Home / Blog Index / The Finanser’s Week: 28th September 2020 – 4th October 2020

The Finanser’s Week: 28th September 2020 – 4th October 2020

The main blog discussions this week include ….

Change the System (#FinCEN)

I got this endorsement from the one and only Alice Cooper the other day … … it was sent by a friend to cheer me up and it surely did. A lot. Love Alice Cooper. But it made me reflect too on the message: …

Are our payment systems irrelevant?

I bumped into this article on The Economist the other day, which postulates that the existing financial system could be replaced. SWIFT, VISA, MasterCard and other regional and national systems like BACS, CHAPS, CHIPS, Fedwire and such like, were all created in the 1970s or …

This House believes that companies should avoid politics

There’s an interesting debate about the corporate world: should it be apolitical or take a stance? Actually, in the form of a formal Oxford debating society version of this debate, I should say that: This House believes that companies should avoid politics Our first speaker …

The FinTech unicorn created by an old bank #SBI #YONO

Someone rightly pointed out that I talk a lot about Ant Group but not enough about other major initiatives like YONO, the mobile wallet of India. India is also a hotbed of innovation, with Google and Amazon fighting out the financial payments space alongside other …

Square grows up and becomes a bank

This week I’m going to continue looking at mobile payments with a quick overview of where Square, Jack Dorsey’s card payments firm, is today. I’m sure you all saw this headline the other day but, just in case, Square is now worth more than Goldman …

 

And the main news headlines are ….

Andy Haldane: the funnyman central banker who’s not great at maths – Guardian
Bank chief economist attracted attention with a quirky speech this week, but not for the first time Coronavirus – latest updates See all our coronavirus coverage “I’m Andy, and I’m a central banker,” said Andy Haldane, the Bank of England’s chief economist, to a ripple of laughter as he began

Bank branches may be wiped out by 2032 – will cash access survive? – Daily Express
Bank branches, like many retail based firms, have been affected by coronavirus in recent months. While some may feel that the pandemic is the sole cause for the banking industry’s woes but new analysis reveals they’ve faced ongoing issues for a number of years now.

EY faces mounting backlash after Wirecard whistleblower revelation – Financial Times
German politician warns accountancy firm ‘could face its Arthur Andersen moment’

Businessman Refused £10,000 Loan At 22 Buys The Bank That Turned Him Down – LAD Bible
A businessman who was refused a loan for being ‘too young and inexperienced’ when starting out as a young man has had the last laugh …

How HSBC got caught in a geopolitical storm over Hong Kong security law – The Guardian
Bank’s future remains uncertain as it finds itself under pressure from Beijing and Washington HSBC has been a fixture of the Hong Kong economy for more than a century. However, its origins as a financial bridge between Asia and the west have placed it in the centre of a modern

‘I monitor my staff with software that takes screenshots’ – BBC
Many have struggled to get to grips with working from home, but would surveillance technology help?

Whistleblower warned EY of Wirecard fraud four years before collapse – Financial Times
Exclusive: Employee at payments group’s longtime auditor flagged suspicious accounting and attempted bribery in 2016

JP Morgan Chase admits to US market manipulation and agrees to pay $920m – The Guardian
‘Spoofing’ practice illegally affected futures and metals market Landmark settlement lifts regulatory shadow over bank JP Morgan Chase has agreed to pay more than $920m and admitted to wrongdoing to settle federal US market manipulation investigations into its trading of metals futures and Treasury securities, the US authorities said on

How Long Should I Keep Paper Checks and Bank Statements? – The Street
As the Covid-19 pandemic leads banking customers to lean into online technology to manage their money, those trying online banking for the first time may find themselves with questions about how to handle things previously done in person or with paper documents.

NatWest and Lloyds give hope to investors – Daily Mail
Two of Britain’s biggest banks have signalled they are ready to start paying dividends again – just as the economy faces huge damage from lockdown measures and soaring job losses.

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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