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The Future of Banking

Corporate Members Event

26 November 2019 - 6:00pm to 7:00pm

Chatham House | 10 St James's Square | London | SW1Y 4LE

Event participants

Antony Jenkins, Founder and Executive Chair, 10x Future Technologies; Group Chief Executive, Barclays (2012-15)
Tracey McDermott CBE, Group Head, Corporate Affairs, Brand & Marketing and Group Head, Conduct, Financial Crime and Compliance, Standard Chartered; Acting Chief Executive, Financial Conduct Authority (2015-16)
Chair: Patrick Jenkins, Financial Editor, FT

 

In recent years, FinTech start-ups and 'big tech' companies have expanded their foothold in the financial services market, using technology to radically transform the way in which banking services are delivered and used. These new entrants have brought with them digital and cloud-based innovations and, in the case of large technology majors, deep pockets, large customer bases and access to vast quantities of data.
 
Against this backdrop, the panellists will provide their outlook for the future of banking. What are the new technologies disrupting the financial services industry and to what extent are they reshaping society more broadly? Can traditional banks remain competitive in the face of increased competition, regulation and the high costs associated with maintaining legacy systems? And how can regulators manage the complex trade-offs associated with new entrants into the market including data protection, financial stability and inclusion?
 
The discussion will be followed by a reception at 7pm.

This event is open to Chatham House Corporate Members only. Not a member? Find out more.

For further information on the different types of Chatham House events, visit Our Events Explained.
 

Members Events Team




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Episode 27 - The Internet of No Man's Sky (IoNMS) NMS hype, open banking and emojis

Host Matt Egan is joined by the world's number one authority on No Man's Sky, producer Chris, to discuss the hype around the vast Playstation and PC game, how it was made and parallel universes. Scott Carey, online editor at Techworld.com jumps in to speak about the government's Open Banking report and how technology could change the way we bank in the future (16:00). Finally, acting editor at Macworld UK David Price is talking water pistol emojis and the strange politics of Apple (27:00).  


See acast.com/privacy for privacy and opt-out information.




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Episode 40: The Internet of Trump Sadness (IoTS) Trump on tech, Daydream & Tesco Bank hack

Host Matt Egan is in a sombre mood this week as the tech industry comes to terms with a Donald Trump US presidency. Staff writer at Macworld UK dives into what this could mean for Silicon Valley, Apple products and wether social media is at fault. Then producer Chris comes on to discuss the latest addition to the VR headset market with Google's Daydream. Will it be held back by a lack of applications though? (14:45) Finally, online editor at Computerworld UK talks about the biggest data breach at a UK bank, as Tesco Bank suffers a £2.5 million cyber theft and what this means for the banking industry as a whole (25:00).  


See acast.com/privacy for privacy and opt-out information.




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Episode 81 - The Internet of Cashierless Shopping (IoCS) Open banking, Qualcomm fines and Amazon Go

This week host Charlotte Jee breaks down open banking with Computerworld UK editor Scott Carey: what is it and why should we care?


Then audience development editor Christina Mercer explains why chip-maker Qualcomm has been fined nearly €1 billion and the EU's sustained attack on big tech (12:00)


Last up is senior staff writer at Tech Advisor Dom Preston to talk about Amazon's revolutionary concept Go store opening in Seattle and if this is really the future of shopping (20:00).

 

See acast.com/privacy for privacy and opt-out information.




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The World Bank - why it matters for global health

The world bank was set up in 1944. In the aftermath of the second world war, the institution was there to give loans to countries rebuilding after the conflict. Their first loan went to France - but with stipulations about repayment that set a tone for future funds. A new series, authored by Devi Sridhar, and her team from the University of...




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The World Bank - Universal Healthcare

The world bank was set up in 1944. In the aftermath of the second world war, the institution was there to give loans to countries rebuilding after the conflict. Their first loan went to France - but with stipulations about repayment that set a tone for future funds. A new series, authored by Devi Sridhar, and her team from the University of...




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The World Bank - trust funds

The world bank was set up in 1944. In the aftermath of the second world war, the institution was there to give loans to countries rebuilding after the conflict. Their first loan went to France - but with stipulations about repayment that set a tone for future funds. A new series, authored by Devi Sridhar, and her team from the University of...




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The World Bank - the Global Financing Facility

The world bank was set up in 1944. In the aftermath of the second world war, the institution was there to give loans to countries rebuilding after the conflict. Their first loan went to France - but with stipulations about repayment that set a tone for future funds. A new series, authored by Devi Sridhar, and her team from the University of...




