The main blog discussions this week include …
Is Google going head-to-head with banks?
We talk a lot about Big Tech moving into big banking … but then we have talked about that for years. Now, with the revamped strategy for Google towards payments and finance, is Big Tech finally making its move into big banking? If you didn’t …
We have terrible moments of human strife and suffering. Wars, famine, pandemics, earthquakes and more. People dying, parents and friends lost, grief and tears, a world that could not be worse … … But for some, it’s good times. There’s always money to be made …
I’ve been talking quite a bit about CBDCs lately. CBDCs? Central Bank Digital Currencies. Central banks worldwide are looking at digital currencies as a great new future. Instead of letting citizens move to bitcoin or other cryptocurrencies, have ours. Well, that’s the idea anyway. China …
It’s all about the money, money, money
The lockdown pandemic has been interesting from a financial markets’ perspective. First, people withdrew as much cash as they could, worrying that things would be bad, and cash was king. It wasn’t. They didn’t need the cash. They didn’t spend it. In fact, I was …
Fintech Saudi and Digital Banking
Like most markets worldwide, the Middle East – or is that Western Asia? – has been sorely impacted by the pandemic crisis. Luckily not as much as Europe and the Americas, thanks to strict lockdowns and border closures, but this still creates a new paradigm shift …
It’s 2020 and, since I was born in 19-whenever it was, I cannot think of a more challenging year. We are being forced to isolate, stay indoors, go nowhere and stay well. As I’ve blogged a few times, that’s good news for digital but bad …
And the main news headlines are ….
Banks looking to confidential computing for solutions to money laundering, theft, and fraud - Tech Republic
Financial institutions and banks are struggling more than ever to mitigate digital theft, fraud, and money laundering activities. Almost all banks are subject to Know Your Customer regulations that are resource-intensive and manual in nature.
Google Cloud is creating a new type of digital banking platform with this lender - Market Watch
Google Cloud is joining with a small British bank to develop a new type of platform that mixes the personal relationships of traditional banking with the technology and infrastructure of new digital banks. Cynergy Bank says
How Bank of America Helped Fuel California’s Unemployment Meltdown - KQED
For a brief moment this summer, Stephanie Moore thought she might finally see a glimmer of hope at the end of the coronavirus recession. But
Indigenous man and granddaughter, 12, handcuffed after trying to open bank account - The Guardian
An Indigenous man in Canada has launched two human rights complaints after he and his 12-year old granddaughter were arrested and handcuffed as they tried to open a bank account.
City of London makes late scramble to limit Brexit disruption - Financial Times
Companies and regulators adapt despite lack of clarity on post-December market access
ING & Bank of America: Banks won’t “spring back” to normal after vaccine - Bob's Guide
The pandemic has forced banks to accelerate digitisation programmes and permanently changed working habits according to Gerald Walker, CEO of ING Americas.
Starling becomes first challenger to make a profit - City AM
Starling has become the first of the challenger banks to break even as its rivals record mounting losses, with plans to expand across Europe.
My investment banking mentor was a sociopath - efinancial careers
I'm a student in my final year at university and I want to warn other students about a bad encounter I had with a managing director at a leading Wall Street bank in New York who volunteered to be my mentor.
New Monzo rival launches Britain’s first 'eco-friendly' wooden bank card - The Telegraph
A new banking brand trying to take on Monzo has unveiled an environmentally-friendly bank card made out of wood.
Deutsche Bank on the lookout to expand its payments business - Financial Times
German lender’s fledgling ‘Merchant Solutions’ unit is weighting options for potential targets
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...
