Chris Skinner's blog

Shaping the future of finance

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If only Europe was Chinese

I’m in Moscow today at a forum on cards and payments. The morning was quite interesting and challenging as there is dual language – English and Russian – but translation services never quite translate correctly. For example, as I told my favourite story about turning bankers into zombies, I got the feeling it wasn’t being…

Does anyone have a P&L for payments?

So the week ends with another wide ranging conversation about new business models and new ways of banking, although I still have one question that no-one seems to be able to answer: how much profit does a bank make from payments, and how has that changed over the last twenty years? This question came up…

2007 McKinsey

Things worth reading: 20th May 2011

Things we're reading today include … MasterCard Study: Youngsters Will Be The Catalyst Of Mobile Payment Adoption - Techcrunch Banks in central Europe: A three-horse race - The Economist Bank shares fall on Prudential Regulation Authority's plan - The Telegraph Hector Sants and Andrew Bailey: the men at the helm of the Prudential Regulation Authority - The Telegraph Google Advisor Wants To Be…

Why Facebook will not become a bank

Everyone's talking about Facebook becoming a bank in the future, but I don't believe it will happen.   Here's why … Just had a long discussion with a bunch of banks about potential disruptions to banking based upon mobile carriers upscaling and innovating, the launch of NFC payments via Android and iPhone, the possibilities of Google…

Will the European fiscal crisis force Eurozone Political Union in 2011?

The next meeting of The Financial Services Club, London, is on Monday 23rd May with leading commentator Graham Bishop discussing whether the EU Fiscal Crisis will force Eurozone Political Union in 2011? As all of us know, the end of the euro would be the end of Europe and only tough collective action from Eurozone…

Government to give us a grand

Since the Royal Wedding, there's not been much good news in banking but today is a positive day. What could be positive about banks and banking? The fact that there is a growing recognition that not all is foul in the pond of finance. For example, there is the great news today that the government…

The Future of Retail Payments

So last week I felt honoured to be invited by the European Central Bank (ECB) to present at their conference on the future of retail payments. An audience of the great and the good turned up, and I was the last presenter of five panellists at the last session of the last day. Obviously, this…

ECB Skinner

Will mobile carriers really leave the business of banking to banks?

I find it funny to think about the lengthy discussions of mobile that takes place these days at all the banking and payments conferences I go to. The banks talk about a mobile payments ecosystem and how they have to work closely with carriers, handset manufacturers, retailers, merchants and more to achieve share of this…

M-PESA

How the new bank will win

In the last of my explorations of building a new bank, here's why the new bank will win. One of the biggest things that constrains existing banks is their past. They were created over a century ago to manage retail transactions in branches over the counter with human tellers and, to a large extent, this…

Creating a bank that makes money

So how are we going to make money in this brand new bank? This is the toughest question as it’s quite easy to make money in finance by focusing upon rate churn. Just offer lower interest rates on loans and credit cards and higher interest rates on savings and investments. This is the approach that…

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