I keep seeing the same pattern emerging in AI conversations right now. Everyone says: we need better tools but, when you dig into what the leading firms are saying – McKinsey, IBM, Bain, Boston Consulting Group, Accenture, Anthropic and OpenAI – they’re all coming to the same conclusion: It’s not the technology that’s broken. It’s…
I was recently interviewed by the International Finance Magazine about Revolut getting their UK banking licence and what this means to banks in general. Here’s the discussion: With Revolut securing a UK banking licence after years of scrutiny, do you see this as part of a broader shift where fintech platforms are evolving into fully regulated banks?…
We’ve moved from simplicity to fragmentation and now we’re struggling with the consequences. In short, we’ve built a highly fragmented financial world in the name of innovation and now the next phase is about reconnecting it, simplifying it, and making it usable again. By way of example, you have to launch several different apps to…
I always love looking back to the past for predictions of the future. From The Jetsons flying car to the communicator in Star Trek, there are so many examples of science fiction, much of which has become science fact. Just look at SpaceX’s reusable rockets or the Artemis II crew flying around the moon, and…
It interests me that there are so many reports about pensioners or, if you’re American, seniors are the highest group of people suffering fraud, scams and hacks. What’s going on? Financial fraud and scams targeting adults over 60 have reached “epidemic proportions”, with billions lost and often many occurrences of repeat victimisation. According to recent data, roughly…
This week’s main discussions include … Did the regulator just admit that banking is a mess? I’ve just read the regulatory roadmap that the UK’s Financial Conduct Authority released this week and realised that it is less a neat plan and more a recognition that the current system is broken and we’ve run out of…
I’ve just read the regulatory roadmap that the UK’s Financial Conduct Authority released this week and realised that it is less a neat plan and more a recognition that the current system is broken and we’ve run out of road with Open Banking. For the past decade, Open Banking has been the poster child of…
I just had an interesting podcast conversation about stablecoins, Central Bank Digital Currencies (CBDCs) and tokenised deposits. Most people in finance think they understand the differences, but it’s worth pausing for a moment, because the distinctions really matter. At a very simple level: stablecoins are privately issued digital tokens (think USDC or Tether) backed by…
It was interesting that, last week, US regulators called an urgent meeting with the CEOs of the largest banks last Thursday, after the emergence of a new AI model from Anthropic called Claude Mythos. The reason wasn’t hype – it was capability. This model appears able to identify deep vulnerabilities in widely used software and…
