The main blog headlines are …
What is the real difference between a challenger bank and an incumbent?
I was reading about banks being average to poor at marketing, and wondered about it. Banks’ advertising generally is about either being cool or in love with you. Here are a few examples from British banks. Lloyds: we’re old but still here with a big …
A good example of that big bank thinking I referred to yesterday is Santander, and an incident that I fumed about the other day. I usually make payments to EU companies via my business account, which pays no fees on EU payments as per PSD2 …
If deposit accounts disappear, what will banks do?
I was quite taken by a headline in yesterday’s news where Marcus Schenck, Deutsche Bank’s Co-Head of Corporate and Investment Banking, forecast that deposit accounts might disappear in the not too distant future. He was on a panel at Bloomberg’s European Capital Markets Forum and was asked …
Ant Financial’s Strategy for AI, Blockchain, Cybersecurity and more
I’ve been flying around a bit and was lucky enough to find myself onstage the other day, chairing the Ant Financial Technology Forum at Money20/20 Singapore. I was honoured to accept to be the moderator of the afternoon and guess I was chosen because Alipay …
The latest news headlines …
Will Brexit Trigger an Exodus of Banks From London? - Bloomberg
London could lose 10,000 jobs in banking and 20,000 roles in the larger field of financial services, according to Bruegel, a Brussels-based think tank. Other estimates range wildly from as many as 232,000 jobs to as few as 4,000, so view them with some skepticism.
Can Deutsche Bank Be Fixed? - New York Times
Imagine you are applying to be the C.E.O. of Deutsche Bank now that it’s reportedly seeking a successor to John Cryan, the bank’s current chief. You survey the bank’s numbers to get a sense of the opportunities and challenges you’d face. Staring you in the face is the stock price, down nearly 30 percent this year.
TSB to start linking to rivals' loan deals online in bid to boost competition - The Telegraph
RBS embarks on first takeover since ABN Amro deal that broke the bank - The Telegraph
Credit card debt growth at 12-year high - BBC
Annual growth in outstanding credit card debt speeds up owing, in part, to tap and go payments.
Europe’s costly financial shake-up may yet benefit a post-Brexit UK - The Telegraph
Billion euro cyber-suspect arrested in Spain - BBC
The individual led a prolific gang that stole cash from banks for more than five years, says Europol.
Senior banker quits Queen's lender Coutts after harassment complaints - The Telegraph
Bank accounts could disappear within 15 years according to one of Deutsche Bank's most senior execs - Business Insider
Marcus Schenck, one of the most senior executives at Deutsche Bank, believes that bank accounts as we know them now could disappear in as little as five years.
The rebel bank, printing its own notes and buying back people's debts - The Guardian
First there were the banks. Sending credit cards through the post, offering easy loans. They overstretched, teetered. Then came the billion-dollar bailouts, recession, austerity, poverty and payday loans. Then, slowly, came the movement: a piecemeal, sporadic effort to buy back the debt of ordinary people.
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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...
