Welcome to The Finanser by Chris Skinner. The Finanser discusses all things FinTech, finance, banking, technology and, most importantly, the future. To make an enquiry about having Chris write or speak for you, here’s an illustration of his presentations … … Chris Skinner has regularly forecast the changes in finance driven by technology. He is…
Read More
I received a bunch of interesting pings this week, but a few stood out. The main one was about the climate impact of crypto: Ethereum has managed to massively decrease its annual CO2 emissions as it has moved to a proof-of-stake blockchain. In 2021, it was creating a huge 21.95 million tons of CO2, which…
Read More
Anyone who has attended a Sibos conference or similar payments meeting will have heard the buzz about ISO 20022 for years. The idea is that this will unite the global banking industry with a new standard for all payments messages. What is ISO 20022? ISO 20022 is best described as the future of financial messaging,…
Read More
I’m talking about KYC and client onboarding again in a February 1st webinar, hosted by American Banker. The onboarding of clients is the worst part of financial services, because it has an overly onerous requirement to gain proofs. Proof of address, proof of identity, proof of existence, proof of life. You name it. It gets worse…
Read More
As I watch various series about office politics, it makes me wonder who really thinks this way. Who really thinks about destroying a competitor or a company or a colleague? I guess many of us do. But, do you do it in a collegial way? For example, if Jane is likely to be the next…
Read More
I received a bunch of interesting pings this week, but a few stood out. The main one was about the climate impact of crypto: Ethereum has managed to massively decrease its annual CO2 emissions as it has moved to a proof-of-stake blockchain. In 2021, it was creating a huge 21.95 million tons of CO2, which…
Read More
This week we welcomed Ghela Boskovich as guest judge. Enjoy! Links to stuff we spoke about:- The wise guy might have been wrong about Apple buying Stripe but if they don’t IPO then someone might be able to soon as they explore future options Bank of America, Wells Fargo, JP Morgan and 4 other banks working together???…
Read More
Anyone who has attended a Sibos conference or similar payments meeting will have heard the buzz about ISO 20022 for years. The idea is that this will unite the global banking industry with a new standard for all payments messages. What is ISO 20022? ISO 20022 is best described as the future of financial messaging,…
Read More
I’m talking about KYC and client onboarding again in a February 1st webinar, hosted by American Banker. The onboarding of clients is the worst part of financial services, because it has an overly onerous requirement to gain proofs. Proof of address, proof of identity, proof of existence, proof of life. You name it. It gets worse…
Read More
As I watch various series about office politics, it makes me wonder who really thinks this way. Who really thinks about destroying a competitor or a company or a colleague? I guess many of us do. But, do you do it in a collegial way? For example, if Jane is likely to be the next…
Read More
I noted to a friend the other day that, when I was young, I was quite left wing. Back then, my belief was everyone should be included; everyone was equal; no-one should be treated as lesser than me; society should ensure everyone had a minimum wage and support them. Then I grew up. I became…
Read MoreThings we’re reading today include … How an obscure Mauritian bank became the darling of Indian fintech $6.6 billion fintech Wise accused by rival of harming competition How New Tech Is Transforming Finance In Emerging Markets Bitcoin Barrels Toward Historic January as Crypto Market Jumps by $280 Billion How fintech can help achieve financial wellbeing…
Read MoreThis week’s main blog discussions include … ISO 20022 … or is it ISO 20023 … 20024 … 20025? Anyone who has attended a Sibos conference or similar payments meeting will have heard the buzz about ISO 20022 for years. The idea is that this will unite the global banking industry with a new standard…
Read MoreThis week we welcomed Ghela Boskovich as guest judge. Enjoy! Links to stuff we spoke about:- The wise guy might have been wrong about Apple buying Stripe but if they don’t IPO then someone might be able to soon as they explore future options Bank of America, Wells Fargo, JP Morgan and 4 other banks working together???…
Read MoreThings we’re reading today include … Stripe Hires Investment Banks to Explore Public Listing Brazil is undergoing a fintech revolution Surge in current account customers ditching and switching their bank Edinburgh based TSB bank posts higher profits and says borrowers coping well for now Lloyds’ newly formed fintech investment team has just made its third…
