Digital Bank

I am getting more and more blown away by AI these days. Not only is ChatGPT able to write my blogs, but relationships are now run by deep fake robots. In a recent experiment, the US medical council did a blind test of patient treatments, where patient questions were answered by human doctors but, also,…

I was asked for an interview the other day by Sonya at Machinelab Venture and decided to say yes. It gives you a good view of me. So,here we go … Can you tell me a little about your background?  I took a degree in Management Sciences and joined IBM way back when. After a while,…

I got a nudge that my good friend Jim Marous had just published a new report, sponsored by Qorus and Infosys Finacle. 💯 Jim Marous states that: “innovation is important in banking because it drives growth, allows organisations to stay competitive, and helps solve complex problems in an ever-changing world.” Jim surveyed a range of bankers…

If you haven’t noticed recently, Apple has been making moves into money. They started with a partnership with Goldman Sachs to launch a credit card. More recently, they’ve launched Apple Pay Later, their BNPL (Buy Now Pay Later) service, and then a savings account offering 4.15 percent interest, 10x the national average in the USA….

I often use this headline: An AI Completed 360,000 Hours of Finance Work in Just Seconds in my presentations. The story is about JPMorgan who automated the checking of commercial contract wording. The AI machine they deployed was so effective at saving time that they could layoff 1,500 lawyers. Is that a good thing? Equally,…

The banking industry has always been at the forefront of adopting new technologies to improve its efficiency, effectiveness, and customer experience. In recent years, Artificial Intelligence (AI) has emerged as a game-changer in the banking sector, transforming various aspects of banking operations, from customer service to risk management, and driving significant changes in the way…

Some predict that, in the near future, the world will be run by AI robots, even Liverpool football team! The thing about AI is that it is only as good as the input it is given. For example, ChatGPT couldn’t give answers to any questions you ask it, without those answers being previously written by…

As an advocate of digitalisation, I am finding myself more and more conflicted these days. Apps don’t work; settings change; updates mess up my services; processes break and cannot be repaired without a reset; I can’t make a payment as there is no WiFi or mobile data; I can’t get home as FreeNow and Uber…

The World Bank released a free report the other day titled: FinTech and the Future of Finance. It’s an interesting read and I was going to summarise it, when I discovered on LinkedIn that my friend Richard Turrin had already done the job. Here you go: “The World Bank” delivers a great read on fintech and…

When a bank disappears from sight, can it still exist as a bank? The short answer is yes, in an invisible finance world. While I believe that banks and banking will not disappear, I do believe that most banks will. They won’t disappear completely, of course, they will just cease to be something we think…