The Bankwatch

Tracking the consumer evolution of financial services

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 requests it.

That might sound like baffling small print, but it could genuinely shake up the way in which you manage your money.

Instead of your personal data being something jealously guarded by your bank, you’ll be able to request that approved companies can also access it. That will mean they can help you analyse and improve your spending habits or simply just point you at financial services that better meet your needs.

Written by Colin Henderson

January 15, 2018 at 18:23

Posted in Uncategorized

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 product teams from focusing on helping you find relevant content to helping you have more meaningful social interactions”.

Written by Colin Henderson

January 15, 2018 at 18:05

Posted in Uncategorized

Test Post 3 – final

I have had the hardest time locating a blog tool for Mac. it has been a struggle for 5 years.  This is my latest try.  it has potential.  Cannot paste pics but able to use insert.

Written by Colin Henderson

November 27, 2017 at 00:28

Posted in Uncategorized

Test post 2


added text

Written by Colin Henderson

November 26, 2017 at 23:40

Posted in Uncategorized

Test post


I am trying out a new blog tool.  Pls disregard.



lorum Ipsum

test in quotes



  • item 1 
  • item 2
  • item n
  • item test 2


Written by Colin Henderson

November 26, 2017 at 23:31

Posted in Uncategorized

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.


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 with Barclays and other UK banks 8 years ago has finally taken hold. The idea of a large bank being branchless is no longer a dream. There are many banks using the concept of shift to sales offices as a teaser, but the reality is that the traditional $1 million + branch with tellers, cash and vault infrastructure is now defunct.

In 2006 Jim Bruene, founder of Online Banking Report wrote this report. It has indeed been a long time coming but it is happening now.

Written by Colin Henderson

March 6, 2017 at 23:54

Posted in Uncategorized

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?

Written by Colin Henderson

January 21, 2017 at 00:40

Posted in Uncategorized

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