I presented at a great conference last week on how ot start a bank. The conference featured some fine discussions of the challenges and opportunities of opening a new bank in Britain, and included a presentation from Victoria Raffé. Victoria was, until recently, the go to person fornprocessing bank licence applications with the Financial Conduct…
I picked up a few amazing quotes this week. The first was someone telling me about the payments conference they attended where one of the large UK banks (HBOS, part of Lloyds Banking Group) said that their customers were now moving to mobile only. Apparently, in the last yaer, one in five of their customers…
I regularly use the line that banks will become Value Systems Integrators, but haven’t blogged about this much, so here’s the explanation. Banks have historically controlled the value chain of finance from deposits to credit. Because of this, banks have become control freaks, believing they have to build and manage everything. It’s the reason why…
So I was talking about the big challenges of creating a Digital Bank, and am reminded of the approaches that banks take to do this. The first is the hardest, and it’s the one I described last week: transformation. A transformational bank process – where the whole bank’s business model is turned on its head…
I often sit and think about the claim from my bitcoin friends that they’ve invented money without government. I’ve blogged about it quite often too. The reason it is of so much interest is that if the blockchain and bitcoin can circumvent the financial system and the banks, then we really are in transformational times. …
