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Shaping the future of finance

Digital Bank

FIDO needs more vision for digital identities

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…

FIDO

The wifi payments world of the very near future

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…

What do narrow banks mean for wide banks?

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…

Funding Circle 200515

Moving from banks as money stores to value stores

I’m talking a lot about the ValueWeb – how the internet is changing the things we value in banking, trade and commerce as well as life, love and relationships – at the moment, as this is the subject of my new book. One of the most intriguing things about the ValueWeb is the latter –…

Why the blockchain will radically alter our futures

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…

Talk about ‘access’ rather than ‘channel’

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,…

Why you should feel revulsion for the term ‘omnichannel’

A lot of folks are asking me whether I’m really saying that banks need to start all over again?  Is that really feasible, Chris?  How can you recommend that we tear down the house and rebuild it? Well, there’s a lot of reasons I can say this, and believe it. First, we started building systems…

Tellers

How to spot a fake Digital Bank

I just heard a presentation from a leading American bank on the need to be digital.  This bank claims to be a digital leader in the US and, from all the PR and headlines, you would believe they were.  Listening to their presentation, you might believe it too: Our CEO leads the digital charge Digital…

Digital channels are just lipstick on a pig

I just sat through a nice presentation from Cognizant President Prasad Chintamaneni at the CEB Summit in Boston … … and was pleased to see others referring to channels and front-end investments as sticking lipstick on a pig.   Something I’ve been saying for a while, as you have to re-engineer the core to be fit…

Prasad

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Chris Skinner
Commentator, CEO of The Finanser and best-selling author at The Finanser

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Kids creating the future bank | TEDxAthens

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