McKinsey estimate that payment processing will generate $2.6 trillion a year in fees by 2025, which raises this stream to 40% of a banks overall revenues. Whoopy-doo! But why are they forecasting banks have these revenues? I searched the article, and maybe my search missed something, but I didn’t see FinTech mentioned once, and yet FinTech…
Four years ago, I was using this slide in my presentations. As I blogged at the time: “Those who recognise that banks are doing 1000 things average, will naturally come together to do 1000 things brilliantly.” The idea was that FinTech start-ups would start to align with each other to create global platforms. The first…
There was a good report the other day from Wells Fargo. The headlines: Banks spend $200 billion a year on technology, more than any other industry 100,000 banking jobs will disappear through automation in the next five years Most will be the low-paid roles in the bank that provide administration services 1 in 5 workers…
This headline struck me: Barclays Bank branch to shut as only 15 people use it regularly Reading the report, Barclays spokesperson is quoted as saying that “85% of customers at the branch are using alternative ways in which to undertake their banking, including via the telephone, online and mobile app” and that, “in total, [only]…
This week’s main blog discussions include … Do you see the point of “Squid Game”? Like most people, I’ve watched and enjoyed Squid Game on Netflix (the original language version with subtitles, avoid the dubbed version), but did you get the point? I’ll avoid giving away too much, in case you still haven’t watched it,…
I have a number of big yawns when I watch the news these days. Banks are doomed!!! Yawn. Central banks are replacing money with digital money!!! Yawn. Buy bitcoin now and make millions!!! Yawn. COVID, vaccines, anti-vaxers!!! Yawn. The Earth is heating!!! Yawn. The climate is in an emergency!!! Yawn. The world will end!!! Yawn….
Green finance covers a wide range of financial products and services, which can be broadly divided into banking, investment and insurance products. Examples of these include green bonds, green-tagged loans, green investment funds and climate risk insurance. However, a friend of mine mentioned moving into a focus on spatial finance the other day. Spatial finance?…
We talk a lot about neobanks and challenger banks, but how are they doing in reality? Well, they seem to be doing pretty well. By way of example N26, the Germany-based bank start-up, is now the second most valuable bank in Germany behind Deutsche Bank. It’s worth more than Commerzbank. Not bad for an eight-year-old…
Like most people, I’ve watched and enjoyed Squid Game on Netflix (the original language version with subtitles, avoid the dubbed version), but did you get the point? I’ll avoid giving away too much, in case you still haven’t watched it, but what’s the point of Squid Game? Well, it’s the same point as many other movies…
CB Insights just released their FinTech 250 for 2021: These are the top FinTech firms in the world, in their view. The companies were selected by CB Insights’ Intelligence Unit from a pool of over 17,000 companies and, at last look, I’m tracking over 25,000 FinTech start-ups worldwide who garnered just under $100 billion of…
