benterrett + banking   19

Amazon's AWS cloud business is reshaping how the financial services industry works — Quartz
Amazon Web Services (AWS) is the biggest provider of cloud computing, which has “massively” lowered barriers to entry for financial startups, according to Antony Jenkins, the former Barclays CEO turned fintech entrepreneur. He says tech firms used to raise millions of dollars just to buy servers; now, people who want to take on banks can use the tech giant’s cloud to quickly set up systems.
An example is Starling Bank, which is built on Amazon’s cloud. CEO Anne Boden—previously a technology executive at Royal Bank of Scotland—says processes that once cost $30 million can be done for $30,000, thanks in large part to the cloud. Likewise, 140 people can implement what used to require ten times as many employees
amazon  technology  cloud  banking  finance 
november 2017 by benterrett
Ep214 - Monzo: The First Truly Digital Bank - 11FS
“How did Instagram or Snapchat or Facebook grow? It wasn’t marketing. It was an amazing product with true network effect. We’re trying to learn those lessons. 85 or 90% of our new signups come through referral.”
monzo  tomblomfield  banking  finance  marketing 
february 2017 by benterrett
Bankrupt David James sells off possessions: why do so many footballers go bust? - Telegraph
Celebs and bankruptcy "The shame attached to bankruptcy has diminished to a point where it's all too easy to do. "
process  bankruptcy  banking  money  famous  football 
november 2014 by benterrett
Contactless cards fail to recognise foreign currency - Press Office - Newcastle University
A flaw in Visa’s contactless credit cards means they will approve unlimited cash transactions without a PIN when the amount is requested in a foreign currency.
money  technology  fintech  banking  visa  contactless 
november 2014 by benterrett
Most ATMs will remain on Windows XP after Microsoft pulls plug on OS support - Computerworld
More than six out of 10 ATM machines in the country will be running on an obsolete operating system when Microsoft pulls the plug on Windows XP support on April 8, raising serious security and compliance issues for the systems' operators.

According to the ATM Industry Association (ATMIA), about 38% of the nearly 425,000 ATMs in the U.S. that are powered by Windows XP will have migrated off the OS by next month's deadline.
microsoft  banking  it  digital 
april 2014 by benterrett
BBC NEWS | Business | Barclays pre-tax profits up 15%
"Profits before tax came in at £1.37bn ($2.07bn), up by 15% compared with the same period last year." Profits of £1B in the first quarter of the worst recession since the dinosaurs...
recessionwatch  barclays  banking 
may 2009 by benterrett
Andy Bull: The full story behind Allen Stanford's catastrophic fall-out | Sport | guardian.co.uk
"We are not aware of any genealogical relationship between Allen Stanford and Leland Stanford," said a university spokesperson at the time." Reminds me of Archer. How do these people get away with it?
creditcrunch  crooks  allenstanford  fraud  finance  banking 
february 2009 by benterrett
Thousands poised for 8p-a-month mortgages as lenders caught out by base rate cuts
"For borrowers on a £100,000 interest-only mortgage that would translate into a monthly interest payment of 8p. "
creditcrunch  mortgage  banking  funny 
january 2009 by benterrett
BBC NEWS | Business | Barclays defends its performance
"They said annual profit would be higher than £5.3bn, despite £8bn of gross write-downs at its investment bank." Bankers, eh?
banking  bank  barclays  creditcrunch  recessionwatch 
january 2009 by benterrett
FT.com / Home UK / UK - Investors 'shocked not fazed' by US volatility
"Mr Woerth said most communications with customers were now online, and log-in rates were running at record levels." The world goes into meltdown, what do people do? Log in more.
internet  banking  finance  login  web  2.0  funny 
september 2008 by benterrett
Fractional-reserve banking - Wikipedia, the free encyclopedia
"At one time, people deposited gold coins and silver coins at goldsmiths, receiving in turn a note for their deposit. Once these notes became a trusted medium of exchange an early form of paper money was born, in the form of the goldsmiths' notes."
banks  banking  paper  money  trade 
september 2008 by benterrett

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