Digital Bank

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…

I once wrote a lot about Islamic finance, but haven’t been back there lately. I also used to write a lot about Hawala, but have also not written much lately. They are completely unrelated, except that both are popular in the Middle East, and both sit in my back pocket as examples of how to do…

I’ve had a few annoying digital instances recently. The first was a request to complete one-time password verfications … Just did an order online. First, my online retailer asked for a one-time password (OTP). Then my payment processor asked for another OTP. Then my bank asked for a third OTP. But, tbh, I don't mind….

I was listening to a fascinating debate about identity authentication, and one of the speakers referenced the fact that it was only because Dutch jews registered their identities at the start of the Second World War that so many died. I had not heard about this and immediately started Googling. Sure enough 75 per cent…

I’m a firm believer that banks rarely invest to drive revenue and elevate customer service. But I recently hosted a roundtable discussion in London with Appian, a process automation platform company, where leaders from mainstream and challenger banks in the UK gathered to discuss the challenges facing financial institutions when adopting new technology. One of…

I often return to a theme: where’s my guarantee? Where’s my backup? After the failure of Silicon Valley Bank and Signature Bank during the past week, it begs the question: where’s my guarantee? Where’s my backup? After losing money on MtGox ten years ago: where’s my guarantee? Where’s my backup? With the failure of FTX and Terra-Luna: where’s…

“When you’re not working, what do you do to de-stress?” was the last question Greg Becker, CEO of Silicon Valley Bank (SVB)*, took at an investor conference on Tuesday last week. “Cycling is my advice,” he replied. Three days later he was on his bike as his bank went into receivership.  You’ve probably seen a…