Welcome to The Finanser by Chris Skinner. The Finanser discusses all things fintech, finance, banking, technology and, most importantly, the future. Chris Skinner has been voted the most influential technologist in Britain and received a lifetime achievement award for his visionary approach to the future of money from the Payments Association. He has advised the…
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Building on the last two blogs all companies, not just in finance, have been transformed through the connected, network economy. That was the last decade’s worth of digital transformation and has led analogue companies hoping that they are now digital natives, although many are digital immigrants, still with a log of their old analogue systems…
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I was thinking more about this third revolution of financial technologies. The first was very much focused upon automation administration using mainframe computing; the second moved from pure cost reduction to the changing dynamics of how to leverage productivity and cost using the network effects of connectivity, and driven by cloud and mobile; the third…
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We are in a third generation of change in finance. When I wrote Digital Bank over a decade ago, the focus was all about reinventing banking from being physical at the core to being digital at the core. Now we have to do it all again and reach the next level where the bank is intelligent…
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A few years ago I was running a book launch in a basement. On this occasion, people had to buy the books and so the promoter gave me a Square terminal to take card payments. So far, so good … except there was no signal in the basement. No Wi-Fi, no 5G, no nothing, no…
Read More
Building on the last two blogs all companies, not just in finance, have been transformed through the connected, network economy. That was the last decade’s worth of digital transformation and has led analogue companies hoping that they are now digital natives, although many are digital immigrants, still with a log of their old analogue systems…
Read MoreI was thinking more about this third revolution of financial technologies. The first was very much focused upon automation administration using mainframe computing; the second moved from pure cost reduction to the changing dynamics of how to leverage productivity and cost using the network effects of connectivity, and driven by cloud and mobile; the third…
Read MoreWe are in a third generation of change in finance. When I wrote Digital Bank over a decade ago, the focus was all about reinventing banking from being physical at the core to being digital at the core. Now we have to do it all again and reach the next level where the bank is intelligent…
Read MoreIt’s been really interesting watching the moves of Donald Trump to Make America Great Again by doubling down on the dollar being the reserve currency of the world forever more through the GENIUS Act. Well, that’s my take anyway. Add on to this that the Trump family made billions by launching World Liberty Financial, their very…
Read MoreI clicked the other morning on Nicoo, the robot puppy, after seeing an ad on YouTube. I was going to order it for my wife’s birthday but thought, just before clicking, is this real? So, I go and Google Is Nicoo legit? and immediately realised it’s not. Later that morning, an email arrived saying that…
Read MoreEveryone has become excited about A2A in the past year or so. A2A are Account-to-Account payments. These are direct transfers of funds from one payment account (bank or e-money service) to another, bypassing intermediaries like card networks and reducing transaction costs and complexity. A2A payments leverage Open Banking technologies and APIs to deliver fast, seamless, and…
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I am always fascinated about the way in which people see what is of value and why. The exchange of beads, crystals, diamonds and gold; the use of barter to exchange sheep for goats for weddings; the emergence of digital exchange for tokens; and, of course, the issuance of cash backed by governments that are…
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I’ve been talking a lot about stablecoins of late and, in a timely fashion, Jas Shah at Fintech: Under the Hood has just landed a great primer all about such things. A Stablecoin Primer: Money for the Digital Age TL;DR Quick Take Stablecoins have evolved from early crypto-pegged concepts to fiat-backed instruments like USDC and…
Read More
As blogged yesterday, the GENIUS Act can open the doors for closed-loop networks using stablecoins that circumvent the traditional four-pillar model of issuer, acquirer, merchant and processor. Yes, it could save billions in interchange fees, but there’s another movement in stablecoins trying to change the world. This one is trying to get rid of SWIFT,…
