Chris Skinner's blog

Shaping the future of finance

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Is it true that challenger banks no longer challenge?

In the 1990s, I got very excited about a number of challenger banks. Sainsburys, Tesco and Virgin all launched new banks in the UK, and there were several others worldwide such as the (David) Bowie Bank and the G&L (Gay and Lesbian) Bank. Where are they now? Nowhere. Sainsbury bank is up for sale, Tesco…

Introducing the Dimonsaur

For the past decade, Jamie Dimon has regularly been decrying bitcoin as a scam. Here’s a few of his quotes: Jamie Dimon tells Davos that Bitcoin is a ‘pet rock’ that does nothing—except help with fraud and money laundering Jamie Dimon lashes out against crypto: ‘If I was the government, I’d close it down’ JPMorgan…

Are fintech firms friends or foes?

I just received an interesting report released in January by ClearBank and Celent, looking at how electronic money and electronic payment institutions (EMIs and EPIs) work with banks and the financial ecosystem. The findings indicate that these start-up companies fill the gaps where incumbent banks feared to tread, such as offering crypto clearing services. John…

The Willy Wonka World of AI

Is AI a good or bad thing? As I write my daily blog, I’ve realised that it seems to ask a question almost every single day. By way of example, just checkout my blog index and read the titles of the entries. A few recent examples: Is technology making our lives better or worse? Is…

Why is Coca-Cola important?

It’s a little known fact that Coca-Cola was launched as a way to relieve the anxiety of change, but it’s true. Coca-Cola’s unique formula was developed to replace the addiction of Victorians to morphine and opium. The question is: why were Victorians addicted to morphine and opium? The answer is: the pace of change. Victorians…

Have we created Generative Finance yet?

Question: Have we created Generative Finance yet? Answer: No. Everyone has been talking about Generative AI for the past year or so, particularly after ChatGPT and OpenAI hit the market … and yet a lot finance is still really dumb. Where is the intelligence in finance? And, when we do get AI integrated with finance,…

Is Crypto Snake Oil or Gold?

There are many who compare bitcoin to digital gold, and there are many others who claim that bitcoin is just snake oil selling and a waste of time. Who is right and who is wrong? I guess the first thing is to define snake oil. Snake oil is a term used to describe a scam….

Regulating intelligence

There are many questions about how we can regulate artificial intelligence, and these grow every day. With deep fake voices and faces, anybody could be convinced to give away their money, bank details or more. How do you regulate AI? To illustrate a basic form of AI, I asked Deepmind to create a video about…

3 out of 5 frauds come from Meta

Appearing in a Parliamentary session the other day, Woody Malouf, Revolut’s head of financial crime, said Meta platforms were “being used as a hotbed for scams” and estimated that 3 out of 5 scams are being generated by Facebook, Instagram and WhatsApp I’ve no idea about your experience but my experience is that anything I…

Intelligent Money: Our Future Is Where We Do Not Think About Money, As Our Money Thinks For Us

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