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…
Whilst almost 500 banks failed in the USA between 2008 and 2012, only three new banks opened. Only three new banks have opened in the United States since 2010. Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves…
So I just attended a really interesting two day meeting that covered all things blockchain, regulations, innovation and more. I’ll blog about the bits I can in the next few days, and thought I’d start with an overview of the Financial Conduct Authority’s (FCA) Regulatory Sandbox and Project Innovate. The Regulatory Sandbox was announced at…
I’ve been presenting a summary of Digital Bank and ValueWeb for a few months now. It is the story of the origins of moneykind and, as many have now heard the story, I thought it’s about time to share this on the blog. If you have half an hour free, then you can watch the presentation. It’s been filmed…
I had a lovely conversation with a group of investment bankers last night about technology transformation in capital markets. During the opening, a consistent theme cropped up: standards, interoperability, collaboration and cooperation … or lack of it. It is interesting that, in the buy and sell side world, few standards have worked except for FIX…
