Banks are not dying
I was having a nice relaxing Sunday, when alerted to a tweetfest taking place between industry heavyweights Simon Taylor (an ex-banker) and Mariano Belinky (a banker). It all started with: Fintech didn’t disrupt banks but banks are slowly dying. Creating an ever growing opportunity for #fintech — Simon Taylor (@sytaylor) September 18, 2016 @sytaylor low…
An overdraft … is that someone who checks your first draft?
I got into a conference this week (for a change) where the presenter of a roboadvising wealth manager got into a bit of a Q&A scuffle with an audience member. Felix Niederer, founder and CEO of Zurich-based start-up True Wealth showed the stats for their customers. Most of them are over 30, and the real…
The Banking Bazaar and the Bizarre Banker
I’ve spent a lot of this week talking about marketplaces. We have a growing number of financial marketplaces appearing. Lending marketplaces, credit marketplaces, payments marketplaces and more. A marketplace is the bazaar. Market stall holders gather to meet with prospective clients, and the digital version of the marketplace is the focal point for many FinTech…
Bankers should not be retailers [Wells Fargo]
5,300 Wells Fargo employees have been caught faking customer account openings in order to hit their sales targets. That sounds pretty disgusting doesn’t it, but it’s nothing new. In fact, we here in old America or, as some call it, Britain, have been living with this for half a decade. During the 2000s, leading up…
The future CIO is not a CIO
As mentioned last week, the CIO’s role is changing from running an empire of maintenance engineers to organising a distributed development organisation. The change in the role is one from a hierarchical control structure, where everything is proprietary and internal, to a flattened organisation that is open and broad. Much of the developments will come…
The developer-driven bank
Building on yesterday’s blog (Do bank’s need a CIO?) , the key misunderstanding is the role. Most banks thing the CIO is there to run the technology. They’re not. That’s what they used to do. That’s not the job for the future. First and foremost, the person leading technology developments in any incumbent bank of…
Intelligent Money: Our Future Is Where We Do Not Think About Money, As Our Money Thinks For Us
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