Read MoreBuilding on the last two blogs all companies, not just in finance, have been transformed through the connected, network economy. That was the last decade’s worth of digital transformation and has led analogue companies hoping that they are now digital natives, although many are digital immigrants, still with a log of their old analogue systems…
Read MoreI was thinking more about this third revolution of financial technologies. The first was very much focused upon automation administration using mainframe computing; the second moved from pure cost reduction to the changing dynamics of how to leverage productivity and cost using the network effects of connectivity, and driven by cloud and mobile; the third…
Read MoreWe are in a third generation of change in finance. When I wrote Digital Bank over a decade ago, the focus was all about reinventing banking from being physical at the core to being digital at the core. Now we have to do it all again and reach the next level where the bank is intelligent…
Read MoreIt’s been really interesting watching the moves of Donald Trump to Make America Great Again by doubling down on the dollar being the reserve currency of the world forever more through the GENIUS Act. Well, that’s my take anyway. Add on to this that the Trump family made billions by launching World Liberty Financial, their very…
Read MoreI clicked the other morning on Nicoo, the robot puppy, after seeing an ad on YouTube. I was going to order it for my wife’s birthday but thought, just before clicking, is this real? So, I go and Google Is Nicoo legit? and immediately realised it’s not. Later that morning, an email arrived saying that…
Read MoreEveryone has become excited about A2A in the past year or so. A2A are Account-to-Account payments. These are direct transfers of funds from one payment account (bank or e-money service) to another, bypassing intermediaries like card networks and reducing transaction costs and complexity. A2A payments leverage Open Banking technologies and APIs to deliver fast, seamless, and…
Read MoreI am always fascinated about the way in which people see what is of value and why. The exchange of beads, crystals, diamonds and gold; the use of barter to exchange sheep for goats for weddings; the emergence of digital exchange for tokens; and, of course, the issuance of cash backed by governments that are…
Read More
I’ve just spent a frustrating hour trying to access my bank account. It started with trying to login online. Here’s how it went. Enter your card number and password. OK, we now need a OTP code from your app. OK, now enter a code from the SMS or email we just sent you. But then…
Read MoreI’ve been talking a lot about stablecoins of late and, in a timely fashion, Jas Shah at Fintech: Under the Hood has just landed a great primer all about such things. A Stablecoin Primer: Money for the Digital Age TL;DR Quick Take Stablecoins have evolved from early crypto-pegged concepts to fiat-backed instruments like USDC and…
Read MoreIt’s been really interesting watching the moves of Donald Trump to Make America Great Again by doubling down on the dollar being the reserve currency of the world forever more through the GENIUS Act. Well, that’s my take anyway. Add on to this that the Trump family made billions by launching World Liberty Financial, their very…
Read MoreAs blogged yesterday, the GENIUS Act can open the doors for closed-loop networks using stablecoins that circumvent the traditional four-pillar model of issuer, acquirer, merchant and processor. Yes, it could save billions in interchange fees, but there’s another movement in stablecoins trying to change the world. This one is trying to get rid of SWIFT,…
Read More
Short answer: possibly. Long answer: the GENIUS Act (the Guiding and Establishing National Innovation for U.S. Stablecoins Act) gives a massive stamp on cryptocurrency tokens, stablecoins and protecting the US dollar as the reserve currency of the world. Oh, and it also creates a major opportunity for non-banks to become players in payment processing. For…
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In recent days, I’ve discovered a lot of theorems and ideas in digital areas where, when you integrate finance and technology, you realise that you are living in a world of rocket science thinking. For example, I am spending a lot of time talking with experts about digital identity and trust, as that’s the theme…
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An awful lot of what I read these days is about stablecoins. By way of example, my things worth reading daily update is filled with news about them. Just this morning: Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations Central banks face dilemma over rise of dollar-backed stablecoins Could Britain be about…
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I went to a conference the other day where the organiser left a load of beer mats with questions about fintech. I picked them up and decided to write my thoughts. Trust you enjoy this … What was your ‘aha’ moment that led you into fintech? I never really had a moment, as I’ve been…
