Is AI the biggest risk today?
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…
Is Open Banking all it’s cracked up to be?
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…
What if your money is inside your brain?
Building on yesterday’s idea of the future world, where our brains are connected 24*7 in real-time to the network, what would that mean for financial services? Well, I’ve blogged about this a few times already: Invisible banking is the place to be Nobody wants embedded finance Specifically, if we think of money as part of…
How should banks identify bad actors?
As the Nigel Farage affair rolls on, with resignations and regulations flowing fast, I was struck by one comment in The Financial Times, where a financial analyst said that these changes could prove challenging. “How does it work if a bank is being told ‘we’ll rip your arms if you process money for the wrong people’,…
What was the point of #Brexit?
Seven years after the vote and Britain still feels European whilst not being in European Union. What’s the point of that? In particular, there’s a fair dilemma about regulations in banking in Britain. Should they stay aligned with the EU or go their own way? I guess the more telling question is: what was the…
Should a bank close a customer’s account because they disagree with their views?
From The Times: ‘Until last summer, Nigel Farage had dealt with the same relationship manager at Coutts for years. Then Mark Pierce left for the rival private bank Arbuthnot Latham, and responsibility for the outspoken Brexiteer’s accounts passed to a Coutts executive named Min Fung. The former Ukip leader’s first conversation with Fung was also his…
The alleged way that Norway is breaking sanctions against Russia
I attended a fascinating lunch the other day. The audience comprised a number of senior folks and founders from companies covering all industries and many geographies. After we all introduced ourselves there was then a discussion, under Chatham House Rule*, that ranged from the frictions between the USA and China, China and Taiwan, the Ukraine…
Intelligent Money: Our Future Is Where We Do Not Think About Money, As Our Money Thinks For Us
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