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The Finanser’s Week: 9th November 2020 – 15th November 2020

The main blog discussions this week include …

Why banks don’t die

Have you noticed how people talk about disruption more and more, and note the collapse of companies like Blockbuster, Kodak, Nokia and Thomas Cook? In fact, there are more companies entering and leaving the stock market lists than ever before, with the average tenancy now …

So what would kill a bank?

Stumbling over an interesting article about bank consolidation in Europe, reminded me of Francisco Gonzalez’s (former Chair of BBVA) prediction that there’s only enough room for a maximum of fifty banks globally. I don’t believe either. As written about yesterday, banks don’t disappear. They don’t …

What do customers think?

I don’t usually cover press releases as they bore me, but this one caught my attention: Customer Online Conversations Reveal ‘All to Play for’ in Battle between Challengers and Incumbent Banks, Finds Economist Intelligence Unit Report   Groundbreaking report by The Economist Intelligence Unit uses …

Finding the missing links

When Digital Human was released in 2018, the opening chapter is all about the history of humankind. I don’t claim to be an expert on history, but I do know a lot of history, having visited museums in over 100 countries around the world. So, …

What was the first record you ever bought?

I’m running a survey around how this crisis has impacted physical versus digital access to services – please take the survey: https://www.surveymonkey.com/r/KCSBYMM … and you will get a free copy of the results – but, building on the physical versus digital debate,  it really hit …

 

And the main news headlines are ….

JPMorgan drops from top of FSB’s list of systemically important banks – Banking Dive
JPMorgan had been alone atop the FSB’s list since 2017. The bank’s 2% recommended buffer puts it on par with Citi and HSBC in terms of perceived risk.

World’s Safest Banks 2020 – Global Finance
The Covid-19 pandemic has exacted an immeasurable human toll—and the accompanying economic crisis continues to unfold.

NatWest Group eyes Sainsbury’s Bank for potential takeover – The Guardian
Any acquisition would be the lender’s first major deal since its £45bn government bailout in 2008 NatWest Group is eyeing Sainsbury’s Bank for a potential takeover that could mark the lender’s first major acquisition since its bailout in 2008. The high street lender – formerly known as Royal Bank of

Deutsche Bank to sell retail banking IT unit to TCS for €1 – Computer Weekly
Pending regulatory approval, the €1 takeover will see TCS add some 1,500 staff with extensive skills in SAP Banking and deepen its long-term $100m+ relationship with one of Europe’s biggest companies.

Reimagining retail banking: Tech, innovation and collaboration key to survival – Management Today
The coronavirus pandemic has had and continues to have a devastating effect on all sectors of the UK economy. But banking has been uniquely burdened by the double jeopardy of having to manage the impact on financial services and take on the pivotal role of helping the rest of the economy through the transition as well.

UK banks prep IT systems for negative rates – The Banker
The Bank of England wrote to UK banks last month asking about their “current readiness” to implement negative interest rates, giving them until November 12 to respond.

Watchdog warns banks on dangers of outsourcing technology – Financial Times
Risks of buying services from small group of external suppliers is high and rising

Sunak sets out ‘green’ post-Brexit financial services regime – Financial Times
Equivalence promise to EU and EEA as chancellor vows to keep UK ‘open and attractive’

Firms fear losing access to top-up loans after lender Tide runs dry – The Guardian
Exclusive : Almost 100 borrowers may struggle to survive winter unless lender wins new funding The Guardian understands that small firms that successfully received a bounce back loan from non-bank lender Tide are struggling to secure further loans to cope with the second lockdown after the finance company ran out

‘It’s crazy, but I started my own bank’: the story behind Starling – The Guardian
Fed up with modern finance and Britain’s broken banking system, Anne Boden decided there was only one thing to do: set up a bank that ran in the way she wanted it to The first time I met Anne Boden was last December at a glitzy awards ceremony where I

 

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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