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Shaping the future of finance

Digital Bank

Can old banks keep up with new banks?

It’s interesting reflecting on my blog earlier this week from Blythe Masters speech on blockchain.  She mentioned the friction between the old system that works and the new system that’s being built, and how the two have to work together.  You have to migrate the old with minimum risk to the new, and the new…

Legacy

Banks could change, but the regulator won’t allow it

I mentioned yesterday that a bank CEO asked me the three things I would do if I were him.  My response was: create the dream, live the dream, deliver the dream.  A bit cheesy, but you need to read the context if you want to know more about the background to this. He responded by…

The three reasons banks fail to embrace digital effectively

I’ve been presenting the theme around what banks have to do to become digital for a while now, and obviously have blogged and written loads about it, and yet something still niggles in the back of my head.  I guess it’s that I’ve written some of the things down, but not all, and the thing…

Fire

Fintech attacks whilst bank CxO’s snooze

Since asking a while ago who will be the Uber of banking, I’m fed up with everyone talking about the Uber of banking.  For example, two headlines caught my eye this morning: Visa Invests in Stripe to Prep for the 'Uberization' of Retail; and Will Uber be the Uber of banking? Both stories are interesting, and demonstrate the…

Bye bye banks

Have banks made a fatal mistake with Apple Pay?

I was sitting the other day thinking about the good old days. In the good old days, if something was big and challenging, banks would get together and create a co-operative to solve the problem. SWIFT, Visa and MasterCard were all bank created co-operatives.  Admittedly, times have changed and now Visa and MasterCard are private…

PayPal

Is Fintech really so special? Maybe … or maybe not

So everyone’s excited about Fintech, but Fintech is nothing new.  Fintech is actually pretty old.  I could claim that if Fintech is about providing technology platforms to exchange finance, then that’s been around since banks first implemented technology platforms in the 1960s.  In fact, I do claim that banks are Fintech companies.  They are the…

I’d rather join a monastery than work for a bank like this

As I make my travels around the world, some markets are open to new financial players but most are pretty closed.  Regulators lock out new innovative models, and enable incumbents to be protected or allowed the luxury of time to respond.  Peer-to-peer lending is a good example for whilst there are hundreds of crowdfunding and…

When paying is free, what then?

What happens when the cost of payments reaches zero, the speed of payments is instant, and everyone globally can make and take a payment, what happens then? I just had an interesting chat with someone and realised two things: one is that we’re talking about moving away from batch to real-time, and that’s where the…

Stats

As robo-advisors take over, how do the incumbents respond?

Yesterday I said something better change, and it is. This blog has covered extensively how things are changing in payments, retail and commercial banking, but I haven’t covered investment banking or asset management as much. So here's an insight sourced from yesterday's Financial Times.  According to a poll of 400 senior executives by State Street, the custodian…

Something better change

A true story. The year is 1990 I’m travelling and getting the last train home.  Arriving at the station, I discover the last train has gone.  Darnit.  I’m homeless for the night.  OK.  Let’s find a hotel.   I look for the nearest telephone box.  Luckily there’s one at the station entrance.  In the telephone box,…

What is the future?

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