Our main stories of this week includes …
Lessons banks can learn from YouTube (and others)
I need a little time to think about my reimagined financial structure, but some of the basics are already in play such as the idea of thinking about value exchange rather than monetary exchange. Value exchange is based upon the ability to reach the world …
Using intuitive interfaces for contextual commerce
As we start to reimagine the bank, it is obvious that focus on the platform design and user experience is key, as demonstrated by YouTube. A second key factor is recognising that the world has changed thanks to the mobile network. We probably go yea, …
Whatever next generation banking is … it won’t be banking
After writing about whether we are creating faster horses when we think of applying open sourced technologies to banking, some more thoughts occurred to me: Are we applying Blockchain to clearing and settlement, rather than reimagining the whole trade cycle from liquidity structures to collateral …
I launched ValueWeb in Singapore yesterday and my friend Vladislav Solodkiy, Managing Partner at FinTech VC Fund Life.SREDA, hosted the evening. He was kind enough to share his speech with me, so I thought I’d copy it here and share with you. Enjoy! From BaaS and neobanks …
As machines take over, what will happen to the people?
I’m often asked, as we move more and more to digital communications: what will happen to the people? What will happen to the people? As we move to robotics, automated agents, augmented and artificial intelligence, what will happen to the people. If we have no …
This week’s major headlines include …
Bank of England official joins hedge fund - Financial Times
Latest regulator to move to asset management
UK's big four banks face £19bn in compensation, fines and legal costs - Guardian
Barclays, HSBC, Lloyds and RBS expected to pay out sum by end of 2017, taking total since 2011 to £75m, says Standard & Poor’s The UK’s four biggest banks face paying out £19.5bn in fines, compensation and legal expenses this year and next, taking the total since 2011 to more
Barely more than half of adults pay income tax, says report - Guardian
Receipts from individuals and companies have fallen, while VAT and banks pay more to the Treasury, finds IFS research The percentage of adults paying income tax has fallen sharply since the financial crisis, while the best-paid earners in Britain have been asked to make a bigger contribution to balancing the
The faces of Britain's banknotes – in pictures - Guardian
JMW Turner, Jane Austen and Sir Winston Churchill are the new additions to the Bank of England’s banknotes Continue reading...
Fast cash: The high-speed world of cloud-based finance - BBC
How finance in the cloud can save you time and money
RBS faces claims for £1bn in damages from small businesses - Guardian
Legal action against Royal Bank of Scotland gathers pace as 50 claimants accuse bank of pushing firms to bankruptcy for profit Small businesses alleging that Royal Bank of Scotland drove them to the wall for its own profit are to lodge claims worth more than £1bn against the bailed-out bank
Exclusive: SWIFT network says aware of multiple cyber fraud incidents - Reuters
(Reuters) - SWIFT, the global financial network that banks use to transfer billions of dollars every day, warned its customers on Monday that it was aware of "a number of recent cyber incidents" where attackers had sent fraudulent messages over its system.
Computers threaten stock pickers’ role - Financial Times
Technology set to erode industry’s traditional backbone
Bangladesh hack 'targeted bank system' - BBC
British defence contractor BAE Systems claims bank hackers in Bangladesh targeted software from Swift, a key component in the global financial system.
Bob Diamond could face grilling by shareholders over Barclays Africa bid - Guardian
Former Barclays chief executive to address shareholders in his Atlas Mara banking venture about plan to table an offer Bob Diamond is expected to face questions on Tuesday about his ambitions to mount an offer for the African arm of Barclays, the bank he used to run until 2012.
If you like the Finanser, check out our latest book: ValueWeb
The Financial Services Club is sponsored by:
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...