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Building on yesterday’s blog about onboarding me as a client based in Buckingham Palace – or was that 10 Downing Street? – there is some interesting reporting about Revolut. Why haven’t they got their UK credit license sorted? After several years of discussion with the regulators, they finally got the green light to launch a…
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I spend every day being more and more amazed at what AI can do, particularly with video. From my bedroom, I can create a whole marketing campaign with high-end advertising in just a few days. To illustrate this, I was amazed at this advert for Kalshi, a prediction markets FinTech: Aired during the NBA Finals…
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I would love to walk into a bank’s boardroom with my opening slide explaining: “Step confidently into the future of Web3 with Zond, a quantum-resistant Layer-1 blockchain* engineered to transcend today’s security limitations and safeguard your dApps, from DeFi protocols to NFT marketplaces, while powering the next generation of smart contracts in tomorrow’s digital economy.”…
Read MoreBuilding on the last two blogs all companies, not just in finance, have been transformed through the connected, network economy. That was the last decade’s worth of digital transformation and has led analogue companies hoping that they are now digital natives, although many are digital immigrants, still with a log of their old analogue systems…
Read MoreI was thinking more about this third revolution of financial technologies. The first was very much focused upon automation administration using mainframe computing; the second moved from pure cost reduction to the changing dynamics of how to leverage productivity and cost using the network effects of connectivity, and driven by cloud and mobile; the third…
Read MoreWe are in a third generation of change in finance. When I wrote Digital Bank over a decade ago, the focus was all about reinventing banking from being physical at the core to being digital at the core. Now we have to do it all again and reach the next level where the bank is intelligent…
Read MoreA few years ago I was running a book launch in a basement. On this occasion, people had to buy the books and so the promoter gave me a Square terminal to take card payments. So far, so good … except there was no signal in the basement. No Wi-Fi, no 5G, no nothing, no…
Read MoreIt’s been really interesting watching the moves of Donald Trump to Make America Great Again by doubling down on the dollar being the reserve currency of the world forever more through the GENIUS Act. Well, that’s my take anyway. Add on to this that the Trump family made billions by launching World Liberty Financial, their very…
Read MoreI clicked the other morning on Nicoo, the robot puppy, after seeing an ad on YouTube. I was going to order it for my wife’s birthday but thought, just before clicking, is this real? So, I go and Google Is Nicoo legit? and immediately realised it’s not. Later that morning, an email arrived saying that…
Read MoreI’ve been talking a lot about stablecoins of late and, in a timely fashion, Jas Shah at Fintech: Under the Hood has just landed a great primer all about such things. A Stablecoin Primer: Money for the Digital Age TL;DR Quick Take Stablecoins have evolved from early crypto-pegged concepts to fiat-backed instruments like USDC and…
Read MoreAs blogged yesterday, the GENIUS Act can open the doors for closed-loop networks using stablecoins that circumvent the traditional four-pillar model of issuer, acquirer, merchant and processor. Yes, it could save billions in interchange fees, but there’s another movement in stablecoins trying to change the world. This one is trying to get rid of SWIFT,…
Read More
Is it just me or has the whole digital currency space become hot, hot, hot? Every five minutes, I see stuff about CBDCs – who needs them?; cryptocurrencies – who’s using them?; and stablecoins – what’s that all about? The last one is intriguing me the most at the moment, as I’ve said for years:…
Read MoreThings we’re reading today include … Saudi renews bid to be Middle East fintech leader with Riyadh conference Giant Trump statue holding Bitcoin displayed outside US Capitol to mark Fed rate decision UK dominates European fintech funding How fintech is shaping Britain’s finances JPMorgan says Circle faces ‘intense’ competition from Tether, Hyperliquid and fintech rivals…
Read MoreThis week’s main discussions include … Everything is a scam and why principles matter I clicked the other morning on Nicoo, the robot puppy, after seeing an ad on YouTube. I was going to order it for my wife’s birthday but thought, just before clicking, is this real? So, I go and Google Is Nicoo…
Read MoreThings we’re reading today include: UK fintech holds European crown but UAE threat looms Britain in a worse position to deal with a financial crisis than 2008, warns former Bank governor Mervyn King Klarna Opens Up 30% In First Of Three Fintech IPOs Expected This Week Starling Bank targets £4bn valuation in secondary share sale…