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Assessment of MTNR1B Type 2 Diabetes Genetic Risk Modification by Shift Work and Morningness-Eveningness Preference in the UK Biobank

Night shift work, behavioral rhythms, and the common MTNR1B risk single nucleotide polymorphism (SNP), rs10830963, associate with type 2 diabetes; however, whether they exert joint effects to exacerbate type 2 diabetes risk is unknown. Among employed participants of European ancestry in the UK Biobank (N = 189,488), we aimed to test the cross-sectional independent associations and joint interaction effects of these risk factors on odds of type 2 diabetes (n = 5,042 cases) and HbA1c levels (n = 175,156). Current shift work, definite morning or evening preference, and MTNR1B rs10830963 risk allele associated with type 2 diabetes and HbA1c levels. The effect of rs10830963 was not modified by shift work schedules. While marginal evidence of interaction between self-reported morningness-eveningness preference and rs10830963 on risk of type 2 diabetes was seen, this interaction did not persist when analysis was expanded to include all participants regardless of employment status and when accelerometer-derived sleep midpoint was used as an objective measure of morningness-eveningness preference. Our findings suggest that MTNR1B risk allele carriers who carry out shift work or have more extreme morningness-eveningness preference may not have enhanced risk of type 2 diabetes.




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World Bank predicts sharpest decline of remittances to Caribbean

WASHINGTON, CMC – The World Bank has predicted the sharpest decline of remittances to Latin America and the Caribbean, saying that global remittances on a whole are projected to fall by about 20 percent in 2020 due to the economic crisis...




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Scotiabank – a loose vampire

THE EDITOR, Madam: On May 5, 2020, at about 8:40 a.m., I went completely berserk, telling two staff members of the Bank of Nova Scotia from the Liguanea branch some proper Jamaica vernaculars, long like the Holland Bamboo. I was astonished by my...




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Glucosamine Use, Inflammation, and Genetic Susceptibility, and Incidence of Type 2 Diabetes: A Prospective Study in UK Biobank

OBJECTIVE

Glucosamine is a widely used supplement typically taken for osteoarthritis and joint pain. Emerging evidence suggests potential links of glucosamine with glucose metabolism, inflammation, and cardiometabolic risk. We prospectively analyzed the association of habitual glucosamine use with risk of type 2 diabetes (T2D) and assessed whether genetic susceptibility and inflammation status might modify the association.

RESEARCH DESIGN AND METHODS

This study analyzed 404,508 participants from the UK Biobank who were free of diabetes, cancer, or cardiovascular disease at baseline and completed the questionnaire on supplement use. Cox proportional hazards models were used to evaluate the association between habitual use of glucosamine and risk of incident T2D.

RESULTS

During a median of 8.1 years of follow-up, 7,228 incident cases of T2D were documented. Glucosamine use was associated with a significantly lower risk of T2D (hazard ratio 0.83, 95% CI 0.78–0.89) after adjustment for age, sex, BMI, race, center, Townsend deprivation index, lifestyle factors, history of disease, and other supplement use. This inverse association was more pronounced in participants with a higher blood level of baseline C-reactive protein than in those with a lower level of this inflammation marker (P-interaction = 0.02). A genetic risk score for T2D did not modify this association (P-interaction = 0.99).

CONCLUSIONS

Our findings indicate that glucosamine use is associated with a lower risk of incident T2D.




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Watch: Driver accidentally reverses onto two parked cars outside Florida bank

A Florida sheriff's office said a driver reversing out of a bank parking lot accidentally ended up backing up onto two other cars.




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Watch: Monkey enters bank kiosk in India, removes front panel of ATM

Police in India said officers suspecting thieves were behind the damage to an ATM in a bank kiosk reviewed security camera footage and discovered the machine had been partially disassembled by a curious monkey.




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Bank of England: British economy could decline 14 percent

A Bank of England report said Thursday the British economy could fall as much as 14 percent this year, which would be its worst showing in more than 300 years.




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[ Politics ] Open Question : Is it true many British and American banks and companies(Bank of England,UIC,Prescott Bush,etc) gave money and goods to Hitler secretly?




