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jerryking : hsbc   5

From Google Wallet to bitcoin, banks’ grip on savers is loosening - The Globe and Mail
From Google Wallet to bitcoin, banks’ grip on savers is loosening Add to ...
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If HSBC is contemplating becoming less local in its U.K. home market, it may be because their “local” knowledge tells them that in parts of Africa, ordinary people are doing cashless payment transactions by cellphone without the need of complex apps, not to mention debit cards or cheques....The real risk for the banks, however, is disintermediation, where the social media and Internet platforms simply channel moneydata from customers to retailers or from lenders to borrowers without bank intervention. Crowd funding and peer-to-peer lending platforms are still in their infancy, but that is probably because they lack the connection to the vast pot of money that would be available from a Google-bank or Face-bank.

Finally, there is the money issue, made relevant by the bizarre phenomenon of bitcoin, the ultimate disintermediation tool. If the unit of value as well as the medium of exchange moved out of the world of banking and into the ether, the transition to a debanked world would be complete.

LONDON — The Globe and Mail

Published Thursday, Dec. 12 2013
banks  banking  Google  Facebook  P2P  peer-to-peer  HSBC  disintermediation  bitcoin  regulation  mobile_payments 
december 2013 by jerryking
Good Value
Saturday 8 August 2009 | The Guardian | by Giles Foden who reviews book by Stephen Green.
book_reviews  banking  Northwood  HSBC 
april 2010 by jerryking
Asian Deal Journal: Tapping Into Private Wealth -
MARCH 22, 2010 | Wall Street Journal | By NISHA GOPALAN. Banks Rush to Tap Asia's Wealth
private_banking  China  India  high_net_worth  Citigroup  Barclays  UBS  HSBC  JPMorgan_Chase 
april 2010 by jerryking

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