With all this talk of greed and corruption in the City (more on that later too), everyone is demanding a return to basic banking. I’ve heard this several times in the past week and over the past few years. Just yesterday, over lunch, my colleague was recalling the days when you needed credit from the…
More interesting dialogue about banking yesterday, and this time about financial inclusion. The fact that mobile phone ubiquity is creating a wirelessly connected planet, is a key part of changing our world for more inclusion. First, six billion people now have 1:1, P2P connections. You only need to look at mobile densities by continent to realise…
So there are two big stories in the UK media right now – the RBS/NatWest glitch and the Barclays LIBOR fine. There are two others: the PPI scandal that rolls on and on, and the new generation SWAPS scandal which is just starting. Then there are the ones that are constant: the fact that free banking is going to…
Just been reading this month’s Bloomberg Markets, with the lead story: “Woman Who Couldn’t Be Intimidated By Citigroup Wins $31 Million”. The story proves to be an intriguing in-depth analysis (4,000 words) and is not an indictment of Citigroup per se, but of the corporate mentality of any global business today. You may disagree with…
Yesterday marked another milestone in the progress of the Clearing & Settlement Working Group (CAS-WG), with our second plenary meeting. This time it was held at the London Stock Exchange … … and discussed the progress of the four Subject Groups that were created after our first meeting at the beginning of March. Since then,…
As mentioned, we had a keynote presentation at the Financial Services Club from Andrew Haldane, Executive Director responsible for Financial Stability with the Bank of England, last week. The presentation was delivered under the Chatham House Rule, so I cannot say too much about what Andy covered, but there was a theme throughout that may…
I’ve been getting around a bit this week. Having had long conversations with cybersecurity experts, I’ve also been having long conversations with treasurers. Many of them. Many of them, mainly with the world’s largest corporations. And it’s been interesting, as they all share one over-riding common concern. Regulations. Now I thought bankers were the only…
I’ve been getting around a bit this week. Having had long conversations with cybersecurity experts, I’ve also been having long conversations with treasurers. Many of them. Many of them, mainly with the world’s largest corporations. And it’s been interesting, as they all share one over-riding common concern. Regulations. Now I thought bankers were the only…
I’ve spent my life working with banks and technology firms, trying to align technology with business strategy and vice versa. And yet it was only yesterday that I realised that these two industries are ripping each other apart. The fact is that banking was managed in a risk averse way for centuries through diligent book-keeping…
