The Finanser’s Week: 18th February – 24th February 2013

Our biggest stories of the past week are ...

This week, we covered a three-part series on the big innovations in finance.

PART ONE: From personalisation
to virtualisation - tomorrow's banking is here today

Checking out this morning’s news , I discovered this new
innovation from Wells Fargo where you can get personalised ATM messages. The
new ATMs include customised screens based on customer preferences and
“favourites” that are highlighted on the screen based...

Building upon the discussions about personalisation and
virtualisation, these are important. In fact, as I’ve mentioned before,
personalised, virtualised in real-time on my mobile is PFM-squared (does any of
that last sentence make any sense?). So then I was asked... 

PART THREE: A new
currency payment system is about to explode

Before leaving the subject of socialisation, gamification,
personalisation and virtualisation, there’s one last area that is worth delving
into. This one came up when I was working on my latest iteration of the way in
which money is evolving, and...

Along with more general views:

If you didn't think a
payments revolution was taking place, think again

If you didn't think there was a payments revolution taking
place, then think again as dealmaking websites like Groupon, Living Social and
Huddlebuy have been pushing payments systems. It makes startling and notable
change when you see consumer-based services pushing...

How to create a
killer strategy

There are several examples of the ages of man. The one that
I got from an American friend is learning, earning and burning. You spend your
early years learning, your main years earning and your latter years burning the
wealth...

 

The major general news stories of the past week include ...  

HSBC is latest bank to axe staff sales
targets - The Telegraph
HSBC has removed all sales targets in branches, with staff performance instead
to be measured by "customer satisfaction".

Banks' assets wrongly valued, says Andrew
Bailey - The Telegraph
Problems persist with banks' balance sheets, with lenders continuing to hold
assets that are wrongly valued, the new financial regulator has said.

Banks have more than £9bn unfunded litigation
bill - The Telegraph
Britain's four largest banks face more than £9bn of losses as a result of
pending legal actions, according to analysts at Credit Suisse.

Andrew Bailey appointed boss of the new bank
regulator - The Telegraph
Andrew Bailey has been appointed as chief executive of the new Prudential
Regulatory Authority and will become deputy governor of the Bank of England.

Debit cards 'to give way to phones'
- BBC
The use of debit cards could decline within the next eight years, says the UK
Payments Council, as we start to make payments by mobile phone.

Cybercrime wave gathers force - Financial
Times
The surge in financial transactions via mobile devices is providing new
opportunities for criminals

Finovate Europe 2013 Best of Show Winners Named
- Finovate
Our third FinovateEurope wrapped up and, at the end of each of the two
jam-packed days, the London audience voted for their favorite three demos. The
top eight overall were named Best of Show. The winners are ...

Florida hit by "tsunami" of tax
identity fraud - Reuters
MIAMI (Reuters) - Bruce Parton was only a few weeks from retirement after 30
years as a mail carrier in sunny Florida.

PPI-claims firm 'rang emergency lift number'
- The Telegraph
One bank says that for every £10,000 paid in compensation to customers, the
cost of processing claims costs “well over £1m”.

Plan to break Big Four's audit grip
- The Independent
The Competition Commission is set to crack the dominance of the Big Four
accountancy firms with proposals for sweeping market reform this week.

 

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