I stumbled across an interesting report by Clarivate who, using a statistical analysis, have identified the 100 most innovative companies in the world. Technology advancement is a complex composition of talent, of competition and of need. New ideas emanate from everywhere scientists, engineers and developers reside. What is the methodology? They basically take the inventiveness…
I was thinking about the balance between money, wealth and power, versus health, happiness and love. Is it versus or is it inclusive? Is happiness related to wealth, or is it true that money can’t buy you love? Obviously it’s an existential question and, tbh, I’ve met many happy people who are dirt poor and…
The Financial Brand published an interesting piece challenging the use of the word bank in a brand. It got me thinking, and agreeing with their summation, which is yes. Sure, you can have Chime, Chase, Citizens and Truist, but is that the right thing. In fact, on the last point, the use of the word…
I picked up an article talking about 16 Ways Banks Will Need To Change To Survive Advances In Fintech in Forbes. It’s a survey of an expert panel that cites that banks must do the following action points: Become Nimble And Decentralized Incentivize Culture Change Combine Security With Blockchain Technology Lean Into People-Centric Customer Service Provide…
I’ve talked a little bit about a K-shaped economy. The upside of the K is digital; the downside is physical. This really struck home with me when I saw the latest retail sales developments in the UK. According to the Office of National Statistics (ONS), Brits now order a third of their shopping on apps…
The Federal Reserve issued a paper about stablecoins at the end of January. There’s lots of good content there, but I particularly liked the way in which they opened the discussion which I have copied here (for full report click here). The basics of stablecoins Stablecoins are digital currencies recorded on distributed ledger technologies (DLTs),…
During the lockdown, banks moved rapidly to sign cloud contracts. Thing is they were signing with the likes of Amazon, Google and Microsoft, but these are all American firms. Where are the European ones? I raised this issue two years ago, but it is now coming to a head as new rules require banks to…
Banks are loners. They do it all internally. They don’t want outsiders stepping in. Too much risk. Leave us alone. Thing is, that doesn’t work anymore. Today, banks are just a component on the network of finance. They are just part of an ecosystem on a platform. Do they understand this? I don’t think so…
I’ve said for some years that digital challenger banks will not break the stranglehold of the big banks on the retail banking space. Am I wrong? According to a new report by the UK regulator the Financial Conduct Authority (FSA), things are changing fast. Around one in 12 (8%) personal current accounts are now held…
