The branch discussion is a perennial favourite I know, but there’s one thing that is rarely discussed by the ‘no branch’ proponents: culture, demographics, psychographics and geographics. It’s like they say: “there will be no branches in the future, make it so”. I guess that’s because the anti-branch community are (a) over 35, (b) digital…
I've been involved in Brett King's new venture, Moven, since its inception and was pleased to see the new renovated version won Best in Show at Finovate yesterday in San Jose. In a key announcement, Moven has partnered with Accenture to roll out their capabilities worldwide and, in what many are referring to as Bank…
There are a number of debates that pop-up regularly including the war on cash, the end of the branch and the death of banking. The last one I haven’t blogged about much because it’s irrelevant, but I’ll blog about it today as there are two camps of thought: incumbents and new entrants; and today’s blog…
So I’m talking with a group of corporate bankers and the conversation goes into the normal alleyway. This alleyway is the one that says: “we are corporate bankers and will not be disrupted”. The conversation goes something like: So all the hot and sexy stuff with Fintech is in the consumer space. It’s retail and…
I had a good chat about the mobile financial ecosystem today. Maybe a good example of that ecosystem is represented below: What this portrays is that it’s complicated. There’s a lot of players doing a lot of things and the bank has to herd cats to make it work. What’s interesting though is that this…
So Facebook announced clarification of plans to rollout Facebook Pay, an easy way to pay friends through Facebook using your debit card. They had considered credit cards, but want to avoid fraud and risk and felt the debit card is the way to go. Initially US-based, the service will gradually be released worldwide. Here are…
Yesterday the UK’s Financial Inclusion Commission published their report on Financial Inclusion for the UK. The Financial Inclusion Commission is an independent body of experts and parliamentarians who came together to put financial inclusion back on the political agenda ahead of the 2015 General Election. The Commission set out to: take stock of the extent of…
I was surprised to see friend of the Financial Services Club Carole Berndt leave Royal Bank of Scotland (RBS) for Australian shores in January (actually Hong Kong with ANZ). Even though she’s an Aussie, the surprise was that Carole had only moved to RBS to shake up their Global Transaction Services (GTS) business the year before,…
After blogging about how hot Fintech is, I stumbled across this article by Avinash Swamy (HT to Bradley Leimer), and asked Avinash if I could place this on the blog as it shows the other side of the coin about how banks are reacting to Fintech threats and opportunities. Avinash kindly agreed, so read on …….
