Things we’re reading today include … Hopes fade for Co-op Bank turnaround plan City watchdog wins legal battle with ‘London Whale’ executive UBS charges customers to deposit euros Cheques will clear in just 24 hours thanks to smartphone imaging tech Brexit vote: Single market benefit ‘largely imaginary’ MPs warn system for preventing cyber attacks against…
I blogged a year ago about TechFin, the incumbents’ view of applying technology to existing banking services, versus FinTech which seeks to transform the financial system. That has become one of the top search terms to find my blog, as it turns out, mainly because my blog entries are the first to be returned when searching…
Things we’re reading today include … Bank that lent $300m to Trump linked to Russian money laundering scam Brexit: What the biggest banks are planning once Theresa May begins EU departure Goldman Sachs to expand EU presence ahead of Brexit Wall Street suffers worst day this year Deutsche slips in global investment bank rankings Investment…
There was an interesting article in The Independent last week about the big banks becoming bigger since the financial crisis hit. The article notes that the big American banks control 70% of all US assets, and that this figure has increased 40% since 2008. In the lead up to 2008, parallel to increasing debt levels,…
On Wednesday the American Office of the Comptroller of the Currency (OCC)* followed up on its promise last December to introduce a national bank charter for Fintech bank startups by issuing a white paper on how to apply for a licence, the evaluation process and what will be involved. It’s a massive move towards allowing…
Things we’re reading today include … Wall Street bonus pool boosted by Trump rally Bank of America shareholders revive chairman debate Wells Fargo CEO receives pay bump despite sales scandal Exclusive: London gold rush – ICE to launch clearing before banks are ready Government to set up new anti-money laundering watchdog How the world’s central…
I’ve just been alerted by friend Gijs Boudewijn to the release of a fascinating white paper by BIS, the Bank for International Settlements (the guys who do Basel stuff and are big cohonez in banking circles). Their Committee on Payments and Market Infrastructures released Distributed ledger technology in payment, clearing and settlement: an analytical framework…
Things we’re reading today include … How’s your online bank security looking? The Dutch studied theirs and… yeah, not great Come to France post-Brexit, banks urged HSBC faces FCA probe into anti-money laundering controls as profits plunge Bank of England ‘has improved’ its economic forecasting Australia is the most popular country for the world’s millionaires,…
From the origins of the internet in 1990, the end of the 1990s saw the emergence of e-commerce and a plethora of payments services and commercial websites. Then not a great deal happened until the internet became social. Blog platforms like WordPress and Typepad emerged in 2003; Facebook launched in 2004; and YouTube a year…
