Digital Bank

A banker and I were talking about the function of a bank.  He gave me the classic view: “A bank is there to take people’s money and lend it out at a profit, whilst ensuring the risk of non-payment is minimised” No it isn’t, I said.  I pushed the view that the bank is there…

Writing more and more about chatbots, robots and AI, I can see a day coming in the not too distant future where we won’t be able to tell the difference between the human and the machine.  That’s not scary science fiction, as it’s now almost science fact.  However, there is still a long way to…

When you have your basic needs covered – food and shelter – what do you need then?  According to Maslow’s hierarchy of needs, it’s our psychological needs – love, belonging, self-esteem. This is exactly where digital plays into our hearts.  Our love and belonging is in Facebook and Baidu, which is why these are so…

I blogged recently about American banks beating up the regulators to stop account access via APIs.  I heard this in various White House meetings in 2016, and assumed all banks and bank people felt the same way.  Well, they don’t.  Citi’s head of FinTech Policy, Andres Wolberg-Stok, got in touch to clarify the true situation….

I often make a keynote presentation – about two or three times a week – and try to change my presentation as frequently as possible so that those who see me two or three times in a month – and it does happen – aren’t bored but, more importantly, to ensure that I’m not bored…

You have an idea. Let’s say that it’s to make nice wooden caricatures of famous politicians.  Something that historically would have been a niche trade for the odd craft fare.  It still is, but when you go to a craft fare, the usual practice is cash only.  Not any more.  Just in a few short…

We talk a lot about bank branch closures and, to be sure, there are a lot bank branch closures.  The UK has seen 1 in 10 bank branches disappear over the last two years whilst the USA is seeing a similar trend, albeit at a slower pace.  That may be scary for some as we see…

I wrote a piece recently about the challenges of being a challenger bank.  It coincided with the news that my friends at solarisBank had just achieved a Series A funding round of €26 million.  Neatly, co-founder of solarisBank Marko Wenthin spotted my post and decided to send a reply.  Here is his thoughts on being a…