In that same dialogue about when banks should act to block, buy or beat new competition, I realised that the new competition is doing something quite clever. Unsurprisingly, Fintech firms look at banking and realise that it’s pretty dull and onerous stuff. AML, KYC, compliance, audit, regulatory reporting, rules and oversight of business are the…
I had an interesting discussion about change in the banking markets again the other day. We were citing emerging new players like Square, Stripe, Klarna and Lending Club, as well as players that have already emerged like PayPal and Apple Pay. In all of these cases, my colleague felt that these players have all added…
I had a really interesting evening this week, moderating an industry roundtable with panel participants including: Cliff Moyce, Strategic Adviser, DataArt Chris Barker, Managing Director, Global Head of Digital & Engineering Services, RBS, Mike Powell, Managing Director for enterprise capabilities, Financial & Risk, Thomson Reuters Scott Eblen, Chief Product Officer, Nutmeg Frank Neumann (COO, Quantstore)…
I had a really interesting conversation with Chris Barker, Head of Digital and Engineering for Royal Bank of Scotland. As usual, the conversation moved around data analytics, deep learning, artificial intelligence, building enterprise data systems, separating content from processing, re-platforming the back-end infrastructure and core systems and more. I’ll write more about that stuff tomorrow,…
I’ve been asked the same question twice this week in two separate conferences (one in Vienna, the other in San Francisco): “how will we deal with the corruptive forces when we are all on the net?” The second questioner clarified what she meant by referencing the film Enemy of the State, where Will Smith gets…
I realised recently that my course of opinion is rather different to several other commentators and felt it worth noting where we agree and disagree. Where I agree with most FinTech people is that: Digital replaces physical FinTech is changing banking forever Mobile is getting rid of cash You can have money without borders Where…
Ron Suber is President of Prosper, one of America’s first and largest peer-to-peer lenders. Who is the typical user of Prosper? Prosper is an online marketplace for credit that offers access to consumer loans. We focus on three types of borrowers. The first is the person who wants to consolidate high-interest debt with a loan that…
Through the years, I’ve seen a few changes in finance and technology. We’ve seen dress-down Friday move to dress-down everyday (if you’re a Fintech firm); we’ve seen borders and barriers breaking down between ethnicity and sexual preferences; and we’ve seen globalisation of activities. But the one thing we haven’t seen enough of is diversity of…
I was recently interviewed by Emerging Markets Review just before travelling to Korea in July. The interview lasted a while, but stunned me when they produced the magazine with yours truly front page and centre. Rather than saying anything more, here's the interview which you can download as a PDF if you prefer. The global…
