I’m always looking for innovations in new banks and spent some time with MYbank, the bank created by Ant Group in 2014. My first visit was in 2017, and the bank was doing well. Focusing upon SMEs, the bank shot to massive growth volumes, making a staggering $30 billion in loans in first quarter 2022…
The Wall Street Journal reported that Apple has sent Goldman Sachs a proposal to end their partnership within the next year, leaving Apple to find a new backer for its financial products. The Apple Card program was launched in 2019 to great fanfare but, within a year, Goldman Sachs was lamenting losses and costs for the partnership….
At another recent conference McKinsey presented. Now it is easy to take a pop at McKinsey but they have produced some useful reports recently, specifically: McKinsey’s Global Banking Annual Review 2023 Fintechs: A new paradigm of growth So, I was interested in their presentation. One slide in particular stood out, titled: the four key drivers…
In a guest column six years ago James Vaccaro, then Director of Corporate Strategy at Triodos Bank, introduced the United Nations’ Principles of Responsible Banking to my community. Six years later, are they working? Apparently not. In a new guest column, James argues the industry efforts may be authentic, but they need better management to…
Space … the final frontier … these are the voyages of the challenger bank Trekkie. Our mission: to boldly go where no bank has gone before. Today, we landed on planet Earth and decided to look at financial inclusion, and the role of banks in ensuring everyone has access to an account. In some countries,…
The cryptocurrency industry is maturing and, as it does so, the government, statists and regulators are diving in to control it, as are the banks and financial institutions. In fact, it intrigued me when talking with a major institution the other day that they said they could have been Coinbase, if only their management team…
Six years ago, I wrote about John Cryan, the then CEO of Deutsche Bank, saying that most people in the bank would lose their jobs to AI. He stated at a German conference that “people behaving like robots doing mechanical things, tomorrow we’re going to have robots behaving like people”. Thirty years ago, showing my…
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