Regulation

Over a decade ago, I curated a book about Europe’s Singe Euro Payments Area (SEPA). I was quite boring ten years ago, before FinTech made me cool. However, I still watch SEPA, the PSD regs, MiFID and more. I’m still a bit boring underneath it all. I don’t blog about it, because the audience for…

I keep wondering about the future. Governments vs Libertarians? Centralised vs decentralised? DeFi vs CBDC? My conclusion is CBDCs will win, in the financial markets. Why? Because money is critical to our lives. It’s a key. You cannot ignore it. It’s what we created to make society orderly. I discussed this a lot and in…

I got this endorsement from the one and only Alice Cooper the other day …  … it was sent by a friend to cheer me up and it surely did. A lot. Love Alice Cooper. But it made me reflect too on the message: “change the system”. Change the system. Change The System. Change…

The Bank of International Settlements (BIS) came out with another white paper last week (read the previous one on the rise of central bank digital currencies here). This one focused upon: Regulating fintech financing: digital banks and fintech platforms Interesting stuff. Here’s the executive summary: This paper explores how fintech financing is regulated. New technology-enabled…

I’m going to shut up about challenger banks soon, but noted that even the regulator is getting worried about them. After Monzo’s admittance that it may not continue as a going concern if the pandemic continues through 2021, N26 admitting that profit is not their focus, Revolut’s tripling of losses, and more issues out there,…

During my MoneyBox interview about Wirecard (see end of this blog), Paul asked me the question: how could this happen again? What’s next? And I said, we learn from our mistakes. Progress never stops. Wirecard won’t shut down FinTech. It will amend it. This means this is not the end of Banking-as-a-Service (BaaS), but an…

The main blog headlines are … Where was the digital backup to our physical structure? The coronavirus crisis has hit everyone sudden and hard. We originally thought it was a Chinese crisis and now it’s a global one. It’s shut down economies worldwide and the banking system has been asked to step in fast and…

I often talk about how banks have five times more regulation than technology firms. That stat comes from Bank of America Merrill Lynch who published this chart a while ago: This is confirmed by similar charts, such as this one from Benedict Evans, a Partner at the firm Andreessen Horowitz, who just shared his Davos…

I recently posted a whine about HSBC charging 40 percent on overdrafts: Treating Customers Unfairly The fact I wrote this about HSBC gave the impression it was they who were the target. They are, but so are any banks who treat customers unfairly and the blog was meant to be more about the fact that…