The Finanser LogoThe Finanser Logo

Chris Skinner's blog

Shaping the future of finance

The Finanser’s Week: 29th June 2020 – 5th July 2020

Chris Skinner Author Avatar

The main blog headlines are …

The Wirecard fiasco:

Wirecard or Weirdcard?

Another day and another headline about Wirecard: ‘The money’s gone’: Wirecard collapses owing $4 billion Wirecard’s Missing Billions Forces Out CEO, Panics Lenders Wirecard: Former boss arrested over €1.9bn scandal How Wirecard fooled most of the people all of the time Inside Wirecard EY failed …

Wirecard … the biggest accounting fraud? Is the customers money safe? The end of Banking-as-a-Service?

Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created an accounting mess bigger than any seen before in corporate history. That was until Ernst & Young (EY) and Wirecard. Interestingly, there have been many auditing …

BaaS works, it’s the regulations that don’t

During my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it. This means …

And free research!

Realising the digital dream (free research)

I recently did a podcast and webinar with the Institute for International Finance (IIF). The timing was great because they’ve just produced a set of three reports about digital transformation in partnership with Deloitte. I can thoroughly recommend the three reports so here they are: …

McKinsey on digital transformation in banking (free research)

I only just stumbled across this 124 page report from McKinsey and, building on yesterday’s free research from Deloitte, this report is all about digital transformation and replacing core systems, my favourite subject. Here’s the intro: Next-gen Technology transformation in Financial Services Financial Services technology …

More free research from Genpact

I guess this week must be the week where I’ve found a lot of useful free research, as here’s another one. This time from Genpact, “a global professional services firm delivering digital transformation”. Some interesting stats in this report: In 2018, the world’s largest 1,000 …


And the main news headlines are ….

Société Générale acquiring challenger bank Shine - Techcrunch
Société Générale is acquiring French startup Shine. Terms of the deal are undisclosed. According to a source, Shine is getting acquired for around €100 million in an all-cash deal (around $112.6 million).

Wirecard administrator starts to dismantle defunct payments group - Financial Times
Potential buyers express interest in acquiring parts of the insolvent German company

As the Hong Kong security law comes into force, HSBC's silence is deafening - Guardian
The bank publicly backed China last month – so after 370 arrests in one day, ‘no comment’ is unlikely to cut it What does HSBC think today about the new security law in Hong Kong, the one it publicly backed last month without seeing the wording and that is now

Fintechs distance themselves from Wirecard - Financial Times
Collapse puts agreements under threat

Barnier rejects UK bid to preserve City’s rights via trade deal - Financial Times
EU chief negotiator’s comments reflect how tension over financial services affecting talks on future relationship

UK on track for V-shaped recovery, says Bank of England economist - BBC
But the Bank of England's Andy Haldane also says the country risks 1980s-style levels of unemployment.

City executives lead corporate governance drive - Financial Times
Group will help boards focus on issues such as sustainability and AI in wake of pandemic

Digital payments rules must be updated now - Financial Times
Wirecard scandal plus increased use of cards caused by Covid-19 leave no time to spare

Coronavirus: A visual guide to the economic impact - BBC
Key maps and charts explain how the virus has impacted markets and businesses around the world.

EY prepares for backlash over Wirecard scandal - Financial Times
Senior partners advised to tell clients objective of fraud was to ‘deceive investors and EY’

Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog,, 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...

Digital Transformation Programme

Learn directly from from one of the most influential people in technology, gain insights from the world's most innovative companies, and build a global network.

Top 50 Global Thought Leaders and Influencers on FinTech 2022

Chris Skinner
Commentator, CEO of The Finanser and best-selling author at The Finanser

Thinkers360 Thought Leader

Contact Me

Best Financial Services Blogger

Chris’s latest book

Chris Skinner’s ‘Digital For Good’ Book Launch Event – CFTE

Global Awards

Best CEO of the Year UK 2022

Best Digital Finance Provider of the Year UK 2022

Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

Corporate America Today Annual Awards

Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

Nominee of MAD33 2021

Kids creating the future bank | TEDxAthens

Join me on Linkedin

Follow Me on Twitter!

UK’s most influential person in technology

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award


TheNextWeb – #tnw

Learn more about Chris

About Chris Skinner

Presentation at ZBP, September 2020, Warsaw, Poland

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser