Digital Bank

After recently attending conferences in Zurich and Paris, with most of the audience coming from the banking community, this week is Money2020 in Amsterdam and the discussions are very different. What’s the difference? Well, bankers debate regulations and fintechs discuss innovations. It constantly strikes me that, during the 2000s, I spent most of my time…

Following the Swiss meeting, I was then honoured to moderate an opening panel at EBAday with representatives of JPMorgan and Deutsche Bank. We had a wide ranging discussion but, similar to the details of CRD VI, a lot of regulations came up as top-of-mind. MCiA, EUID, CRDVI, PSD3, EUAI etc and it did intrigue me…

Some years ago an elderly gentleman entered the lobby of one of Britain’s biggest banks demanding to talk to someone about the £5 million he had been given by David Cameron. A senior manager at the bank took the gentleman to a consultation room, and it turned out that the man had been notified of…

I just ran across an item from 1994 written by Carmen Hermosillo talking about cyberspace, the internet and the future. It is quite something but TL:DR, so here are a few highlights: Introducing Humdog: Pandora’s Vox Redux (1994) “When I went into cyberspace I went into it thinking that it was a place like any…

There’s a very interesting analysis of the cyber attacks on Marks & Spencer, the Co-op and Harrods on the BBC this week. If you have access to their iPlayer, then it’s well worth a watch: https://www.bbc.co.uk/iplayer/episode/m002d2lh/inside-the-high-street-cyberattacks If you don’t, then here’s the summary as it illustrates our fragile digital world today. In April, Marks &…

After lots of discussions about how AI is transforming financial services as a new, foundational technology that has massive granularity of use cases, it doesn’t always work. In a very major public about face, Klarna says it doesn’t work. This is the company that saved millions by getting rid of two of five staff. Now,…

Just continuing the AI theme, it’s really interesting to see what Stripe – latest valuation over $90 billion – is doing with the technology. Effectively, it’s tried to create a GPT for payments. The reason they are pushing the envelope is after seeing great results in earlier developments using traditional machine learning models. These resulted…

I’ve followed Clara Durodié’s Decoding AI for some time. Decoding AI is a digital publication dedicated to AI in financial services and, in her most recent update, she delves deep into Trust, Ethics and the Rise of AI in Financial Services, which is my specialist subject of the moment. I won’t repost the whole article…

We talk a lot about AI these days or, as some call it, A1 or Al (yes, Betty, when you call me, you can call me Al) and we have now moved on to other terms including Generative AI, Agentic AI and AGI which stands for Artificial General Intelligence. The thing is that these terms…

It is notable that a few challenger neobanks are expanding footprint into telecoms, namely Revolut and N26. N26 joins Revolut in disrupting the telecommunications market The interesting thing here is that there have been many telco’s trying to move into banking – think Orange – and vice versa, but it rarely works. Orange checks out…