Read MoreThings we’re reading today include … HSBC lands £333m from takeover of Silicon Valley Bank UK Nationwide app and internet banking back up after outage UK banks face lawsuits over mortgages that left people with huge debts Barclays boss Venkatakrishnan urges against UK bank tax “Ill-conceived offshoring is helping to destroy this bank” If it…
Read MoreThings we’re reading today include: UK banks face lawsuits over mortgages that left people with huge debts How Chase bank executives aided Epstein and funneled his money – despite staff concerns about the pedophile OFSI declines to fine UK bank over sanctions breach Global Fintech Klarna’s Upcoming IPO Could Prove Firm Is More Than A…
Read MoreThis week’s main discussions include … Will the upstarts replace the incumbents? Is it just me or has the whole digital currency space become hot, hot, hot? Every five minutes, I see stuff about CBDCs – who needs them?; cryptocurrencies – who’s using them?; and stablecoins – what’s that all about? The last one is…
Read MoreThings we’re reading today include … Revolut to make over 200 employees paper millionaires with latest share sale Revolut and Google Cloud Deepen Strategic Partnership to Power Global Growth to 100M+ Customers Fintech Veteran Moves to Stripe-Backed Tempo to Focus on Blockchain Payments Trump Media wants to corner a cryptocurrency called Cronos! Five countries represented…
Read MoreThings we’re reading today include … Cashless society concerns as survey suggests 48% of people carry physical wallet Plot to introduce digital IDs for the UK labelled a ‘dystopian nightmare’ Thousands of Lloyds staff face axe in performance overhaul Bank of England ‘very concerned’ at Trump threats to US Fed The Changing Tide of Investment:…
Read MoreThis week’s main discussions include … Everything is a scam and why principles matter I clicked the other morning on Nicoo, the robot puppy, after seeing an ad on YouTube. I was going to order it for my wife’s birthday but thought, just before clicking, is this real? So, I go and Google Is Nicoo…
Read MoreThis week’s main discussions include … Will the upstarts replace the incumbents? Is it just me or has the whole digital currency space become hot, hot, hot? Every five minutes, I see stuff about CBDCs – who needs them?; cryptocurrencies – who’s using them?; and stablecoins – what’s that all about? The last one is…
Read MoreThis week’s main discussions include … Last century processes in the digital age I’ve just had two requests for notarised ID documents: one from my accountant and another from a bank. So, I went to the notary to get notarised and they said no. It reminds me of an Amy Winehouse song: I tried to…
Read MoreThis week’s / month’s main discussions include … AI is bigger than the smartphone Twenty years ago, four critical things happened: cloud computing became mainstream; the smartphone was launched; Satoshi Nakamoto released the bitcoin whitepaper; and the global financial crisis killed all trust in traditional financial institutions. All of these things pretty much happened at…
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This week’s main blog discussions include … What is an acceptable level of fraud? Sam Altman, the founder of OpenAI and creator of ChatGPT and more – along with the PayPal Mafia – was speaking about bank capital rules this week and made an interesting comment that: “There are some FIs that will accept a…
Read MoreThis week’s main blog discussions include … How to find the launderers … or not Someone asked me this week: why isn’t digital identity working? After all, there have been numerous attempts at tackling the issue. Specifically, in finance, we have onboarding, compliance, AML, KYC, PEP and more … and yet none of it is…
Read MoreThis week’s main blog discussions include … Fintech and the Rule of 40 A colleague posted a view about Fintech and the Rule of 40 the other day. What is the Rule of 40? The Rule of 40 is a financial metric, primarily used in the Software-as-a-Service (SaaS) industry, which suggests a healthy company’s combined…
Read MoreThis week’s main blog discussions include … Designing our next banknotes: Notey McNoteFace? The Bank of England launched a platform yesterday for anyone to suggest who should be on Britain’s next generation of banknotes. Here’s the verbatim: As we begin to design the next series of banknotes, we invite you to share your views on potential…
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This week’s main blog discussions include … Is fintech young or old? I just received the latest World Economic Forum’s Future of Fintech report so, here’s a summary: The fintech industry is transitioning from rapid expansion into a phase of sustainable growth, increased collaboration and broader market reach. The fintech sector is experiencing a customer growth…
Read MoreThis week’s main blog discussions include … Are you fit to lead your bank if you don’t understand tech? I would love to walk into a bank’s boardroom with my opening slide explaining: “Step confidently into the future of Web3 with Zond, a quantum-resistant Layer-1 blockchain* engineered to transcend today’s security limitations and safeguard your…
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