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The Finanser’s Week: 20th July 2020 – 26th July 2020

The main blog headlines are …

The FinTech Karaoke Challenge

OK, OK, OK.  I know that some of my friends have been doing FinTech and Banking songs for a while, and I’ve avoided it. I’ve also avoided doing much video, as I don’t like seeing myself on camera. And I don’t sing, except in the …

Hey bank, get onto my cloud!

I’ve seen a few big deals signed this month to get banks onto the cloud, such as National Australia Bank (NAB) switching to Microsoft’s Azure, and Deutsche Bank moving to the Google Cloud. McKinsey expect that cloud usage will rise from less than a quarter of …

Tax me, I’m a millionaire

Well, I’m actually not. But there are a few out there and they’ve ganged together to create Millionaires for Humanity. The aim of this group is to get governments to tax them more. High Net Worth Individuals (HNWI) and Ultra High Net Work Individauls (UHNWI) …

FinTech challenger and neobanks in Brazil

I stumbled across a great article about Brazilian neobanks the other day. Bearing in mind that Nubank is the most successful neobank in the world, with 25 million users at the start of June. As a result, when I saw a great article about banks …

Pay-by-Nose, a new innovation

I blog regularly about what a fanboy I am of Chinese technology giants Alibaba and Tencent. It’s getting a bit ridiculous now however, when payments companies are designing payments for cats and dogs … or maybe it’s not … it’s just an extension of technologies …

 

And the main news headlines are ….

Ex-Barclays banker’s sexist comments about Amanda Staveley released – The Guardian
Former UK Finance chief apologises to businesswoman after telephone transcripts revealed by high court A top City banker questioned whether businesswoman Amanda Staveley was sleeping with Abu Dhabi’s Sheikh Mansour bin Zayed al-Nahyan, calling her “thick as shit” and commenting on the size of her breasts, after she took part

Monzo says ‘no’ to refund as thousands are lost to cold-callers – Guardian
Reader ‘devastated’ by bank fraud, plus NatWest refuses to give back money taken by scammer I lost all the money I have after fraudsters called me pretending to be from my bank. It began with a call last month from a woman who said she was from the Monzo fraud

Should you leave your banking tech job for AWS? – efinancialcareers
Amazon Web Services (AWS) is emerging as banks’ talent provider of choice.

One in 10 born in 1980s to inherit more than half average lifetime earnings – Guardian
Report shows wealth passed down in the UK now determines how well-off people will become As many as one in 10 of UK adults born in the 1980s will inherit more than half as much money from their parents as the average person earns in a lifetime, according to a

UK is in a V-shaped recovery, says Bank of England economist – The Guardian
The Bank of England’s chief economist, Andy Haldane, has insisted that Britain is enjoying a V-shaped recovery, despite concerns among rival central bank policymakers that the economy is struggling after high-profile job cuts that are expected to send unemployment higher.

Royal Bank of Scotland changes name to NatWest – Guardian
Banking group to remain headquartered in Edinburgh, but drops Scotland from title Royal Bank of Scotland has formally changed its name to NatWest Group on Wednesday, removing Scotland from the name of the lender’s parent company for the first time since it was founded in Edinburgh in 1727. The banking

Big banks look to the cloud to accelerate digital shift – Financial Times
As their booming share prices testify, technology companies have been brimming over with new business during the coronavirus pandemic.

RBS tells its staff to carry on working from home until next year – The Guardian
Banking group says it takes safety seriously days after Boris Johnson calls for a return Coronavirus – latest updates See all our coronavirus coverage Nearly 50,000 UK-based staff at banking giant RBS Group have been told they will not go back into the office until 2021, just days after Boris

UK digital bank Monzo relaunches premium accounts after original service flopped – CNBC
British financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate a new source of revenue.

Banks Are Ditching London Offices and Not Just Because of Covid-19 – Bloomberg
The giants of Wall Street and European banking are giving up their strongholds in London.

 

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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