Our biggest stories of the week are ...
Horizontal versus vertical: myth and reality
For most of my life, I’ve been aligned to the financial services industry as a supplier of technology and, throughout this time, I’ve dealt with technology companies that struggle with moving from being horizontal to vertical, from generic to specific, from platform to solution.
Launch of the Clearing & Settlement Working Group (CAS-WG)
The Financial Services Club is launching a Clearing & Settlement Working Group (CAS-WG), in partnership with the Realization Group, with first sponsor BT. The Clearing & Settlement Working Group: Terms of Reference The aim of the CAS-WG is to debate...
Some folks asked me to add a fourth outlook to my 2012 series regarding what customer focused trends would be occuring in 2012. Now I'm a fintech guy with a strong marketing background, and was going to write a long...
2012: McKinsey say banks need to reinvent themselves
Stumbled across an interesting report from McKinsey that says business as usual is not an option for American banks. They'll go out of business if they don't change their business models, as average Return on Equity will sink from 11% to 7% by 2015, whilst the cost of equity will reach 9%.
There’s an interesting economist out this week with a front page saying: “Save the City”, which seems to be getting everyone a little bit worked up. Why? Because it’s in defence of the City. The story talks about the history...
Visions of the future ... 1960s style
During the last holiday, I found another interesting set of predictions from 1962 in a book by Arnold B Barach called 1975: And The Changes To Come. These predictions were looking out to 1975, thirteen years ahead, and included a few interesting ones that have come true including ...
The major general news stories of the week include ...
RBS Cuts 4,800 Jobs as It Jettisons Units - Business Week
Royal Bank of Scotland is to cut about 4,800 jobs as it jettisons unprofitable units, citing volatile markets and the cost of new U.K. regulation
RBS executive to receive £4m bonus - The Telegraph
An RBS executive is in line for a £4m bonus despite the lender's share price falling more than 40pc since July, creating a politically awkward situation for David Cameron who has promised to give shareholders the power to stop top staff being rewarded for failure.
Barclays to axe over 400 jobs - The Independent
The finance sector suffered a fresh jobs blow today when Barclays announced plans to axe over 400 posts under "essential changes" to its technology and infrastructure division.
Lloyds boss Antonio Horta-Osorio returns after absence - The Independent
Lloyds Banking Group boss Antonio Horta-Osorio was back at his desk today after a leave of absence due to serious sleeping problems.
Sir Richard Branson's Virgin brand is the only hope for Northern Rock bank - The Telegraph
Richard Branson's brand, Virgin celebrates its acquisition of Northern Rock today.
Bank signs up for cloud computing - BBC
Spanish bank BBVA tells the BBC it is switching its 110,000 staff to use Google's cloud-computing software in the largest deal of its kind.
Exchanges in fear of eurozone transaction tax - Financial Times
Market infrastructures are becoming concerned that they are being sucked in as political footballs in a highly charged game of tax collection
A wife's toxic dollar deal that could bring down top Swiss banker Philipp Hildebrand - The Telegraph
Ill-judged currency bet could topple one of Switzerland's top bankers.
UK banks left vulnerable by Bank of England and politicians - The Telegraph
City analysts have criticised the Bank of England's handling of the Britain's banking sector and warned that Bank and Government policies have left major lenders vulnerable if the eurozone debt crisis spreads to the UK.
David Cameron: I will veto financial transaction tax - The Telegraph
Prime Minister David Cameron has said for the first time he would veto a European-wide financial transaction tax unless it was imposed globally, deepening a confrontation with France and Germany.
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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...
