The challenge for challengers (#Anna Money, #Monese, #Monzo, #N26, #Pockit, #Wirex +++)
I’m starting to worry about FinTech as they seem to have fallen foul of regulatory compliance and, as a consequence, customer trust. The biggest challenge for a challenger is to keep customer trust AND regulatory compliance. This is what we are seeing having consequences today. The fact I’m starting to worry about FinTech, as an…
Is new banking ten times (10x) better?
Investment banking, Corporate banking, Commercial banking, Private banking and Retail banking are all very different. Too often, commentators just talk about ‘banking’. It’s not all the same. In fact, an awful lot of retail banking is propped up by investment and commercial banking. That’s where the money is made. Banks don’t make money out of…
Today is Money Rebellion Day
The climate activists of Extinction Rebellion expanded recently into a Money Rebellion, as I blogged about last Friday. Targetting the banks that pollute the planet – specifically Barclays and HSBC in the UK – they will hold a range of protests today, gluing themselves with locks to the entrance to bank branches and disrupting the…
Are most ESG efforts just PR stunts?
I wrote two years ago about the BS that Blackrock talk about the climate. I mentioned this issue again in my update on the Money Rebellion last week and what really makes me angry is that financial firms like Blackrock sign up to global agreements to protect the environment, and create a load of PR…
Rebel, Rebel, you tore your notes; hot world, I need your votes
Money Rebellion I’m finding the world a bit surreal – is it just me? Locked down for a year; totalitarian states; governments attacking people; governments killing people; black lives matter; wars rising; tensions rising; demonstrations on the streets; no concerts, entertainment or hospitality … the list goes on. Meantime, there are basic issues that still…
Will the internet be powered by CBDCs or cryptos?
I found this article from The Asia Times interesting. It discusses the idea that China is trying to displace the US dollar as a reserve currency. Difficult. The US dollar represents over 60 percent of all currency reserves around the world. For more, check Wikipedia The euro is 20 percent and yuan/renminbi doesn’t even register. But…
Money is just a construct and it’s being deconstructed
Building on yesterday’s blog, it’s an interesting moment in time. The old world structures reject cryptocurrencies whilst the new world structures accept them en masse. This was typified for me by a couple of headlines the other day: UK Bank NatWest Bars Businesses That Accept Crypto Signature Bank Goes Head-to-Head With Silvergate in Bitcoin-Backed Lending…
What is the future?
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