Our biggest stories of
the past week are ...
Using big data to
trace money laundering and fraud
Talking of interesting surveys, I received another one recently about
money laundering. This survey was performed by Veris, who interviewed almost
300 senior Anti-Money Laundering (AML) and compliance executives across 46
countries. Interesting findings: 61% of survey respondents cite an...
Bankers
and accountants: a cosy relationship
A good friend of mine Rob Brown, the most recommended
networked expert in the world according to LinkedIn, sent me some research he’s
just produced. It analyses the
relationship and differences between bankers and accountants. If you want a copy of the report, just email Rob.
There’s a new book out about Fred Goodwin, the former Knight
of the Realm. It shows what a control freak he was. How come no-one spoke up at
the time? Because he was some form of sociopath apparently. I’ve mentioned...
Does the networked
consumer imply incremental or fundamental change for banks?
A really interesting discussion with a group of banking
people this week about the impact of mobile and tablet computing on the banking
world. I call this change the networked consumer, and it's a phrase that is
meant to wrap...
What is a secure data
vault and should a bank be one?
I gave a presentation the other day and, as usual, concluded
that banks should position themselves as data vaults. One person then asked:
what data should a bank make secure? which is a good question to ask, as it
led...
How can a bank claim
to be 100% secure?
In yet another conversation about technology in banking, we
were discussing how the world has changed in the last ten years. In just one
decade a lightning strike has happened whereby a planet that had connectivity
became totally connected. Countries...
Things worth reading: the European View
This month's view from Europe, courtesy of Edith Rigler.
The major general news stories of the past week include ...
Disagreement
on targets preceded Zurich CFO's suicide - Reuters
ZURICH (Reuters) - On August 14, Zurich Insurance chairman Josef Ackermann
received financial chief Pierre Wauthier and head of investor relations James
Quin at his office overlooking Lake Zurich to finalize the company's
second-quarter results, due for release the next day.
Afghan
bank clerk nabs 1m dollars - The Express
A young Afghan woman bank clerk has disappeared from her job in Kabul along
with more than a million dollars.
Taxpayers
deserve to know whether Co-op Bank's boss is hero or villain - The
Telegraph
Neville Richardson presented himself to MPs as the principled man forced to
make a tough choice.
Co-op
'in cloud cuckoo land' over refusal to talk to bondholders - The
Telegraph
Irate investors attack delay over 'haircut' terms, as bank's former boss faces
grilling from MPs over fateful Britannia takeover.
Lawyers
at top City firm 'earning minimum £1.3m a year' - The Telegraph
Partners at the City's most profitable law firm are earning a minimum of £1.3m
a year, according to a new report, though researchers warned that the broader
picture is of firms fighting for business in an "overlawyered" world.
Banks
cancel smaller companies' overdrafts as cash crisis continues - The
Telegraph
Britain's small businesses could face a cash-flow crisis as banks continue to
withdraw overdraft facilities.
Banks
'dump' thousands of loyal customers - The Telegraph
NatWest orders long-standing customer to take his account elsewhere - but won’t
tell him why .
Author
nails Fred Goodwin's colours to the past of RBS - The Telegraph
If Fred Goodwin obsessed about credit risk as much as filing cabinets, RBS may
not have imploded so spectacularly, a new book claims.
Fiddling while RBS burned – new book reveals Fred the Shred Goodwin’s fatal obsessions - The Independent
No-one could have known it at the time, but the cleaner on the steps of Clydesdale Bank’s Glasgow office, sweeping up a cigarette butt one day in the late 90s, was an early warning of impending financial doom.
UK
banks pay £1bn to rescue Iceland savers - The Telegraph
Britain's banks have been forced to pay more than £1bn to savers who lost money
in failed Icelandic banks at the height of the financial crisis.
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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...
