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Shaping the future of finance

Fintech

Wouldn’t it be simpler just to launch a new bank?

One of the commonest questions I’m asked is whether the bank should just launch another bank, rather than trying to be digital and convert the existing bank.  The idea is that the new bank will have no legacy, no constraints, can develop from a clean sheet of paper and be the bank’s very own challenger…

Forget legacy systems; what about legacy vendors?

I’m always blogging about replacing core systems, open source the bank, change the leadership to one that gets it and just do it.  I’m saying it so much that I’m finding myself boring.  So let’s change tack.  Who’s the vendor? Not gonna name names, but I’ve had a few really fun discussions with banks in…

Do we really need to rip up the roads?

In a discussion yesterday, I made a comment which resonated.  It was in comparing FinTech with transportation, and the idea that just because FinTech comes up with the idea of a self-driving car does not mean that we have to rip up the roads, does it?  No.  The transportation system has a huge amount of…

As traders leave, the developers arrive

I find it a little amusing to see the noise being made by banks about FinTech.  Lots of noise, not so much action.  And where there is action, it’s not necessarily real.  There are a few exceptions, but the majority seem to be tackling FinTech as more of a marketing requirement than an active cultural…

Forget GAFA, the real threat is FATBAG

I’ve blogged a few times about GAFA – Google, Apple, Facebook, Amazon – as the worrisome Gang of Four.  Sure, we can worry about them, but the thing is to stop worrying and do something.  Australian banks decide to stop Apple by taking them to court; British banks would rather partner with all of them;…

InsurTech: changing the world of risk

I haven’t blogged about InsurTech much, as this is a banking blog, but having started life in the insurance industry I guess it’s time to shine a light on this corner of the financial world. My first hearing about InsurTech, or InsTech if you prefer, was in a US conference a couple of years ago…

RegTech: Brother in Arms with FinTech

During recent months, I’ve enjoyed a real ding-dong of conversations between Europeans, Asians, Americans and Brits about FinTech and, to be more specific, RegTech. RegTech is a couple of years in catch-up with FinTech, and is all about how to use technologies to make regulations more efficient and effective. The claim is that the UK…

Banks are not dying

I was having a nice relaxing Sunday, when alerted to a tweetfest taking place between industry heavyweights Simon Taylor (an ex-banker) and Mariano Belinky (a banker).  It all started with: Fintech didn’t disrupt banks but banks are slowly dying. Creating an ever growing opportunity for #fintech — Simon Taylor (@sytaylor) September 18, 2016 @sytaylor low…

An overdraft … is that someone who checks your first draft?

I got into a conference this week (for a change) where the presenter of a roboadvising wealth manager got into a bit of a Q&A scuffle with an audience member.  Felix Niederer, founder and CEO of Zurich-based start-up True Wealth showed the stats for their customers. Most of them are over 30, and the real…

The Banking Bazaar and the Bizarre Banker

I’ve spent a lot of this week talking about marketplaces.  We have a growing number of financial marketplaces appearing.  Lending marketplaces, credit marketplaces, payments marketplaces and more.  A marketplace is the bazaar.  Market stall holders gather to meet with prospective clients, and the digital version of the marketplace is the focal point for many FinTech…

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