One report you may have missed was this one: CyberRisk and the U.S. Financial System: A Pre-Mortem Analysis from The New York Fed and released in January. The paper focuses upon a co-ordinated cyberattack on the wholesale payment systems of America and can be summarised as: We (the Federal Reserve Bank of New York’s academics)…
The main blog headlines are … RegTech versus TechReg I often talk about how banks have five times more regulation than technology firms. That stat comes from Bank of America Merrill Lynch who published this chart a while ago: This is confirmed by similar charts, such as this one from Benedict Evans, a Partner ……
I often talk about how banks have five times more regulation than technology firms. That stat comes from Bank of America Merrill Lynch who published this chart a while ago: This is confirmed by similar charts, such as this one from Benedict Evans, a Partner at the firm Andreessen Horowitz, who just shared his Davos…
Following yesterday’s discussion of Brexit and it’s implications on financial services, there’s a little more to be said on this. For example, every year at The Financial Services Club, we are delighted to host our friend David Doyle who, with precision-based analysis, talks us through the implications of EU Regulations on the Financial Markets of Europe….
I was going to give up writing anything further on Brexit as it’s now done and dusted. Britain’s out of Europe. There was no major celebration however. I was in London last Friday night, and this is what I saw out of my hotel window as we exited. EU Day pic.twitter.com/meWWRO3flF — Chris Skinner (@Chris_Skinner)…
I was taken in by an article on the BBC yesterday due to the headline: ‘I wasn’t allowed to buy my burrito with cash’ The article recounts the story of Nicholas Duggan, a construction worker, who tried to buy his lunch with cash, but the store refused and demanded payment by electronic means. Interesting. Specifically…
I write a lot about purpose-driven banking, and many folks came back to me saying that what I had written sounded a lot like community banking. Community banks stand for something, they have a purpose and much of it is directed towards their members’ interests and the local community. And yes, I did mean that,…
FinTech investment numbers are variable dependent upon how they are counted. The number I’ve been using for most of last year is that headline amount of $111.8 billion invested worldwide in over 12,000 start-ups. That number came from KPMG in 2019, who noted that most of that investment was flowing through Asia and China. The…
I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target. They are, but so are any banks who treat customers unfairly and the blog was meant to be more about the fact that…