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Glycated Hemoglobin, Prediabetes, and the Links to Cardiovascular Disease: Data From UK Biobank

OBJECTIVE

HbA1c levels are increasingly measured in screening for diabetes; we investigated whether HbA1c may simultaneously improve cardiovascular disease (CVD) risk assessment, using QRISK3, American College of Cardiology/American Heart Association (ACC/AHA), and Systematic COronary Risk Evaluation (SCORE) scoring systems.

RESEARCH DESIGN AND METHODS

UK Biobank participants without baseline CVD or known diabetes (n = 357,833) were included. Associations of HbA1c with CVD was assessed using Cox models adjusting for classical risk factors. Predictive utility was determined by the C-index and net reclassification index (NRI). A separate analysis was conducted in 16,596 participants with known baseline diabetes.

RESULTS

Incident fatal or nonfatal CVD, as defined in the QRISK3 prediction model, occurred in 12,877 participants over 8.9 years. Of participants, 3.3% (n = 11,665) had prediabetes (42.0–47.9 mmol/mol [6.0–6.4%]) and 0.7% (n = 2,573) had undiagnosed diabetes (≥48.0 mmol/mol [≥6.5%]). In unadjusted models, compared with the reference group (<42.0 mmol/mol [<6.0%]), those with prediabetes and undiagnosed diabetes were at higher CVD risk: hazard ratio (HR) 1.83 (95% CI 1.69–1.97) and 2.26 (95% CI 1.96–2.60), respectively. After adjustment for classical risk factors, these attenuated to HR 1.11 (95% CI 1.03–1.20) and 1.20 (1.04–1.38), respectively. Adding HbA1c to the QRISK3 CVD risk prediction model (C-index 0.7392) yielded a small improvement in discrimination (C-index increase of 0.0004 [95% CI 0.0001–0.0007]). The NRI showed no improvement. Results were similar for models based on the ACC/AHA and SCORE risk models.

CONCLUSIONS

The near twofold higher unadjusted risk for CVD in people with prediabetes is driven mainly by abnormal levels of conventional CVD risk factors. While HbA1c adds minimally to cardiovascular risk prediction, those with prediabetes should have their conventional cardiovascular risk factors appropriately measured and managed.




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Australian banknote errors / Michael P. Vort-Ronald.




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The Banksia Tree.




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Bankruptcy and Winding Up.




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Breaking the banks / Joseph Healy.

Banks and banking.




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The winged head of a demon (?). Drawing attributed to J. Vanderbank.




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A pool surrounded by a rocky embankment thickly wooded with trees, in which a monk reads from a book and another monk stands in front of him. Engraving by W. Woollett, 1778, after R. Wilson.

London (Charlotte Street, Rathbone Place) : Published as the Act directs ... by Wm. Woollett, engraver to His Majesty, 4 June, 1778.




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Willie Neville Majoribank Chester manuscript collection, 5 November 1915 - 22 December 1918





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Health Insurance, Banking, Oil Industries Met with Koch, Chamber, Glenn Beck to Plot 2010 Election




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Central bank innovation - from Switzerland to the world

Speech by Mr Agustín Carstens, General Manager of the BIS, at the Founding Ceremony, Swiss Centre BIS Innovation Hub, Zurich, 8 October 2019.




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Central banking in challenging times

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the SUERF Annual Lecture Conference on "Populism, Economic Policies and Central Banking", SUERF/BAFFI CAREFIN Centre Conference, Milan, 8 November 2019.




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The expectations on central banks are simply too great

Original quotes from interview with Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, in Germany's Boerzen-Zeitung, conducted by Mr Mark Schroers and published on 21 November 2019.




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Lessons from 25 years of the Bank of Mexico's independence

Speech by Dr Agustín Carstens at the celebration of 25 years of Bank of Mexico independence, Mexico City, 22 November 2019.




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The future of money and the payment system: what role for central banks?

Lecture by Mr Agustín Carstens, General Manager of the BIS, at the Princeton University, Princeton, New Jersey, 5 December 2019.




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Nostalgic for the North? Take a Virtual Dogsled Ride in Fairbanks, Alaska

Armchair travelers can also enjoy 360-degree views of the city's famed Northern Lights




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Stefan Ingves: The Riksbank's measures to mitigate the effects of the corona crisis on the economy

Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank, at the Sveriges Riksbank, Stockholm, 3 April 2020.




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International bank lending and corporate debt structure

Using a cross-country sample of bank-dependent public fi rms we study the international spillovers of a change in banking regulation on corporate borrowing. For identi cation we examine how US rms' liabilities vis-a-vis banks, non-bank lenders and bond markets evolve after an increase in capital requirements implemented by the European Banking Authority (EBA) in 2011. We find that US firms experience a reduction in credit lines but not in term loans from EU banks.




