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At a conference the other day, a banker came up to me and said “oh, you’re that fintech guy who throws rocks at us all the time”. A short while later, a fintech founder came up to me and said “oh, you’re the banking guy who thinks we will all fail”. Interestingly, a short time…

My new book arrives soon. Titled Intelligent Money and sub-titled When Money Thinks For You, it should be a monster. You can order it from today here on Amazon and all other good book stores. What’s the book about? It’s all about Generative Finance where AI integrates with money. In preparation for this new book,…

The bank that wants to verify my identity but cannot accept the information … OMG, what’s going on? Under new UK government rules, there’s been a crackdown on money laundering and customer identity in the banking system. The response of the banks has been archaic to say the least. By way of example I blogged…

Sitting at a recent conference meeting, one of the folks around the table said: “technology is good, but humans are more important”. That got me thinking, and maybe not in a good way as it immediately made me see that future of machines running the world, and humans coming second. Ex Machina, Terminator, Black Mirror…

One of my readers picked me up on my articles about the use of customer data, AI and open banking last week, saying that I had missed a critical point. What had I missed? Well, the discussions were mainly about the use of customer data for marketing, advice, safety, security, risk and compliance … but…

This week’s main blog discussions include … Selling customer data – good or bad idea? Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback,…

Talking of sharing data, Salt Edge just sent me some interesting stats about Open Banking and Open Finance (there is a difference). They start by quoting that inconsistently reliable source Statista, who claim that the number of open banking users worldwide was expected to grow by an average of 50% per year between 2020 and…

Continuing my debate about data usage and data abuse, I listened to a fascinating discussion from the BBC about whether Mark Zuckerberg is a good or bad billionaire. You can listen to the podcast if interested, but a few items came up such as the release of customer data to Cambridge Analytica a few years…

After yesterday’s discussion of being careful with customer data, AI may be the solution. In previous examples of data sharing, such as those mentioned with Barclays and ING ten years ago, it was too much of a blunt instrument. The intelligence was lacking. But I can see banks moving stealthily into customer data sharing, targeting,…

Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback, not the bank – and they failed. The two specific examples I remember are Barclays…