Chris Skinner's blog Shaping the future of finance

I got a link to a bunch of Albert Einstein quotes the other day, one of which was: “Time does not exist. We invented it.” Some guy called Albert pic.twitter.com/JS9JMfEyJk — Chris Skinner (@Chris_Skinner) August 28, 2021 It made me think. Oh dear. Don’t make …

Things we’re reading today include … David Marcus, the lead on Diem (Libra) for Meta (Facebook), leaves Fintech founder predicts the biggest 4 banks will be worth ‘less than $100 billion’ in 5 years ‘It’s going to be very obvious that every bank needs to …

I grew up with a belief that life should be simple. You get an education; you play sport; you get a job for life; you get a partner; you get married; you buy a house; you have kids; you retire; and then you die. Or …

Things we’re reading today include … The world’s most powerful central banker gives the Bank of England cover to raise rates Zelle Fraud Scam Uses Fake Alerts to Drain Bank Accounts Stablecoins’ Tenuous Relationships With Banks The important, but not yet urgent impact of central …

As it is almost Christmas, I felt it necessary to rewrite the classic poem Twas the Night before Christmas. My version is Twas the Night before Cryptmas. Twas the Night before Cryptmas Twas the night before Cryptmas, when all through the net Not a dollar …

Things we’re reading today include: With $3 billion expected in 2021, Singapore is becoming a fintech capital The Wolf of Wall Street says the dogs of crypto coins are a scam and their creators should be jailed Starting a Digital Bank – What Does it …

I tweeted the other day that my bank received a refund from a retailer but, due to the account being in GBP (UK) and the retailer trading in zł (Poland), the refund lost a lot of value. Over £170 to be exact on a purchase …

Things we’re reading today include … Bank to close due to lack of visitors Australia bank pays out over charging dead people Deutsche Bank technology guy last visited the office in 2015 What are central bank digital currencies? Banks are still finding their footing on …

I was watching Match of the Day the other day and realised how much football moves and changes. Teams of yesteryear are now champions of Europe, whilst teams that were my shining lights growing up are now shadows of their former selves. I wonder if …

Things we’re reading today include: Revolut down: online bank hit by major issues on Black Friday Thought Machine closes $200m funding round and becomes a unicorn Deliveroo picks Goldman as broker despite US bank’s role on IPO flop China c.bank gives go-ahead to credit-scoring venture …

This week’s main blog discussions include … The end of the line I saw the news that landlines are due to be dead by 2025 in the UK. Shame? Nah, who uses a landline these days? Twenty years ago, we depended on dial-up lines for …

Things we’re reading today include … Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard The next frontier for fintech: Disruptive business models Singapore regulator warns DBS Bank over prolonged service outage Royal Bank of Scotland issues urgent warning as Facebook marketplace revealed as …

I saw the news that landlines are due to be dead by 2025 in the UK. Shame? Nah, who uses a landline these days? Twenty years ago, we depended on dial-up lines for AOL.  Today, with WiFi and mobile everywhere, we’ve moved on. It …

A long time ago, I predicted that telecoms and retailers would acquire and buy banks and vice versa. Hasn’t happened. Will it happen? I don’t think so. After so many years, I’ve realised something. Banking is difficult and does not have the same features as …

Things we’re reading today include … Dimon says he regrets comment on JPMorgan outlasting China Communist Party How likely is a ‘Britcoin’? The UK’s Journey to a Central Bank Digital Currency Several Swiss banks “reprimanded” for breaching laundering rules with Venezuelan clients Virgin bank boss …

I just picked up this chart from Systems Innovation … …. and it immeditately struck me how complicated the world is. Way back when I started out as a programmer – maybe I should go back there? – and most of my programming was greenfield. …

Things we’re reading today include … JPMorgan named most important bank to health of financial system JPMorgan CEO jokes bank will outlast China’s Communist Party U.S. banks must seek regulatory permission before engaging in certain crypto activities Bank of America Sees Stablecoin Regulation as Catalyst …

One of my regular rants is that, even with all of this innovation and disruption with technology, no one has really reinvented banking and finance. The nearest we get are companies like Ant Group, PayTM, NuBank and a few others who are offering truly differentiated …

Things we’re reading today include … Cash will soon be a spent force, says Bank official as he backs digital currency Bank stocks poised for best year since global financial crisis Santander bank DOWN: App and banking services crash – customers locked out of accounts …

I see five major groups squeezing the financial markets these days. The first one is obvious: it’s the FinTech start-up community, which is now valued as a third of all banking value. The second is clear too: it’s the Big Tech firms like Facebook and …

Things we’re reading today include … There are many signs that fintech is in a bubble A Fintech Flub Exposes Risk of Cryptocurrency Hype Crypto FOMO: Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto Why European banks have failed to crack the …

This week’s main blog discussions include … FinTech? A flash in the pan? No, it’s worth a third of all banking I met with some friends the other day, who showed some stats that demonstrate that all FinTech is worth a third of all of …

I was surprised to see Prince Harry – or is that just Harry these days? – pop up on the news talking tech. Apparently he warned Dorse and the Zuck that their platforms could incite violence just hours before the January storming of the US …

Things we’re reading today include … Biggest Risk of Crypto Is Missing Out, Warns Top Banker Carlyle dumping Metro Bank shows bank branch bet has been a disaster Biden bank cop nomination in doubt after fiery hearing Banks ordered to promptly flag cybersecurity incidents under …

I was fascinated to see a lawsuit in America where a FinTech start-up (Onsa) claims a financial incumbent (Franklin Templeton) has stolen their ideas: Franklin Resources Inc. destroyed a blockchain startup to get its technology and a “short cut” into the booming fintech market, a …

Things we’re reading today include … Fintech Lending Options Are Overtaking Traditional Banks 54% of fintech companies with over 5,000 employees have adopted AI How banks in Canada tap into AI to boost customers’ banking experience Bank-Only Stablecoins Limit Innovation, Fed’s Waller Says European Central …

I met with some friends the other day, who showed some stats that demonstrate that all FinTech is worth a third of all of the banking market worldwide. Source: CFTE’s Fintech Job Report [sum of largest 100 banks (market cap) vs sum of largest 100 Fintech companies …

Things we’re reading today include … JPMorgan says Tesla owes the bank $162 million The unexpected new best bank to work for U.S. Agencies Set to Get Even More Cautious on Crypto These 2 young entrepreneurs needed a better bank, so they built one Fintech …