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The Janus face of bank geographic complexity

This paper studies the relationship between bank geographic complexity and risk. We use a unique dataset of 96 bank holding companies around the world to measure the geographic dispersion of their affiliates. We study how this dispersion interacts with economic and regulatory conditions to affect the riskiness of the bank.




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Central bank group to assess potential cases for central bank digital currencies

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential case for central bank digital currency (CBDC) in their home jurisdictions. (Press release, 21 January 2020)




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No global real estate market despite higher price synchronisation and growing role of international investors, central banks find

No global real estate market despite higher price synchronisation and growing role of international investors, central banks find (Press release, 18 February 2020)




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Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19

Press release "Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19", 27 March 2020




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Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub invite global innovators to find solutions to the most pressing financial regulatory &amp; supervisory challenges

Press release "Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub invite global innovators to solve RegTech and SupTech challenges", 27 April 2020




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Basel Committee issues progress report on banks' implementation of the "Principles for effective risk data aggregation and reporting"

BCBS Press release "Basel Committee issues progress report on banks' implementation of the 'Principles for effective risk data aggregation and reporting'", 29 April 2020




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BIS international banking statistics at end-September 2019

Global cross-border bank claims continued to expand rapidly, growing at 9% year on year. As in previous quarters, the expansion was mainly due to claims on the non-bank sector, which grew at 12% year on year. The growth in claims on non-bank financial institutions was particularly strong (+17%). European banks' cross-border lending, which went through a prolonged contraction after the Great Financial Crisis (GFC) of 2007-09, has been expanding again since the start of 2018.




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BIS international banking statistics at end-December 2019

The annual growth rate of global cross-border bank claims fell to 6%, down from 9% at end-September 2019. The short-term share of foreign banks' claims, a key indicator of external vulnerability, is elevated for a number of borrowing emerging market and developing economies (EMDEs). Borrowers in EMDEs had untapped credit lines of $610 billion, or roughly 10% of the stock of global foreign claims on EMDEs at end-2019. Saudi Arabia joined the reporting population for the locational banking statistics (LBS) with data starting from Q4 2017, bringing the number of countries reporting these data to 48.




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Locational banking statistics

The locational banking statistics provide quarterly data on the outstanding claims and liabilities of internationally active banks located in reporting countries against counterparties residing in more than 200 countries. They capture the currency composition of banks' balance sheets and the geographical breakdown of their counterparties.




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Consolidated banking statistics

The consolidated banking statistics provide quarterly data on the worldwide consolidated positions of banks headquartered in reporting countries. They are designed to analyse the exposure of internationally active banks of different nationalities to individual countries and sectors.




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Dimitar Radev: The Bulgarian banking sector under Covid-19

Publication by Mr Dimitar Radev, Governor of the Bulgarian National Bank, in the Quarterly Bulletin of the Association of Banks in Bulgaria, issue 61, March 2020.




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Fehmi Mehmeti: The Central Bank of the Republic of Kosovo has taken steps to protect the economy from Covid-19 damages

Speech by Mr Fehmi Mehmeti, Governor of the Central Bank of the Republic of Kosovo, at the press conference where the details of the measures taken by the CBK for maintaining health in the economy were given, Pristina, 3 April 2020.




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Isabel Schnabel: The European Central Bank's response to the COVID-19 pandemic

Remarks by Ms Isabel Schnabel, Member of the Executive Board of the European Central Bank, at a 24-Hour Global Webinar co-organised by the SAFE Policy Center on "The COVID-19 Crisis and Its Aftermath: Corporate Governance Implications and Policy Challenges", Frankfurt am Main, 16 April 2020.




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Thomas Jordan: Introductory remarks, Swiss National Bank news conference

Introductory remarks by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, at the Media News Conference of the Swiss National Bank, Berne, 25 March 2020.




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Mugur Isărescu: National Bank of Romania - 140th anniversary

Speech by Mr Mugur Isărescu, Governor of the National Bank of Romania, Bucharest, 29 April 2020.




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RJ Barrett providing 200,000 meals through Mississauga Food Bank

The Mississauga Food Bank says a $100,000 donation made earlier this week by New York Knicks rookie RJ Barrett will provide 200,000 meals as part of the community's fight against the COVID-19 pandemic.



  • Sports/Basketball/NBA