The Finanser’s Week: 26th August – 1st September 2013

Our biggest
stories of the past week are ...

The five greatest risks to banks

Banks are considered
to be stable, reliant and dull by the world, or that’s what we would like them
to be. Instead banks are inherently risk managers, as we have now specifically
realised in the past five years. Banks can...

Bank systems are not safe (anymore)

I used to think that
we were good at designing systems, but the issues at NASDAQ show that the
interlinkage and interdependencies of today's financial world is strained as
the systems have started to fail.

SIBOS innotribe free book: how to become a Digital Bank

We were discussing
the forthcoming SIBOS future of money session yesterday and someone said: the
more that time goes by, the more complex systems have become, the harder they
are to change; at the same time, the more that time...

Is your next bank manager going to be a robot?

Looking for future
trends, it is clear that wearable computing through the internet of things is a
big wave for the next five years but, less reported, is the work on robots.
Whenever we think of robots, we probably have...

Finovate Europe and Asia - save 20% now

The Financial
Services Club has partnered with Finovate Asia and Europe to offer 20% discount
for any interested readers of the Finanser to attend.  Finovate Asia takes place in Singapore on
14th November 2013 and Finovate Europe in London on February 11th and 12th
2014.

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

Shock
as Zurich Insurance head quits after finance director's 'suicide' - The
Independent
Just days after the apparent suicide of the company's finance director, Zurich
Insurance was today rocked by the resignation of its chairman Josef Ackermann.
       

Lloyds
Banking Group customers to be locked out of online accounts - The
Telegraph
Customers of Lloyds, including Halifax and Bank of Scotland, will be unable to
access online accounts.        

Bail
us out or we go bust, warns Co-op Bank - The Telegraph
The Co-op Bank has warned that it has "no Plan B" to rescue its
finances and bondholders must accept its £1.5bn bail-out plan or it will go
bust.        

New
scam pushes up card fraud losses - BBC
Online and phone scams rose by £36m in the last financial year, driven in part
by a new variation of card fraud, figures show.

Angela
Merkel says Greece should never have been allowed to join the euro - The
Independent
Greece’s former Finance Minister, who steered the country into the single
currency, has chided Angela Merkel after the German Chancellor said the
debt-strapped country should have never been allowed to join the euro.  
     

Bank
chairman bought luxury home with bailout money - The Telegraph
Banker told investigators the $1m injection would "provide vitally needed
infusions to a bleeding patient".        

Keypads
'cause mobile banking risks' - BBC
Fraud and mistakes on fiddly keypads could create problems for people who use
banking services on their mobile phones, a regulator says.

Review
into security of mobile banking - The Telegraph
Britain's booming mobile banking sector is to be reviewed by regulators to
check banks have the right IT systems in place and that enough is being done to
protect customers from fraudsters.        

UK
markets regulator rejects EU guidance - Financial Times
The Financial Conduct Authority, which launched in April, has broken publicly
with Brussels’ formal interpretation of two different rules in the past three
months

All
aboard for Europe's shrinking bank branch network - Reuters
Banks have shut about 20,000 branches across Europe in the last four years,
including 5,500 last year and 7,200 in 2011, according to a Reuters analysis of
European Central Bank data.

 

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