Predictions about banking in the future After I posted my banks disappear post, Glenn Stanford replied to me on LinkedIn with a link to this: A history of the future of banking: predictions and outcomes by Maria Gloria Cobas and Larry R. Mote, Office of the Comptroller of the Currency and James A. Wilcox, Haas School of…
This week’s main blog discussions include … Most banks will disappear (Part One) Five years ago, Gartner published a report stating that 80 percent of financial institutions would disappear by 2030. Most banks will be made irrelevant by 2030 – Gartner Within 12 years’ time, 80% of financial firms will either go out of business…
This week’s FinTech Uncut! covered a lot of ground and you can watch it here and now! This week’s episode was a bit Bugs Bunny, with highlights talking about Klarna posting its biggest loss to date, Western Union announcing a twist to BNPL and Visa eyeing up FIS. Meanwhile, Quizmaster Rik continues his singing streak. What in…
Yesterday, I stated that most banks will not disappear. Today, I’m in the other side of the ring and saying that most banks will disappear. They won’t disappear as banks. They will just disappear as something we think about. Banking will become invisible. The industry likes to talk about embedded banking, a term that is…
Five years ago, Gartner published a report stating that 80 percent of financial institutions would disappear by 2030. Most banks will be made irrelevant by 2030 – Gartner Within 12 years’ time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in…
I love it when there’s a case study about animal behaviours. Bearing in mind that apes are our closest relations, when scientists try experiments to see how they behave towards money, it is fascinating. This is something I’ve blogged about many times before, with a favourite example being the Capuchin monkeys who discovered that they…
I just had a new dawning, but maybe not. The realisation was that the decentralisation of everything – finance, money, government, service, chat – is all down to technology. Centralisation of everything is all down to physicality. It’s like the dichotomy between the State, which is analogue, and Society, which is now digital. This is…
Over the years, I’ve learned a lot about money. I’ve learned about its creation, usage and operation. I’ve learned that it wasn’t invented to replace bartering. I’ve learned a lot. Here’s a few facts about money … The Barter Economy was a myth We believe that money replaced bartering with each other, but that’s just…
This week’s blog discussions included … What has the government ever done for us? It made me smile when watching Billions during an exchange between Chuck Rhoades (the Attorney General) and a bitcoin miner in Episode 1 of Series 5 (nerdy). Bitcoin miner: “What’s the dollar backed by, since we went off the gold standard?”…
Zelle might be big (in America at least) but could our Quizmaster Rik become an even bigger sensation as his singing streak continues with Japanese Whiskey lubricated lungs? We also got a brief lesson on how to assess the future success of any new technology from The Other Guy and The Wise Guy shared his…
