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 Post subject: Re: The AIB thread
PostPosted: Thu Jun 01, 2017 9:21 pm 
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Posts: 618
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


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 Post subject: Re: The AIB thread
PostPosted: Thu Jun 01, 2017 10:04 pm 
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Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 6:03 am 
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AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 8:36 am 
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Joined: Jan 7, 2008
Posts: 638
Skippy 3 wrote:
AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 9:14 am 
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tinneym wrote:
All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


I never thought about that.
Excellent point.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 9:52 am 
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Of Systemic Importance

Joined: Feb 8, 2007
Posts: 5197
AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?

I can't see it. Disruption has been happening in capital light sections of the economy. Bank lending is anything but capital light, if you want any degree of scale in the industry, you need billions of capital.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 11:03 am 
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Joined: Mar 25, 2008
Posts: 858
Location: North Dublin
tinneym wrote:
Skippy 3 wrote:
AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


Going a bit OT here - but the reason why moving your number to a different network is so easy is because the system has been designed in that way and it is part of the standard. (Very) Simply put, the phone number is largely irrelevant for the operator as well as call routing. It is achieved (again, very simplified) by having 2 numbers: SIM card and phone number, so all you need is to update the phone number database with the new sim card number and all is sorted. A bit like the link between web URL and IP address via DNS.
IBAN and to a lesser extend BIC are (AFAIK) in fact at the heart of SEPA, and do not have a comparable system. I am not sure if I could see the benefits / ROI on introducing this, for either customer nor banks itself. Open for discussion though.
TelCo innovation move at a much faster speed than banking innovation, so it is much easier to introduce large changes.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 3:42 pm 
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Compliance with anti-money laundering requirements also makes switching difficult.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 5:14 pm 
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Location: London, innit
Luan wrote:
Compliance with anti-money laundering requirements also makes switching difficult.

Number26 made it really easy. Basically a Skype call with someone who looks at your passport over the interwebs (plus you post or scan utility bills)


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 5:23 pm 
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Joined: Oct 11, 2012
Posts: 707
I was talking to someone who is in the process of establishing an online retail bank in the US. Says he can easily provide free banking by keeping deposits in US Treasuries and making money out of debit card transaction fees (to the retailer of course, not the customer). Also said the only reason Apple and Amazon don't provide direct banking services is that the terms of US banking law would require the entire corporation to be subject to banking regulations if they did.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 11:31 pm 
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Joined: May 18, 2016
Posts: 23
Luan wrote:
Compliance with anti-money laundering requirements also makes switching difficult.


That's the reason AIB gave me when I asked why I have to fill out a form to make a bank transfer of more than 5k (then there's the 5 days for transfer to be processed and funds to clear -- unless you cough up the fee €25 for express transfer).

Not that I do personal transfers of that size all that often, but the experience would make me switch banks if I had to do it again anytime soon.


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 Post subject: Re: The AIB thread
PostPosted: Sat Jun 03, 2017 6:39 am 
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Anyone who wants to extend me a peer-to-peer overdraft send me a pm.

I pay 50% interest and will happily accept bitcoin 8)


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 Post subject: Re: The AIB thread
PostPosted: Sun Jun 04, 2017 7:56 pm 
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Posts: 2570
Surely innovation/distruption is a major threat on the retail side?

The likes of Revolut (which I've used) N26 (which I have not) are gaining a foothold. I use revolut for Amazon etc. but browsing online others use it as an alternative to their usual debit card to avoid bank fees

On the commercial side I'm not so sure alternatives such as these would work

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. Sunday Independent - June 1 2008

I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


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 Post subject: Re: The AIB thread
PostPosted: Mon Jun 12, 2017 9:13 pm 
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Of Systemic Importance

Joined: Jun 9, 2008
Posts: 7098
Quote:
We will be at the heart of our customers’ financial lives by always being useful, always informing and always providing an
exceptional customer experience.

We will deliver a bank with compelling, sustainable capital returns and a considered, transparent and controlled risk profile.


Shitposting in the AIB roadshow doc.

Prospectus - a whopping 700 pager :D

https://www.scribd.com/document/3510833 ... l-12062017

Roadshow 51 pager of pretty pictures and nicey feely grooves

https://www.scribd.com/document/3510833 ... tion-FINAL

Put them on scribd to avoid you lazies having to go through the wholly ridiculous (at this stage) warnings and disclaimers.

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“Don't ask the barber if you need a haircut—and don’t ask an academic if what he does is relevant.” Nassim Nicholas Taleb


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 Post subject: Re: The AIB thread
PostPosted: Mon Jun 12, 2017 10:00 pm 
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Joined: Oct 19, 2010
Posts: 2670
Location: Dublin SE
grumpy wrote:
Quote:
We will be at the heart of our customers’ financial lives by always being useful, always informing and always providing an
exceptional customer experience.

We will deliver a bank with compelling, sustainable capital returns and a considered, transparent and controlled risk profile.


Shitposting in the AIB roadshow doc.

Prospectus - a whopping 700 pager :D

https://www.scribd.com/document/3510833 ... l-12062017

Roadshow 51 pager of pretty pictures and nicey feely grooves

https://www.scribd.com/document/3510833 ... tion-FINAL

Put them on scribd to avoid you lazies having to go through the wholly ridiculous (at this stage) warnings and disclaimers.

Are you taking a punt Grumpy?

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"Perfect is the enemy of the good"
Voltaire (1694 - 1778)


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