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Digital Bank

AML prevention lies in digital identities: the new form of money

After yesterday’s post about KYC, PEPs and AML, someone said: “so what’s the point Chris?” @FSClub not quite sure of the point you are making here. Money L bad. Hard to catch. Harder if not in official channels. It was ever thus? — Julian Lee (@JulianDDLee) May 8, 2014 The point of yesterday’s blog was…

Banking-as-a-Service, five years later

In a final note on the Digital Bank Transformation, I return to a theme I’ve explored a few times (from Banking-as-a-Service to APIs and apps). The core of the model of banking is represented in various ways, but I encapsulate it as three companies in one: a retailer that has customer intimacy; a processor that…

Decomponentisation

Banking-as-a-Service, five years later

In a final note on the Digital Bank Transformation, I return to a theme I’ve explored a few times (from Banking-as-a-Service to APIs and apps). The core of the model of banking is represented in various ways, but I encapsulate it as three companies in one: a retailer that has customer intimacy; a processor that…

Decomponentisation

Please refer to the Digital Department

I have this cheesy line in my presentation about digital is a journey, not a destination. The destination comment is that most senior bank management think it’s a one-off project, like building a pyramid or a cathedral. You make the investment and it’s done.  That’s not the case. Digital as a journey requires this to…

Please refer to the Digital Department

I have this cheesy line in my presentation about digital is a journey, not a destination. The destination comment is that most senior bank management think it’s a one-off project, like building a pyramid or a cathedral. You make the investment and it’s done.  That’s not the case. Digital as a journey requires this to…

You may be innovative today, but tomorrow you’re just an incumbent

I’m going to give up on the discussions about banks dragging heels when it comes to the global net soon, but only after a few more pieces of debate. Today, it’s all about innovation. Innovation eventually is absorbed into the mainstream and becomes the incumbent. Yahoo! was disruptive until Google appeared; Google was disruptive until…

You may be innovative today, but tomorrow you’re just an incumbent

I’m going to give up on the discussions about banks dragging heels when it comes to the global net soon, but only after a few more pieces of debate. Today, it’s all about innovation. Innovation eventually is absorbed into the mainstream and becomes the incumbent. Yahoo! was disruptive until Google appeared; Google was disruptive until…

We are not Borg, we are Human and dancing to a different tune

Building to the theme of the divide between the old world of finance and the new, and why (some) banks aren't fit for the 21st century, brings a few more points to mind, in particular about control and centralisation. Banks were built as control freaks. They need to own the complete end-to-end cycle of everything….

Old world

We are not Borg, we are Human and dancing to a different tune

Building to the theme of the divide between the old world of finance and the new, and why (some) banks aren't fit for the 21st century, brings a few more points to mind, in particular about control and centralisation. Banks were built as control freaks. They need to own the complete end-to-end cycle of everything….

Old world

Heidi Miller, Bitcoin and fitness for purpose

Building on yesterday’s theme about how a cheque from Canada has taken six weeks to process and had significant processing charges taken from the deposit as a result, reminds me of Heidi Miller’s speech from SIBOS 2004, which is still talked about today. What did Heidi say that was so compelling? She basically asked why…

What is the future?

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