Here are our key posts for the past week …
Renewing core systems is like renovating the subways
Someone recently equated banks and their systems and structures, to the underground in London. It’s a lot of pipes, wires, cables and tunnels that were built in the Victorian times and are still operating today. You have engineers on the tracks every night and day, …
UK banks ordered to digitalise or else
On Tuesday the Competition and Markets Authority (CMA), a UK Government Agency, told British banks that they must digitalise or suffer penalties. In a report entitled Making banks work harder for you, they have ordered the UK banks to digitalise within two years or face …
An interview with Ben Milne, Founder and CEO of Dwolla
As my readers will know, I regularly interview innovators of start-ups and banks of how they see the world. These interviews constitute a third of the ValueWeb and Digital Bank books. In the interests of maintaining these case studies, as I find them interesting, I recently met …
Ant Financial core banking service in the cloud
I got into an interesting debate with two good friends in Asia over the weekend. I was sitting at home in the UK of course, but these days we are all connected globally in real-time so if you post something on Facebook or Twitter, you …
The FinTech Weekly Roundup by Anna Irrera (4)
Friend of the Financial Services Club and journalist with Financial News Anna Irrera has recently started producing a weekly roundup of FinTech news. She’s kindly agreed to let me republish this summary here on The Finanser, so here goes: On fintech and pensions… BBVA’s Outside Venture Fund …
In other news …
Angry CFO chucks analyst out of briefing - The Telegraph
IBM's Watson won Jeopardy, but can it win business from banks? -Reuters
NEW YORK (Reuters) - International Business Machines Corp is in an unusual fix in telling big U.S. banks they can use its Watson software of Jeopardy-winning fame as a cost-saving solution: bankers say they like it, but cannot afford it.
Brexit latest - BBC
The BBC looks at the latest impact of the Brexit vote on the UK's economy, and housing and jobs markets.
'Project Sauron' malware hidden for five years - BBC
A sophisticated form of malware known as Project Sauron went undetected for five years at a string of organisations, according to security researchers.
Married boss of bailed-out bank enjoys business trip with secret mistress- The Sun
The married boss of state-owned Lloyds Bank met his secret mistress for a tryst at a luxury hotel after jetting to the Far East on company business.
Watchdog targets banking 'revolution' - BBC
Britain's High Street banks have been ordered to launch a technological "revolution", in an effort to promote better competition
Lloyds faces legal fight over pensions discrimination - The Telegraph
UK taxpayers still have much to fear from RBS struggles - Financial Times
Ten years ago the board members of RBS blithely approved a reckless management decision with catastrophic consequences that could yet sink the bank. At the time they were facing criticism from investors who thought Sir Fred Goodwin’s growth machine, over-reliant on making acquisitions, had run out of road.
British jobs market 'in freefall' after Brexit vote as Bank warns 250,000 jobs will be lost over next few years - Daily Mail
Hiring by UK companies has fallen to levels not seen since the recession, according to a survey that supports the Bank of England’s claim that unemployment is set to rise following the decision to leave the EU.
Why I've cut up my contactless bank card...and you should too - Daily Mail
The other day, my bank sent me a new ‘contactless’ debit card. Immediately, I cut it up with a pair of scissors.
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...
