I introduced the business model debate about banks yesterday, as the discussion always comes back to the new competition. Who are the new competition? Are they the upstart fintech startups or are they Google, Amazon and brethren? The answer is it’s both, but I wouldn’t worry about Google, Amazon and co as much, as they…
I regularly talk about the business model of banking and how it’s changing. The business model is based upon three things: Manufacturing, which runs the product and services innovation and administration centres in the back office; Processing, which focuses upon operational excellence in processing orders from front office through back office; and Retailing, where the…
The real way to crack the onboarding and criminal activity is to create strong and secure digital identities. We are moving in that direction, but it’s a long slow process. For ages now, I’ve written about getting rid of passwords and improving authentication using mobile technologies: Why is KYC so difficult? AML prevention lies in…
I was talking about the internet of things again today, and realised that I have a grand vision of the not too distant future where everything communicates with everything. We have chips as tiny as nanodots inside every brick, pavement slab, tyre, wall, ceiling … you name it. We have more intelligent chips inside car…
In this world of choice that emerges from the integration of new technology models and old financial models, we see hybrid systems emerging that bring together the best-of-the-best. A great example was announced today, as Metro Bank and Zopa join forces. The deal allows deposits from Metro Bank retail customers to use P2P lending as…
One of my good connections via social media is Huy Nguyen Trieu. Huy writes a regular blog at Disruptive Finance, as well as being a Managing Director for Macro Structuring at Citi. He posted something in the last week that I felt was worth re-posting here as a guest blog. Read and weep. If you can’t…
There’s an interesting debate about blockchains, sidechains and identity taking place that is emergent right now but, soon, will be mainstream. For those who are unclear about these things, blockchain is the technology protocol invented by Satoshi Nakamoto with bitcoin, although it doesn’t have to be based upon bitcoin. The blockchain allows you to create…
I’ve written quite a lot about my disdain for the use of the word channel, multichannel and omnichannel, and some people asked me: so what should we call it then? I’ve written about this too but, to be exact, we should call it Access. Augmented Access, Proximate Access, Intelligent Access or whatever phrase you want,…
