Digital Bank

The Cryptowolf is here … or is it a cryptodog? April 20 was Dogecoin day. Did you notice? Retweet if you are ready for #DogeDay pic.twitter.com/z00Wm7pE96 — DogeCoinResearch (@dogeresearch) April 19, 2021 Probably not and it’s why I’m feeling there is a seismic change taking place in the last year. …

Building on my AML – or is that MAL? – blog, I was thinking about the cost of compliance and all of those 1000’s of people working in such functions. Then I was thinking that they are completely ineffective. I always remember presenting to a big conference of risk managers …

For years, we’ve talked about banks having a spaghetti systems structure aligned to a line of business product-centric organisation, that focuses upon the internal sales process rather than the customer. It’s true, but it’s due to the longevity of many banks. Some banks are over 500 years old and most …

I’ve recently contributed to an Oracle report, providing the foreword – the report can be downloaded here – and highlights how data is changing the financial services landscape, and how banks can: thrive in the face of ravenous competition from digital banks, fintechs and tech players build an open banking …

I was reflecting, which is dangerous. I was reflecting on my antipathy towards bitcoin as, like most bankers, it appeared to be a bit of a scam with no asset behind it. Then I woke up to what the libertarians have been saying to me all along: any currency is …

OK, I’m a Victor Meldrew and have several pet hates. In particular, people who use corporate-speak … Source: Forbes In banking, there are two terms I hate: channel (and all of its derivatives like omnichannel and mulitchannel) and, more recently, embedded. Folks who regularly read the blog know that I hate …

Following on from why startups will fail if they compete head-to-head with a bank, I got this headline the other day saying that smaller banks have the happiest customers. The latest analysis of feedback and complaints data conducted by consumer website Fairer Finance shows that big brands such as Halifax, Nationwide, …

We talk a lot these days about neobanks, challenger banks, bank disrupters, bank disintermediation, banks will fail and such like. I have a contrarian view, for a change, and believe that any start-up that challenges a bank will fail. As I say, it’s a contrarian view. Why would you start-up …

Welcome to the World of Next A few years ago, a friend of mine had an idea. It was to create a digital exchange between anything that anyone believed was of value. You may value USD, €, CN¥ or other currencies. Equally you may value BTC, ETH, XRP or other …

Last year, I blogged about the view of Deutsche Bank regarding the future of payments. They produced three reports: Part I: Cash: The Dinosaur Will Survive… For Now Part II: Moving To Digital Wallets And The Extinction Of Plastic Cards Part III: Digital Currencies: The Ultimate Hard Power Tool … …

After discussing 2030 and beyond yesterday, I got into an interesting discussion about 2050 and beyond the other day. It started with looking back 25 years and looking forward 25. Looking back 25 years, I realised that discussions of modular, object-oriented, service-based banking is now really old. I was having …

I was recently asked to deliver a presentation set in the year 2030. It was challenging, but interesting. The session was recorded, you can watch it here … … or, if you don’t want or cannot watch it, then here’s the transcript. A 2030 retrospective [transcript] Hi, I’m Chris Skinner …

The two perennial debates we have in banking are a future that is cashless and branchless. Cash is going down, but is not eradicated; branches are closing fast, but still here. Are they necessary? I raise this as I got two reports from strong and trusted sources in the past …

A lot of our history in the future will be digital Our future is digital. Just as we look back today and enjoy our physical inheritances of books, music and art, we will look back tomorrow at our digital inheritances of books, music and art. The only difference is today …

I’ve noticed that Wal*Mart has recently been hiring bankers. Goldman Sachs’ bankers to be exact. Goldman Sachs Marcus’s bankers to be more specific. Bloomberg Omer Ismail, the head of Goldman’s consumer bank [Marcus], is making a surprise exit to the fintech, according to people with knowledge of the matter. The …