The main blog headlines are …
Does the Fed putting America First destabilise the rest of the world?
I see a strong need for global regulatory co-ordination. In particular, in a globalised world with a global network where everyone can connect and transact in real-time, anytime, anywhere, the idea of national regulators regulating a system that does not recognise national borders seems counter-intuitive. …
The branch of the future is NOT about advice
I regularly come back to the topic of bank branches, which are topical. A recent UK headline said that a town is now branchless … Closure of Lloyds leaves this Warwickshire town with no banks … whilst another says that the closing of branches is …
BACS released UK account switching statistics this week, and it makes for interesting reading. The big winners in the first quarter of 2018 are Halifax, Nationwide and HSBC. The big losers are Co-operative Bank, Lloyds and Barclays. Why? Well, Halifax offers a great incentive to …
What is the point of an auditor?
Ever since the collapse of Enron, we’ve seen auditors under question. I’m sure most of you can remember the Enron disaster but, just in case, the company went from Energy King to Futures Basketcase faster than Lewis Hamilton could catch up with Sebastian Vettel yesterday. Much …
The UK regulators official position on crypto-assets
Building on yesterday’s discussions of regulating, I got copied on a letter that’s doing the rounds from Sam Woods, Deputy Governor of the PRA (the Prudential Regulatory Authority). It lays out the official position and expectations of the regulator when financial insitutions are dealing with …
This week’s top news headlines are …
Nearly a million fed-up customers switch banks in the past year - Daily Mail
Branch closures, IT meltdowns and vanishing cash machines have forced nearly a million disgruntled savers to ditch their bank and move to a rival in the past 12 months.
Revealed: the banks most people are switching to - Which?
Halifax, Nationwide, HSBC and Starling Bank have gained the most current account customers in the first three months of 2018, as people vote with their feet and leave their previous providers, new figures from Bacs reveal.
Bank of England to Open New Payment System to Blockchain Users - CCN
The Bank of England is executing a complete overhaul of its interbank payment system, and officials have now confirmed that it will open the network to fintech firms that process transactions across a blockchain network.
Metro Bank performs U-turn as it pushes to raise £300m overnight - The Telegraph
Bank of Asia launches digital global bank in British Virgin Islands - Global Banking & Finance Review
Operating under a banking licence from the BVI Financial Services Commission, it is the first digital bank in the Territory – and the first bank to be licensed in the BVI for over 20 years.
Bank of England says payments system can serve blockchain users - Business Insider
A revamped Bank of England payments system should be able to hook up with fintech firms using distributed ledger technology (DLT), the central bank said on Monday in a boost to the development of blockchain in Britain.
How deep will Deutsche Bank CEO Christian Sewing cut? Shareholders want details - Financial Review
Christian Sewing was barely two weeks into his role as chief executive officer of Deutsche Bank when he unveiled the outlines of a yet another turnaround plan for the German lender in April. Now shareholders say it's time to flesh out the details.
Starling Bank ditches its trademark purple for a new set of fintech clothes - City AM
Digital challenger bank Starling has revamped its debit cards, drifting away from its trademark purple colour and turning card design on its head.
Barclays to create up to 2,500 jobs at new Glasgow tech hub - The Guardian
‘Transformational’ Buchanan Wharf campus could double bank’s workforce in Scotland Barclays has announced plans to create up to 2,500 jobs in Glasgow. The bank is developing a campus in Buchanan Wharf to provide a base for its functions, technology and operations teams. Related: Barclays to move UK jobs to Frankfurt
Hackers net almost $1m in Russian bank raid - BBC News
A notorious hacking gang has struck again, stealing almost £700,000 ($910,000) from a Russian bank, reports a cyber-security company. Group-IB was called in to help Russia's PIR Bank after it noticed the theft, said the firm.
If you like the Finanser, check out our latest book: Digital Human
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...