Read MoreThings we’re reading today include … Celebrities call on UK banks to stop financing new oil, gas and coalfields Cost of living: Cash bonuses behind record number of bank switches Sweeping Crypto Regulation? First Update the Bank Secrecy Act Goldman Sachs signals partial retreat from consumer banking How to harness Open Banking as a fintech…
Read MoreThings we’re reading today include … The Crypto Industry’s Favorite Bank Is in Deep Trouble Aramco-backed fintech opens bank branch in London to help Muslims invest Banks demand deep changes to UK’s accountability rules Six fintech ideas VCs want you to pitch in 2023 Fintech app Plum expands into five European countries Binance holds token…
Read More
I watch the Ukraine-Russia conflict with anguish. The loss of life and property is appalling, and the bombing seems relentless. But I wonder why we fight wars with bombs today, when we could just as easily fight with computers. If you bring the network down, you win. Suffice to say that in the Ukraine-Russia war,…
Read More
Technology markets in 2022 were decimated. Tesla share price collapsed. Netflix stock has dropped more than 50% in the last year. Facebook is in freefall. Even TikTok might be in trouble. Oh, and cryptocurrencies lost 50%-80% in value. Will 2023 be better? I believe it will be and, continuing this week’s mop-up of the main…
Read More
Brushing FTX and the crypto winter to one side, a couple of other crypto-related headlines caught my attention recently. The first is America’s oldest bank, BNY Mellon (founded 1784), is offering digital custody services. BNY Mellon, America’s oldest bank, launches crypto service The bank will store private keys to access the funds and provide the same bookkeeping…
Read More
There are so many people who have been saying banks are boring, unable to change, incapable of being truly digital and challenged by challenger banks and fintech. Yet, here we are, almost at the start of 2023, and all of the challengers and start-ups are begging for banks to work with them. What’s happened? In…
Read More
Here are this year’s 11 most-read blog items but, unlike previous year’s, they are not in order as it made more sense to list them by subject matter. Therefore, the placement is in parenthesis. Enjoy! Banking in 2022: what’s going to happen? (#9) www.thefinanser.com/2022/01/banking-in-2022-whats-going-to-happen.html/ This was the forecast for banking made in January, using …
Read More
There are regular forecasts of the end of banking as we know it … “Digital wallets are the Kodak moment of banking” – @BrettKing, renowned banking futurist began our Financial Services Horizons webinar today with discussions on the future of banks and financial services in the region. Stay tuned for more insights over the next…
Read More
Thanks to David Birch, I just watched this one hour episode about the history and development of bank cards, hosted by Professor Hannah Fry on the BBC. I’m well aware of how cards started which dates back to when Frank McNamara forgot his cash and check book and created Diners Club back in the…
Read More
It’s interesting how often I see the word disruption, or things like incumbent and old. And yet, after almost twenty years of such discussion, has the old incumbent been disrupted? It doesn’t seem that way, as borne out by two articles I picked up on this week: JP Morgan remains world’s biggest systemically important bank;…
Read More
I tried to make a payment … but it doesn’t work. Oh no ☹ So I called the bank. I waited … I waited … I waited … I waited … I waited … I waited … I waited … I waited … I waited … I waited … I waited … I waited ……
Read MoreJust when you thought Fintech Uncut (FU for short) was quiet, we are back and louder than ever. Here’s to a 2023 of FU! There was a lot of angst this week, due to toxic cultures, relationships and losses – sadly just another week in Fintech and Financial Services … Here are the links to…
Read More
I recently hosted a roundtable dinner about the role of cloud computing in banking. One of the attendees, Tim Skeet, kindly sent me his thoughts about this afterwards and has given permission to share this with you. How could I resist? How Cloudy is the FinTech Future? The history of banking and tech has…
Read More
I was asked last year to develop a 2-day strategy workshop for a bank. It went well and has developed a lot further, with interactive exercises and clarification of all terms and phrases in the financial, technology and fintech space. This ensures everyone is talking the same language and understanding. It also ensures the teams…
Read More
I see a lot of people talking about 2023 as the year we see the FinTech markets separate the wheat from the chaff. No wonder when you look at the stats that show it’s the end of the boom party. As reported by Hugh Son at CNBC: Many fintech companies — particularly those dealing directly…
