This week's main blog discussions include ...
I woke up and, as usual, checked the banking app for any updates or changes. There was a payment received. Quite a major payment. It came from BIG NUTS ASS*. BIG NUTS ASS*? Who is BIG NUTS ASS*? I have no idea. I rang the …
What’s going on with Elon? [@elonmusk]
UPFRONT STATEMENT: I have crypto, but treat it as an experiment I attended an event in 2016 where Elon Musk was the star speaker. It was a good event, and he made sense. He doesn’t make sense anymore. Back then, I wondered if he was …
The challenge for challengers (#Anna Money, #Monese, #Monzo, #N26, #Pockit, #Wirex +++)
I’m starting to worry about FinTech as they seem to have fallen foul of regulatory compliance and, as a consequence, customer trust. The biggest challenge for a challenger is to keep customer trust AND regulatory compliance. This is what we are seeing having consequences today. …
The case for cannibalising the bank
I was thinking about run the bank, change the bank, and the challenges therein. Part of it was down to a conversation that repeats quite often about it being easier to launch a new bank than change the old bank. Something I’ve argued against regularly. Reason …
The balance between regulation and innovation. On the one hand, a country wants start-ups to start up in their country; on the other hand, when dealing with financial services, you have to ensure that it is done in a way that protects citizens and society. …
This week's top reading (via Citadel Advantage) includes:
- Is Bitcoin worth the energy and environmental costs?
- WannaCry lesson still echoes: Patch
- US Digital Banking Report: How 4 Companies Have Created and Own Niches in a Very Crowded Category
- DarkSide ransomware group suffers setbacks following Colonial Pipeline attack
- Colonial Pipeline hack highlights grid disruption risks even with IT-focused cyberattack
- Facebook-backed Diem withdraws FINMA application, shifts to US
- Bank of America to pay $75M to settle class action on overdraft fees
- US banks could cut 200,000 jobs over next decade, top analyst says
- COVID's silver lining: The race to cloud-based cybersecurity quickens
- What executives are saying about the future of hybrid work
- China bans financial, payment institutions from cryptocurrency business
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...