Barclays Took Caution on Wirecard ‘Some Time Ago’: CEO Staley

The transcript discusses Barclays' exposure to Wirecard, highlighting their participation in a revolving credit facility and business dealings in the UK. It addresses the challenges posed to the fintech industry due to Wirecard's situation, emphasizing the safety of banks and potential scrutiny on E-wallets. The conversation shifts to auditing concerns, particularly the missed audit by Ernst and Young, and Barclays' cautious approach to Wirecard over time. The discussion concludes with the acknowledgment of significant issues that were overlooked, impacting the market.

What was Barclays' exposure to Wirecard according to the text?

How does the text describe the relationship between Wirecard, the government, and the banks?

What challenges does the text suggest the financial technology industry may face?

What concerns are raised regarding the auditing of Wirecard?

What approach has Barclays taken towards their dealings with Wirecard?