This latest breach of customer data at Wells highlights an issue that Banks are just not getting the message about. I don’t know the specifics of the Wells breach, but based on the theme of this post, there is absolutely NO reason for customer data to be resident on an employees laptop. Very few data breaches are as a result of hacking. More likely they result from physical theft of hardware, and that is avoidable. Finextra: Wells Fargo hit by data breach News of the latest Wells Fargo breach comes after reports of the theft of computer equipment containing confidential … Continue reading Time to learn about data security | Banks

The signs for Banks over the next few months is distinctly negative. I’d expect the strong ones to take advantage of the situation, and maybe we will see some surprising new alignments between Banks. FT.com / In depth – Investors fear another big financial firm failure Nearly 60 per cent of US and European institutional investors surveyed by Greenwich Associates believe there will be such a failure within the next six months. Another 15 per cent think it will happen in six-12 months. “Most institutions think we are currently in the most dangerous period for global financial services firms,” said … Continue reading Investors fear another big financial firm failure