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Wonga: another web disruption for loans

During the week, I enjoyed lunch with a venture capitalist who works with start-up firms that are innovating in financial services. One of the businesses he’s investing in is Wonga, another business that appears to be disrupting banks' business models in the same way as Zopa has been. I’d never heard of Wonga before, except…

Wonga: another web disruption for loans

During the week, I enjoyed lunch with a venture capitalist who works with start-up firms that are innovating in financial services. One of the businesses he’s investing in is Wonga, another business that appears to be disrupting banks' business models in the same way as Zopa has been. I’d never heard of Wonga before, except…

Wonga: another web disruption for loans

During the week, I enjoyed lunch with a venture capitalist who works with start-up firms that are innovating in financial services. One of the businesses he’s investing in is Wonga, another business that appears to be disrupting banks' business models in the same way as Zopa has been. I’d never heard of Wonga before, except…

Card Awards: and the losers are …

From the Financial Times today: Card charges rise in spite of low rates "Credit card providers have continued to raise charges in spite of historically low interest rates … "In the past year the cost of borrowing money on plastic has risen from 16.8 to 17.7 per cent. "Over the same period the prevalence of…

The Card Awards: and the winners are …

I was at the Card Awards last night and a grand and lavish affair it was, with over 1,000 people noshing through a 3-course fine dinner (although it was held in a tent in Battersea Park!). It was the usual dickey bows and taffeta dresses affair presented by the very engaging John Humphreys, host of…

$9 million in 30 minutes in a Global ATM scam

Following hot on the heels of the Heartland Payments Systems data breach, which compromised nearly every payment card in America, news broke yesterday on New York's Fox 5 that RBS WorldPay not only had the data hacked for around 1.5 million payroll and gift cards back on December 23rd, but also that the mag stripe…

$9 million in 30 minutes in a Global ATM scam

Following hot on the heels of the Heartland Payments Systems data breach, which compromised nearly every payment card in America, news broke yesterday on New York's Fox 5 that RBS WorldPay not only had the data hacked for around 1.5 million payroll and gift cards back on December 23rd, but also that the mag stripe…

BaaS: Banking as a Service

Two weeks ago, I posted two items about why Banking will be free (Part One and Part Two), and this is Part Three in that series.  Banking as a Service (BaaS) is the new version of Banking using the Software as a Service (SaaS) business model.  You’re probably all familiar with SaaS – it’s basically…

BaaS: Banking as a Service

Two weeks ago, I posted two items about why Banking will be free (Part One and Part Two), and this is Part Three in that series. Banking as a Service (BaaS) is the new version of Banking using the Software as a Service (SaaS) business model. You’re probably all familiar with SaaS – it’s basically…

Jamie Dimon: a CCP for OTC is Bad

Speaking of Jamie Dimon’s appearance at Davos, he called upon a rethink of the Central Clearing System for OTC Derivatives that everyone wants to see in play. The clearing and settlement area is the plumbing of financial service, where all risks of sellers or buyers defaulting are managed by the clearer acting as the buyer…

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