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Frictionless Finance with FinTech

Larry Summers, former director of the National Economic Council for President Barack Obama, writes a regular column in The Financial Times.  His latest piece is his take on FinTech, which has the main headline that FinTech is taking away frictions in finance.  Yep.  The frictions are illustrated by things like interchange fees, the length of time…

FinTech Unicorns: what’s the real number?

There are different views of what constitutes a FinTech Unicorn.  For example, Techcrunch lists just 20 (+1) FinTech Unicorns today: ANT Financial                         $60B (Feb 2017) Lufax                                    …

Digital is in our DNA

When you have your basic needs covered – food and shelter – what do you need then?  According to Maslow’s hierarchy of needs, it’s our psychological needs – love, belonging, self-esteem. This is exactly where digital plays into our hearts.  Our love and belonging is in Facebook and Baidu, which is why these are so…

Sweden going cashless

For as long as I can remember, I’ve been hearing about a War on Cash.  The war, as illustrated by India’s recent demonetization, is not on cash itself but on the illegal use of cash and, by association, the fraudulent creation of cash.  Both fraudulent notes and coins along with large cash denominated amounts transferring…

GulfTech is a challenge due to diversity

I took part in a webinar the other day, focused upon the developments in digital banking in the Middle East.  Having visited Abu Dhabi, Bahrain, Dubai and Qatar recently, I can claim to know a little.  Equally, having been to the region regularly since 2002, I’ve seen how it is developing and changing.  This is…

Western Union: is the future bright or dark?

I recently was hauled up over saying that Western Union (WU) was being disrupted by FinTech.  The words that a reader took issue with are: The high fees of Western Union and other remittance providers were fairly punishing … until FinTech came along Western Union is being disrupted, to an extent, but this person was…

Russians launder billions through British banks (who cares?)

I blogged recently that there is around $1.6 trillion of money laundering globally and less than 2% is caught by the financial system.  That’s a stunning amount and makes you wonder why our system is so awful.  Much of it is down to the fact that account openings depend upon physical documentation and human checks. …

The European banking system is flat-lining

There was an interesting article in The Independent last week about the big banks becoming bigger since the financial crisis hit.  The article notes that the big American banks control 70% of all US assets, and that this figure has increased 40% since 2008. In the lead up to 2008, parallel to increasing debt levels,…

Branches more important than apps?

Building on my challenger bank discussions, there’s some interesting points coming out of a new report by Price Waterhouse Coopers (or Playing the Wrong Cards as they’re now called, after the Oscars) on challenger banking.  It’s well worth a read, especially as they found that having branches is more important than mobile apps.  The survey showed…

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Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

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Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

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