Read MoreHere are this year’s 11 most-read blog items but, unlike previous year’s, they are not in order as it made more sense to list them by subject matter. Therefore, the placement is in parenthesis. Enjoy! Banking in 2022: what’s going to happen? (#9) www.thefinanser.com/2022/01/banking-in-2022-whats-going-to-happen.html/ This was the forecast for banking made in January, using …
Read More
I’ve covered in-depth views on FinTech in Africa, the Middle East (or is that West Asia?), Asia, Latin America and more, but feel that I skipped over India where the only in-depth views I’ve shared has been about PayTM. So, this time, it’s India’s turn. According to Ernst & Young – or is it just EY…
Read MoreIn our final FU before Christmas, we made it a jolly one and, before you watch this week’s show, how about a little quiz for yourself? The fastest growing service ever launched achieved over a million users in five days. Who or what is it? Central banks cannot go bankrupt. However what made the Belgian…
Read More
People took great delight in telling me how some of the big FinTech trade shows this year appeared to be lots of struggling FinTech firms holding out begging bowls to banks. Many start-ups are struggling, with their cash runway running out, and they desperately need funding and investment. The banks are smiling and feeling that…
Read More
FinTech began in the 2000’s and was fuelled by new technologies – cloud computing and the smartphone in particular – alongside the failing of traditional finance when the financial crisis hit in 2008. Now that we enter a global recession, FinTech has a new challenge: dealing with no investors in a time when they need…
Read More
I’ve enjoyed the rise and rise of the Libertarian dream of ungoverned finance. In 2022, facing the reckoning, it’s now quite funny to see the Libertarians saying we need regulations. As I’ve always said: you cannot have money without governance. The challenge here however is what governance? Do we need central banks and nations to…
Read More
Just when you think that cryptocurrencies are unregulated and ridiculous, the industry spends four years to work out a set of standards to ensure trust. Who would have thought it? Global cryptoasset standards This set of global principles of good practice in the Global Cryptoasset Standards has been developed to provide a common set of…
Read More
After 2022’s bloodbath of the crypto world where so many firms were lost – FTX, Celsius, Terra, Three Arrows Capital, Voyager and Vauld to name just a few – this year will be sorting out the mess. Regulations will come to the crypto markets as will consolidation and organisation. It’s interesting that Coin Market Cap…
Read More
What excites Vitalik Buterin (Mr. Ethereum)? Vitalik Buterin is the leading thinker around smart contracts and blockchain, as well as being the inventor of ETH, the currency, and Ethereum, the platform. A really bright guy and always worth a listen. So, I was interested in his latest blog about the future of where all this…
Read More
I really did not want to write about this article on the ECB’s website but, after so much coverage (including our discussion on this week’s FU), I feel I have to. So, the ECB say bitcoin is irrelevant. Why? Well, on the back of the collapse of Terra-Luna, Three Arrows Capital, Celsius, FTX, BlockFi and more,…
Read More
It amazes me how many people misread, half-read or assume things based on what you say. There were two instances in the last week. The first: There is an error in @Chris_Skinner’sreasoning. High quality crypto assets absolutely do have fundamental value (all currencies don’t have intrinsic value.) https://t.co/vCWqi00VQV — Gene Hoffman hoffmang.xch 🌱 (@hoffmang) November…
Read More
Building on Friday’s blog, everyone is asking whether the house of crypto is falling apart like a house of cards. People are saying that Sam Bankman-Fried, the founder and faller at FTX, was running a Ponzi scheme. What is the definition of a Ponzi scheme? According to the Oxford Dictionary, it is “a form of…
Read MoreThis year is proving a testing year for everyone, but particularly for those in the cryptocurrency space. We’ve seen the collapse of Celsius, Terra-Luna, and now FTX and possibly Genesis. It just reinforces the Wild West of Crypto, which I’ve referred to often. The Financial Times commented on the collapse of FTX – surely you’ve heard…
Read More
I said yesterday that, for the moment, I’ll stick with fiat currencies as cryptocurrencies are generally quite messy when used for retail purchases. And no, I’m not speaking as an observer but as a user. To buy my Watford football shirt, I had to open an account with a crypto app – which I’ve never…
Read More
