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The Finanser’s Week: 6th July 2020 – 12th July 2020

The main blog headlines are …

HSBC and Standard Chartered are wrong to kowtow to China over Hong Kong

I keep saying that I don’t want to be political on this blog – I’m not qualified and it’s not why you read it – but, as a human being, I cannot ignore things like Black Lives Matter, the lockdown approaches of different countries, the …

Am I wrong about Hong Kong?

I got an amazing reply to my post yesterday. I cannot say from whom – that’s part of the thing – but it’s such a good reply, I’m sharing it here. For me, it shows how the internet has changed the world – I can …

The real reason HSBC and Standard Chartered aren’t talking

OK, OK, OK. I said this blog is not political, but it’s got a bit that way this week after my comments on HSBC and Standard Chartered, China and Hong Kong. In fact, I feel I’ve opened a bag of hornets and therefore I’m not …

Neobanks: are they really challenging?

In surfing this week, I found a great article on my friend Amit Goel‘s website GoMedici.com. The company has just completed a deep dive into the world of challenger banks or, as they term them, neobanks. The time for neobanks is now. Here’s their summary …

Should we gamify banking?

OK, no more politics … unless it’s important to banking, technology and fintech … and back to my usual boring diatribes. There’s been a discussion a while ago about making banking fun, gamifying finance and giving rewards for smart spending and saving. I was an …

 

And the main news headlines are ….

UK regulator toughens rules on payment companies after Wirecard collapse – Financial Times
FCA issues new guidance to protect customers’ funds just days after German group’s insolvency

Barclays bosses wrote Amanda Staveley off as ‘dolly bird’, court told – Guardian
Businesswoman is seeking £1.5bn from bank in high court action over £2bn Qatari loan A high profile businesswoman suing Barclays for £1.5bn over the terms of an emergency cash call in 2008 was called a “dolly bird” and a “tart” by top bank executives according to documents presented to the

The tiny German bank that bet big on Wirecard’s Markus – Financial Times
Just weeks before Wirecard collapsed, a tiny German bank made a big bet on Markus Braun.

Google, Deutsche Bank Agree to 10-Year Cloud Partnership – Bloomberg
Alphabet Inc.’s Google and Deutsche Bank AG have agreed to form a long-term partnership that will see the U.S. technology company provide cloud computing capabilities to Germany’s largest lender.

Bank of England boss Andrew Bailey in the line of fire as government prepares to splash more cash – Daily Mail
Those who doubted Andrew Bailey was the right person to be Governor of the Bank of England cannot but have been impressed by his smart response to the Covid-19 emergency.

Departure of Horta-Osório no bad thing for Lloyds at this time – Guardian
Outgoing CEO did better than share price suggests but fallout from Covid-19 will be painful By the time he leaves Lloyds Banking Group next year , António Horta-Osório will have been paid roughly £60m for his decade in charge, which is rather better than shareholders have done. A pound invested

Was lockdown really worth it? Telegraph writers and experts give their verdict – The Telegraph

Wirecard’s core business has been lossmaking for years, audit shows – Financial Times
Operating performance in Europe and the Americas far worse then previously known, according to KPMG report

Banking apps: what do they offer – and how is your cash protected? – Guardian
A string of online services provide products similar to banks, but they may not be regulated in the same way When the Financial Conduct Authority ordered the UK arm of payments firm Wirecard to freeze customer funds, hundreds of thousands of people who had probably never even heard of the

Brexit shutout looms for UK funds as market access talks falter – Financial Times
Missed deadline prompts warnings of disruption as fund groups already grapple with the pandemic

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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