For many years, I’ve been using Michael Treacy’s The Discipline of Market Leaders to talk about the business model of banking. The book claims that all companies are comprised of three major components: a manufacturer, a processor and a retailer. The book claims that most companies are only good at one of these things, and few…
I’m being asked this a lot as the value of bitcoin and other cryptocurrencies have increased ten-fold in the past few weeks. Good for those who have some. Bemusing for those who don’t. There are a range of factors driving the rise in cryptocurrency prices, particularly the craze for Initial Coin Offering (ICOs). An ICO…
I often think we need a reality check when it comes to digital finance. Many of the pundit analysts and influencers out there believe no one needs a branch visit and that everything can be done remotely on devices. I don’t. I’ve mentioned this many times and, psychologically, customers need the reassurance that they can…
I recently met a start-up bank. They were depressed. Having submitted their third proposal for the bank, the regulator was still pushing back. This felt familiar. Having seen so many new start-up banks in Britain, I was familiar with the start-up process. It involves hellishly detailed documentation showing effective plans, governance and funding. The first…
Things we’re reading today include … Is your money safe? Why are analysts so bullish on Lloyds Banking Group plc? Australia to hold new inquiry into ‘Big Four’ banks Goldman Sachs wins largest concessions on Volcker rule Upstart challenger banks eye consolidation Debit card control lets you ‘turn off’ card to beat scams Rich List…
Things we’re reading today include … Trump is considering new Glass-Steagall-style bank rules Former Wells Fargo CEO says breaking up big banks would be a mistake JPMorgan’s Dimon says biggest fear is bad public policy Infosys plans to hire 10,000 U.S. workers after Trump targets outsourcing firms RBS lawsuit set to draw Fred Goodwin into…
I was recently asked a set of questions by .BANK and duly answered. The interview is now online so I thought I would share it here … .BANK: In your book, The Future of Banking in a Globalised World, you explore the impact of regulatory change on the banking industry. With the move to less regulation…
I blogged recently about American banks beating up the regulators to stop account access via APIs. I heard this in various White House meetings in 2016, and assumed all banks and bank people felt the same way. Well, they don’t. Citi’s head of FinTech Policy, Andres Wolberg-Stok, got in touch to clarify the true situation….
