Innovation

The good thing about blogging is that I have a public record of my thinking. Hence, I can claim that Banking-as-a-Service (BaaS) is mine. That’s because I was presenting the idea ten years ago and blogged about it in February 2009. Now, no idea is unique, and the BaaS idea …

I’ve got caught in a few discussions recently with people who tell me Ant Financial are Chinese. They’re not. Neither is Alibaba and, if you think they’re just Chinese, you’re going to miss a huge change in the next decade. Ant Financial is an open marketplace of apps, APIs and …

For those who know me they know that I travel a lot and, in those travels, it is fairly obvious that the world is not homogenous. Whilst the Chinese leapfrog the West and move to mobile banking, Europeans are seeing a surge of new banks trying to challenge the old, …

I was asked at a conference the other day: “so what do you think about a banks’ Innovation Department?” The question threw me a little, so I asked what they meant. “Well, do you think banks should have an Innovation Division?” I replied that divisions divide, and that innovation should …

For some years, I’ve been heavily involved in high frequency trading and quantitative trading, areas that are highly automated and pretty complex. I don’t blog about it much here, as it’s not appealing to the everyday person. It involves too much dialogue explaining acronyms used in investment markets and acronyms …

I’ve been tempted for some time to write a book about how sex is at the heart of commerce, innovation and money. I’ve alluded to it a few times, and particularly noted that the right honourable Jeremy Clarkson sometimes says something intelligent. “Money and rumpy-pumpy (sex) are the twin engines …

I just got a report from J Walter Thompson on the future of money and there’s some interesting facts and stats. Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials …

Another conversation about Open Banking, and an interesting point was raised by one bank. They said that they had been mapping financial moments – getting married, buying a house, having a baby, crashing your car, etc – and had started to reimagine the whole customer experience in those moments using …

Over the weekend, I received a couple of interesting emails about things happening in Asia. The first is a translation of an announcement from the People’s Daily, the most official newspaper of the Chinese Communist Party, discussing digital currencies. The article is fairly high level and makes no commitment to …

I don’t often blog about investment banking as it bores my readers who are cool and trendy retail bankers and geeks, mainly, but keep coming back to this article about JPMorgan’s Best Execution AI engine, LOXM. LOXM’s job is to execute client orders with maximum speed at the best price, …

I am struck every day by the disparity in financial structures I see worldwide. Recently, I’ve visited Tunisia, Egypt, Sudan and Ethiopia for example, and am bemused how none of these countries has a strong mobile wallet operator. Instead, the nations seem to be 100% cash-focused, as my credit cards …

I hosted a dinner focused upon Open Banking recently and what it means to FinTech firms and start-ups. There were no bankers at the table, but a lot of firms who consult, provide systems or are deploying new businesses in FinTech at the table. The general consensus around the table …

I was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much. I know that systems like Erica, short for Bank of AmErica, are up and running …

I was super impressed by an article written by FinTech friend Bradley Leimer for International Banker the other day, and asked if I could share on the blog. Bradley kindly said yes, so here you are. Enjoy the read! The Invisible Hand of Financial Services by Bradley Leimer, Managing Director and Head …

There’s a lot of discussion about FinTech and what it means to banks. Originally, everyone was talking about disruption, disintermediation and dissing banks. Then the discussion went to incumbents versus start-ups. Then it ended up last year about partnering and co-creation. I personally believe most of the discussion is off-beam …