I was surprised to be voted one of the leading thinkers on Climate Change by Thinkers360 … Delighted to find myself as one of the top thinkers about #ClimateChange 2022 from @thinkers360https://t.co/gKj0JwICSZ — Chris Skinner (@Chris_Skinner) January 3, 2023 It’s probably based on my last book, and I don’t think of myself as a climate…
Read More
I haven’t written about Green Finance for a while, but then saw this over on Bloomberg and couldn’t resist sharing. The need for a global greenwashing framework by Tim Quinson, Bloomberg Greenwashing may be the biggest risk to the future of ESG investing, but there’s no firm agreement on what it means in a legal…
Read More
I’ve been talking a lot about DeFi, CeFi and HyFi, and someone said: what about ReFi? ReFi? What’s that? Well, ReFi is all about Regenerative Finance, a system to rebuild Earth. Therefore, I’m pleased to share a second post by Letty Prados. Last month, I shared her introduction about ReFi. Here is Part II! Exploring Regenerative Tokenomics. If you…
Read More
The biggest banks in the world are regularly advertising their green credentials, whilst killing the world. They claim to invest in green projects, which are trivial to the amounts they are lending to companies creating emissions and destruction. It’s kind of like a family where you say aren’t we good and then spending the evenings…
Read More
For those who follow my thinking, you will know that the latest theme is how can we use technology to make the world a better place (if you don’t, read Digital for Good). The themes are about ESG, climate change, purpose and more, but it came home to me when thinking about children. Children are…
Read More
I listened to the new British Prime Minister, Liz Truss, speaking at her Conservative Party conference. She mentioned “growth” 29 times. I know what it is like to live somewhere that isn’t feeling the benefits of economic growth … Low growth isn’t just numbers on a spreadsheet. Low growth means lower wages, fewer opportunities and…
Read More
I’ve been talking a lot about DeFi, CeFi and HyFi, and someone said: what about ReFi? ReFi? What’s that? Well, ReFi is all about Regenerative Finance, a system to rebuild Earth. Therefore, having shined a light on Gail Bradbrook’s thinking (she’s co-founder of Extinction Rebellion) for the last months, I’m pleased to introduce you to…
Read More
So for now this is the last of the guest blogs by Dr. Gail Bradbrook, the co-Founder of Extinction Rebellion. I do hope you have enjoyed something of the challenge, passion and alternative ways of seeing things that Gail has brought (find the others here). I invited Gail to contribute because I feel these difficult…
Read More
A colleague at The Financial Times picked out this quote from William Burroughs … … and it piqued my thoughts. Burroughs was a huge inspiration to David Bowie, who is a huge inspiration to me. I’ve read Naked Lunch, where this quote was taken, but they used this quote in relation to ESG. The Naked Lunch author…
Read MoreI received a bunch of interesting pings this week, but a few stood out. The main one was about the climate impact of crypto: Ethereum has managed to massively decrease its annual CO2 emissions as it has moved to a proof-of-stake blockchain. In 2021, it was creating a huge 21.95 million tons of CO2, which…
Read MoreAs I watch various series about office politics, it makes me wonder who really thinks this way. Who really thinks about destroying a competitor or a company or a colleague? I guess many of us do. But, do you do it in a collegial way? For example, if Jane is likely to be the next…
Read More
I just got pinged by a bunch of reports about 2023 looking forward and felt it worthwhile to share those that hit top of my desk. I guess the first one I’ll pick is from Deloitte, who cover all aspects of the main financial markets: Retail banking: Envisioning new ways to serve and engage with…
Read More
This week is Davos week when the mega-rich and powerful gather in a mountaintop miles away from any airport access, apart from private aircrafts of course. The theme of this week’s Davos is Co-operation in a Fragmented World “We see the manifold political, economic and social forces creating increased fragmentation on a global and national…
Read More
It’s pretty obvious that technology is changing how we relate to each other. From social media and trolling to creating avatars and the metaverse, our world is moving rapidly to one where we could feel more engaged with a hologram than with a real person sitting next to us. These things are illustrated by so…
Read More
I found it interesting to post that Société Générale is launching a new retail bank in France … “By 2025, the merged entity hopes to have 25,000 staff and operate 1,450 branches” … at the same time as another headline announces that bank branches are needed now more than ever … “The most popular reason for turning…
