Open Banking has arrived … what?


The Independent notes the significant change that has crept up on us. Expect more in Canada methinks. This weekend a major change in the way banks manage your data takes place, one that could completely revolutionise how we bank, who owns our financial data and which companies can offer us targeted financial services. It’s called Open Banking and it’s driven by a new EU directive and new UK competition rules. Changes taking effect this weekend mean that banks will have to share financial data such as transaction history and spending patterns with other (regulated) third-party providers if the account holder … Continue reading Open Banking has arrived … what?

FaceBook finally gets smart and plans exit from news


Good article in Medium about the long time coming shift from FaceBook. Here is how Zuck defended the move: “The research shows that when we use social media to connect with people we care about, it can be good for our well-being. We can feel more connected and less lonely, and that correlates with long term measures of happiness and health. On the other hand, passively reading articles or watching videos even if they’re entertaining or informative may not be as good. Based on this, we’re making a major change to how we build Facebook. I’m changing the goal I give our … Continue reading FaceBook finally gets smart and plans exit from news

Deutsche admits defeat on retaining large traditional branch network


The turnaround from just yesterday from Deutsche is telling. One day they were to sell Postbank and today that idea is gone. In 2007 Postbank adherence to the branch concept was clear. No more. Finextra Deutsche Bank has abandoned plans to sell its consumer banking unit Postbank and will instead embark on a massive integration project, rationalising technology platforms and running up a EUR1 bill on restructuring and severance costs. The combined bank will serve over 20 million customers in Europe’s largest economy, 10 million of which are already using digital offerings. Today the shift away from branches that began … Continue reading Deutsche admits defeat on retaining large traditional branch network

International agreements which guarantee certain economic minima to the world population – 1964 Rand


Ben Evans has a post entitled “Asking the wrong questions” looks back at predictions from Rand. In particular a report from 1964 has several predictions, but this one, off the radar, caught my eye on the inaguration of Donald Trump. I am not going political here. Just looking at facts. Rand predicted automation would result in economic disparity and assumed we would be smart enough to work together to ensure people would not suffer as a result. Is this not the populist message? Continue reading International agreements which guarantee certain economic minima to the world population – 1964 Rand

“We are, in the simplest terms, a subscription-first business” NY Times


With that statement the NY Times in a 2020 strategy statement prove they at least understand that the days of newspaper survival on advertising are gone. The final paragraph in the introduction has three telling actions still required: For The Times to become an even more attractive destination to readers — and to maintain and strengthen its position in the years ahead — three broad areas of change are necessary. Our report must change. Our staff must change. And the way we work must change. I still believe in (online) newspaper organisations with quality reporters for obtaining real news, but … Continue reading “We are, in the simplest terms, a subscription-first business” NY Times

Facebook fake news is not new


This is the thin edge of the wedge that goes way deeper. Back in 2006 the Walmart fake marketing situation erupted. The basic theme goes back to the “on the internet nobody knows you are a dog”. You can say anything with conviction and supposed analysis and it must be true because it is there on the internet. Now there is an even deeper school of thought that this is not new, and that marketing has always been this way. However the adoption of technology with the complete absorption by a whole new demographic means fake news becomes real news. … Continue reading Facebook fake news is not new