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Digital Bank

Show me the money!

Someone turned to me the other day, mid-discussion around Facebook and their abuse of customer data, and asked: How did we get here? My answer: Because we let it happen. In the last twenty years, America has allowed big tech firms in Silicon Valley to become monolith giant monopolies of …

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Do users care about their data?

A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number of reasons. The advantage of …

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Big Banks AND Big Tech (not versus)

I’ve said for a while that the Big Tech giants will not become banks. Amazon and Alibaba will do a lot of bank-like activities, but they will never move into full-service banking, as in offering deposit accounts. Why won’t they? Because that’s full banking activity which has all of the …

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PSD2, Open Banking and Beyond

I’ve a number of great friends in the industry, and enjoy their company and contribution. One of those friends is Gijs Boudewijn, Chair of the Payment Systems Committee at the European Banking Federation who kindly quoted me in his recent presentation on Open Banking. He has also kindly allowed me to …

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Some banks get IT

I’m acutely aware that so many people write and talk about how big banks are dumb and stupid and don’t get digital, that I try to avoid that mantra personally. People do accuse me of being a bank basher, but I’d rather say that I’m a bank challenger (not a …

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