So Facebook announced clarification of plans to rollout Facebook Pay, an easy way to pay friends through Facebook using your debit card. They had considered credit cards, but want to avoid fraud and risk and felt the debit card is the way to go. Initially US-based, the service will gradually be released worldwide. Here are…
Yesterday the UK’s Financial Inclusion Commission published their report on Financial Inclusion for the UK. The Financial Inclusion Commission is an independent body of experts and parliamentarians who came together to put financial inclusion back on the political agenda ahead of the 2015 General Election. The Commission set out to: take stock of the extent of…
I was surprised to see friend of the Financial Services Club Carole Berndt leave Royal Bank of Scotland (RBS) for Australian shores in January (actually Hong Kong with ANZ). Even though she’s an Aussie, the surprise was that Carole had only moved to RBS to shake up their Global Transaction Services (GTS) business the year before,…
After blogging about how hot Fintech is, I stumbled across this article by Avinash Swamy (HT to Bradley Leimer), and asked Avinash if I could place this on the blog as it shows the other side of the coin about how banks are reacting to Fintech threats and opportunities. Avinash kindly agreed, so read on …….
I often find headlines around the world that banks are hated, and was reminded of this today when Australian website The Conversation had the headline: Why do people hate bankers? No, really… The website cites research that bankers do not make excess profits and are not overpaid, but are hated due to being big and…
So Apple has just announced record Q4 profits, and we all go ooh and aah, but I went: what’s happening with Apple Pay? After calling Apple Pay a winner two months ago, several people claimed it would fail (although many have personal stakes for saying so). I called it because of the sheer size and power…
