Our biggest stories of the past week are ...
I know, let's
differentiate the bank by launching an app!
It’s Friday, so we
should have some fun. Unfortunately, it’s both a bit of fun and a bit of a
challenge. The challenge is how to differentiate the bank? That’s always been a
challenge. Most banks reckon that they don’t...
Fixing our banks: now we know the answer
We had another round of debate about fixing the banking system at the Financial
Services Club this week (read Part One here). This time it was the turn of the
shareholder, media and industry to air their views, ably represented...
Bank innovation: this time there's commitment
It was intriguing to see the rise of innovation in banking during the 2000s.
Every bank had an innovation programme, a Chief Innovation Officer, an
innovation mantra in their annual reports and an innovation organisation in the
bank. What is...
Four out of five corporates are not ready for SEPA
end-dates
For the fifth year, the Financial Services Club ran a survey of payments
professionals worldwide to see how successfully regulations and technologies
are changing the European payments landscape, sponsored by CGI and EBA
CLEARING. The survey ran during the spring...
Not everyone knows the future ... or even the present
It's interesting that some of us present and present and present, talk and talk
and talk, blog and blog and blog and more about the future of money, payments,
banking, society, the world and so on such that, by the...
The major general news stories of the past week include ...
Bank
predicts Pingit demand surge - Express and Star
Barclays said it has already seen large spikes of activity over recent bank
holidays, with a 300% increase in people logging into its Pingit app over the
Easter and early May bank holidays compared with normal weekends.
One
in five customers to switch bank accounts - The Telegraph
Soon customers may be more likely to move bank account, than get divorced -
with new slicker switching process.
Bank
customers and employees ride out Oklahoma tornado inside the vault - Daily
Mail
Customers who were at the local bank when the devastating tornado hit Moore,
Oklahoma on Monday took refuge in the secure vault, and it's all that's left
standing of the building.
PayPal
Finds More than 80% of Consumers Want to be Wallet-free - Payments News
PayPal has published the results from a global consumer study that it says
"paints a dim future for the wallet. A vast majority (83%) of respondents
across five countries indicated they wished they didn’t have to carry a
wallet." It’s not about replacing cash or your credit card with a
The
bank account switching revolution - Yourmoney.com
Led by the Payments Council, a new, free-to-use Current Account Switch Service
will be launched that will make switching from one bank or building society to
another simpler, reliable and hassle-free.
Wealthy
bank depositors to suffer losses in EU law - Reuters
A draft European Union law voted on Monday would shield small depositors from
losing their savings in bank rescues, but customers with over 100,000 euros in
savings when a bank failed could suffer losses.
Redemption
awaits Britain's battered banks - The Telegraph
Our revolutionary new model would transform their image - and their customers'
finances, says Gillian Guy
'Moral
issues' lead banks to refuse porn stars bank accounts and loans - Daily
Mail
Being a porn star might not meet the approval of everyone you meet but you
might think your bank manager would be one person who wouldn't have cause to
complain.
Let's
boycott this needless tax that would cripple markets and keep Europe in the
slow lane - The Telegraph
Europe has a growth problem: the International Monetary Fund has warned of a
three-speed world economy, with the eurozone losing further ground to the
United States and emerging economies.
HSBC
eyes 14,000 job cuts as it looks for $3bn cost saving - The Telegraph
HSBC could cut as many as 14,000 jobs in the next three years in an effort to
reduce its annual costs by between $2bn (£1.3bn) and $3bn.
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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...
