323. News: They're coming for Monzo!
Episode 488 · May 20th, 2019 · 1 hr 2 mins
About this Episode
This week we have some great stories for you as Sarah and co-host Adam are joined by a couple of great guests :
- Karen Kerrigan - COO of Seedrs
- Romi Savova - CEO and founder of PensionBee
- Iona Bain - blogger at Young Money as well as industry commentator, author and speaker
We kick off the episode by taking a look at the remedies for small businesses story. Nationwide Building Society, Investec Bank and The Co-operative Bank have been granted a total of 80 million pounds from the RBS Remedies Fund Pool B. The allocations are as follows: 50 million pounds to Nationwide, 15 million to Investec bank and 15 million for Co-operative bank. The panel discusses the three banks commitments for the money and if there is any significance in the fact that the money was largely given to incumbents? Why wasn't Monzo on the list? Maybe the government thinks that they already have everything sorted out?
Next up, we talk about Metro's big short! The bank faced a shareholder revolt when ISS recommended investors to reject Metro's pay report. Since the news, some branches had to face a "run" when rumours spread over WhatsApp that the bank was going to take control over its customer's assets and customers tried to take their cash out in pure panic. The panel discusses the damage social media rumours can have on a company and how the recent events could affect the reputation of the bank? To quote Sarah: Oh dear!
A Lady Godiva, a Commodore, Dosh, Dore or Lolly? What do you call your money? Do not miss the final news story of the episode with some hilarious slangs for money and the panel unveiling the country's number one term!
Other stories include:
- HK banking licence wins
- Brits don’t back banking tech
- UK fintech investment keeps on growing
- Silicon Valley’s newest stock exchange
All this and so much more on today's show.
Don't forget to subscribe so you never miss an episode, leave a review on iTunes and let us know your thoughts on the stories @FintechInsiders on Twitter where you can also ask the hosts questions, or email firstname.lastname@example.org
This week's episode was produced by Laura Watkins and edited by Alex Woodhouse.
- Nationwide, Investec, Co-Op Bank get cash for small business lending - Reuters
- Metro Bank faces shareholder revolt
- Tencent, Alibaba, Xiaomi units win Hong Kong online banking license - Reuters
- Brits wary of new banking tech, despite high demand
- SoftBank Vision fund invests $800m in UK fintech
- SEC approves Silicon Valley stock exchange backed by Marc Andreessen
- Decoding the dough - do you know your Lady Godiva from your lolly?