I write so much that I sometimes forget what I’ve written, where. For example, Mark Sievert of Silicon Valley Bank made an interesting comment on my predictions for 2017: Happy New Year Chris! One topic I am not hearing much about is the OCC December decision to offer Federal Charters to Fintech firms. http://bit.ly/OCCFintech. Many…
We had a meeting of the Financial Services Club in Oslo last night, talking about the Payment Services Directive 2 (PSD2) and Open APIs (Application Program Interfaces). It was a fun meeting and covered the in’s and out’s of closed versus open APIs, the implications of allowing Trusted Third Parties (TTPs) access to the bank’s…
Following on from yesterday’s blog about Little Britain and a hard Brexit, we all know the world has been globalising and, even though there is currently a backlash against globalisation per se, it is unstoppable. It is unstoppable primarily because of technology. The whole planet is now on the network. Seven billion people have access…
Had a really interesting chat about RegTech the other day. We were debating how regulators have changed in recent times, not just in encouraging start-ups and innovation, but it looking forward rather than backward. For most of the time that I’ve dealt with financial services, regulators have always been in catch-up mode. They regulate what…
During recent months, I’ve enjoyed a real ding-dong of conversations between Europeans, Asians, Americans and Brits about FinTech and, to be more specific, RegTech. RegTech is a couple of years in catch-up with FinTech, and is all about how to use technologies to make regulations more efficient and effective. The claim is that the UK…
5,300 Wells Fargo employees have been caught faking customer account openings in order to hit their sales targets. That sounds pretty disgusting doesn’t it, but it’s nothing new. In fact, we here in old America or, as some call it, Britain, have been living with this for half a decade. During the 2000s, leading up…
On Tuesday the Competition and Markets Authority (CMA), a UK Government Agency, told British banks that they must digitalise or suffer penalties. In a report entitled Making banks work harder for you, they have ordered the UK banks to digitalise within two years or face regulatory fines. The key headlines include, under what the CMA…
Here are our key posts for the past week … Need some #FinTech Education? I recently hosted the FinTech University – FU for short – for BBVA in Madrid. #FU @CIBBVA pic.twitter.com/RUqVEDgPgg — Chris Skinner (@Chris_Skinner) June 20, 2016 It was a grand day out full of BBVA companies and partners including Simple, Holvi, Atom, Eris,…
I’ve had a few meetings with folks at the White House over the past eighteen months, which has been an honour and not something I felt I should blog about. The National Economic Council woke up to the FinTech world early last year and have been consulting with many in the FinTech ecosystem. The latest…
I received a very thoughtful response to last week’s blog (about Dodd-Frank being the issue with the USA seeing zero neobanks starting up) from two Nahum Goldmann and David Gerbino. Nahum and I have corresponded for some time about banking matters and his email sparked various views in my mind. Here’s his view: Chris thanks, an excellent…
