I was intrigued by a new report from the IMF (International Monetary Fund) which states that: “if the use of fintech grows rapidly outside of the regulated sector, it can generate risks to market conduct and integrity”. Shock, horror! And so? “New fintech developments might quickly become systemic due to network effects (for example, when…
This week’s main blog discussions include … Can you answer these four questions? It made me laugh. Someone posed the question: what is the hiring process for fintech? After a short thought, my reply was to ask the candidate four questions: What do you think about banks? Define Python for me. Why did Schrodinger have…
It made me laugh. Someone posed the question: what is the hiring process for fintech? After a short thought, my reply was to ask the candidate four questions: What do you think about banks? Define Python for me. Why did Schrodinger have a cat? Pork bellies or Orange juice? They are probably too cryptic for…
I just got a copy of Gartner’s emerging risks report for the second quarter 2023. A summary of the report is below but, before you read that, the charts speak volumes. First, we talk about PEST – Political, Economic, Social, Technological – forces for change. Right now, unsurprisingly, most change forces are based upon economic…
When Open Banking launched in the UK, it got a drubbing from the media (I blogged about it). The issue is that the media and banks believe that sharing your financial data will compromise your security. That attitude still persists today, which is why Open Banking hasn’t really taken off. By way of example, five years…
Every day I am finding security on my banking transactions more and more annoying. The reason? I have to confirm via a secondary approval the transaction; I then have to confirm the secondary approval with the vendor with a further secondary approval with the financial provider; I then have to process a further approval through…
There are several regular discussions in finance that come and go on a perennial basis. The idea that everything will become cashless and branchless is one of the main ones, but is that real? It seems to be if you believe what you read but, under the hood, there are some interesting developments. For example,…
The main blog discussions this week include … A new Payment Services Directive, PSD3: what’s in it? In June, the EU put forward proposals for a new Payment Services Directive, PSD3. Having been involved in these developments since their inception in the 2000s, I was intrigued to read the text of PSD3, particularly as the…
I’ve said for years that the mobile network revolution includes everyone. Anyone who can find a friend with a mobile telephone can talk, trade and transact. Many have mocked my message, but the message is consistent: technology has transformed our planet. This is evidenced by that there are almost four billion more mobile connections than people…
KPMG’s recent Global Analysis of FinTech Funding Report shows a mixed landscape for fintech funding in H1 of 2023. The Americas, Asia Pacific (ASPAC), and Europe, Middle East, and Africa (EMEA) saw different rsults when it came to investments in venture capital and private equity funding. The key takeaways from the report for H1’23 included…
