting rights in troubled British lender Metro Bank, according to regulatory filings. Metro Bank’s share price has collapsed almost 90 per cent since early 2019, when it disclosed an almost £1bn accounting error.
Deutsche Bank under pressure from UK regulator over compliance failings - City AM
The British financial regulator has criticised Deutsche Bank for failing to improve its compliance and anti-money laundering controls, and warned this could threaten the lender’s access to the UK post-Brexit.
Thought Machine raises $83m in series B funding - FinTech Times
Thought Machine, the cloud native core banking technology firm, has raised $83 million to drive the next phase of its growth. The funding will strengthen Thought Machine’s mission to transform banking and will also be used to drive expansion into Asia Pacific.
Nationwide leads race for £1.9bn Sainsbury's Bank deal - Sky News
The UK's biggest building society is closing in on a deal to buy Sainsbury's Bank's £1.9bn mortgage book, Sky News learns.
Lloyds Bank faces fresh police inquiry over fraud claims - The Telegraph
Lloyds Bank is facing a fresh police investigation of allegations of fraud against small business over a case that received the attention of chief executive António Horta-Osório and senior politicians six years ago.
The rise and dramatic fall of European banks in the US - Financial Times
Europe’s lenders spent billions to crack the American market. But many have made a humbling retreat
UK regulator warns Deutsche over compliance failings - Financial Times
Repeated systems and controls failings risk delaying post-Brexit reauthorisation
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...
