The main blog headlines are …
Over the next decade, over $2.5 trillion will be generated by blockchain trade
I just saw a report from the World Economic Forum, who estimate that over $1 trillion in new trade will be created through blockchain-based distributed ledger technologies (DLT) over the next decade. They also estimate it will reduce the global trading gap by $1.5 trillion. …
Why banks have armies of developers
I sometimes write blog posts that I actually disagree with. I write it to provoke reactions, and to test my own thinking. As a result, I think I usually annoy people in banks who read my writing but, instead, I actually get a quite a …
How Lehmans collapse started the FinTech fire
It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the …
A third of banks expect to hold cryptocurrencies on their balance sheets
I received a really interesting report from the law firm DLA Piper last week. The report is focused upon how blockchain is changing the financial services markets around the world, with the aim of establishing the position of major financial institutions with regards to cryptocurrencies …
What happens to banks if there’s a no-deal #Brexit?
There was a big hoo-haa last week when UK Gov released their analysis of a no-deal Brexit. A no-deal Brexit is if we reach 29th March 2019, two years after triggering the exit process and an effective D-Day, without agreeing terms between UK Gov and …
This week’s top news headlines are …
French court rejects Jérôme Kerviel request for retrial - Financial Times
HSBC’s turnround: a touchy feely recipe for success - Financial Times
John Flint leaves concepts intentionally vague, but veteran bankers are not impressed
Barclays customers vent their anger after banking services go down for several hours - The Telegraph
Danske Bank money laundering 'is biggest scandal in Europe' - Guardian
Unpleasant lesson of €200bn case shows need to be vigilant – European commission The European commission has described the €200bn (£178m) money-laundering case at Denmark’s largest bank as “the biggest scandal” in Europe. Vera Jourová, the European commissioner for justice, said she would summon ministers from Denmark and Estonia to
Barclays internet banking restored after technical problem - Guardian
Bank follows TSB in facing difficulties but normal service resumes after a few hours Millions of Barclays customers were unable to access their accounts online for several hours after the bank became the latest high street lender to suffer a technical glitch. The problems emerged at 10.45am on Thursday and
Britain lets Putin move his dark money with impunity. That has to stop | Oliver Bullough - Guardian
The Danske bank money-laundering scandal was only possible thanks to Britain’s opaque corporate laws Vladimir Putin’s global power is inseparable from his mastery of dark money, which he moves secretly to buy assets and influence. We know he’s doing it, because we can see the effects – the convulsions in
Funding Circle seeks valuation of up to £1.8bn in IPO - Financial Times
P2P lender’s flotation to test investor appetite for new generation of fintechs
Social media could destabilise the economy, Bank of England warns - The Telegraph
Danske bank chief resigns over €200bn money-laundering scandal - The Guardian
Thomas Borgen admits most of £180bn that passed through Estonian branch was fraudulent The boss of Denmark’s biggest bank has resigned after admitting that the vast majority of €200bn (£178bn) flowing through its Estonian branch was money-laundered cash flowing illegally out of Russia, the UK and the British Virgin Islands.
TSB to bid for £833m RBS fund despite IT meltdown - The Telegraph
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...
