This week’s main blog discussions include:
$2 trillion a year sits rotting in bank accounts
This headline caught my attention the other day: Bank loyalty costs savers £1.6 billion a year in missed interest The detail: There’s £246.5 billion ($340 billion) languishing in accounts paying no interest at all … A survey of 2,000 adults across the UK, with 42 …
Banks spend megabucks on tech and yet are mega inefficient
Building on my recent thoughts, I cannot for the life of me understand how a bank can spend so much on technology and yet be so inefficient. By way of example, let’s take a bank cost-income ratio. That’s the measure of how much a bank …
The future of banking (research)
Jim Marous at The Financial Brand just published a survey of what his readers think the future of banking holds. Before you read the results, here are mine: Retail banking focuses upon integrating everything digital Commercial banking focuses upon digital currencies for global trade Investment banking …
Things that bankers thought … that were wrong
Brett King dropped a tweet the other day. It was followed up with a further list from Matthew Van Buskirk: I am sure there are many others!6. Transaction speed isn't important7. Cloud-based fintechs are inherently less secure8. Face to face or phone interactions are necessary …
The elephant called … or is that a cryptophant?
I got a phone call from the Elephant. For those who read my blog regularly, you’ll remember that the elephant stayed with me last year. I guess, as it’s a year later, he was missing me. He moved out as Spring approached, because I couldn’t …
This week’s key headlines include …
- Amazon adds Venmo as payment option
- BNPL adoption soars in the UK
- Mastercard BNPL programme gains momentum
- Twitter is building a crypto team
- How NFTs create value
- Cloud adoption in banking ramps up
- Central bank digital currencies are a long way from becoming reality
- Basel Committee to revisit crypto asset proposals after market pushback
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...