Read More
A preview of Michael Lewis’s FTX series: “A Fried Bankman” During the holiday season, I binge-watched Billions once more. It’s a great series, and up there with West Wing and House of Cards. But it is fiction based on fact. The fiction is the dramatisation of a hedge fund skating on thin ice against the…
Read More
Having covered the general economic outlook, let’s take a specific view of the banking sector. Not FinTech. Banking. According to Bloomberg, there will be six key trends emerging in the banking space: Big Banks Will Be Fine: big banks are well-positioned to weather what is expected to be a turbulent year. While capital levels are…
Read More
Welcome to 2023 and happy new year! Thanks for coming back and it is truly appreciated. As usual, we start the year with a range of predictions. We’ll talk through those this week, from what will happen to banking, fintech and cryptocurrencies. On first day however, let’s take a look at the general global and…
Read More
This week’s main blog discussions include … ISO 20022 … or is it ISO 20023 … 20024 … 20025? Anyone who has attended a Sibos conference or similar payments meeting will have heard the buzz about ISO 20022 for years. The idea is that this will unite the global banking industry with a new standard…
Read MoreThis week’s main blog discussions include … Just when you think that crypto has failed … Just when you think that cryptocurrencies are unregulated and ridiculous, the industry spends four years to work out a set of standards to ensure trust. Who would have thought it Has crypto failed? I’ve enjoyed the rise and rise…
Read MoreThis week’s main blog discussions include … Start 2023 knowing where you’re going I was asked last year to develop a 2-day strategy workshop for a bank. It went well and has developed a lot further, with interactive exercises and clarification of all terms and phrases in the financial, technology and fintech space … How…
Read MoreThis week’s main blog discussions include … How the world looks in 2023 Welcome to 2023 and happy new year! Thanks for coming back and it is truly appreciated. As usual, we start the year with a range of predictions. We’ll talk through those this week, from what will happen to banking, fintech and cryptocurrencies….
Read MoreThis week’s main blog discussions include … Goodbye 2022 (and good riddance) I don’t know about you, but 2022 was a weird year for me. It started with pandemic controls being loosened, and I assumed it would be business back to normal and a great year. Instead, everyone started striking and laying people off. There…
Read More
This week’s main blog discussions include … 8 steps to innovation, as recommended by Robin Sharma Just saw Robin Sharma speaking at an event on innovation, who spoke before me. If you don’t know him, he’s been writing about leadership and innovation for years and, by background, was trained as a lawyer. He’s also a self-help…
Read More
This week’s main blog discussions include … The future of money, according to Vitalik Buterin What excites Vitalik Buterin (Mr. Ethereum)? Vitalik Buterin is the leading thinker around smart contracts and blockchain, as well as being the inventor of ETH, the currency, and Ethereum, the platform. A really bright guy and always worth a listen….
Read MoreThis week’s main blog discussions include … The Crypto House of Cards Building on Friday’s blog, everyone is asking whether the house of crypto is falling apart like a house of cards. People are saying that Sam Bankman-Fried, the founder and faller at FTX, was running a Ponzi scheme. What is the definition of a…
Read MoreThis week’s main blog discussions include: This week’s FU! Before you watch this week’s show on the biggest, most controversial and WTF stories of #fintechuncut, candid commentary on the biggest #Fintech and #FinancialServices stories of the week that was, how about a little quiz for yourself? Who is in desperate need of money as a result…
Read MoreBefore you watch this week’s show on the biggest, most controversial and WTF stories of #fintechuncut, candid commentary on the biggest #Fintech and #FinancialServices stories of the week that was, how about a little quiz for yourself? Who is in desperate need of money as a result of the collapse of #FTX? #crypto Stephanie Ferris, FIS’s new…
Read More
Thinkers360 Thought Leader
Best CEO of the Year UK 2022
Best Digital Finance Provider of the Year UK 2022
Best Financial Markets Adviser of the Year UK 2022
Portal to the Knowledge Base of the Financial Services Club UK 2022
Financial Markets Advisor of the Year UK 2022
Best Financial Markets Adviser of the Year UK 2022
Portal to the Knowledge Base of the Financial Services Club UK 2022
Financial Markets Advisor of the Year UK 2022
