thefinanser

Are Challenger Banks Challenging?

I keep seeing headlines about Amazon opening a bank, challenger banks pulling the crown off the incumbent banks heads, the end of old banks, the disruption of the system and the end of all traditional financial services.

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The Digital Divide: Inclusion Must Not Create Exclusion

I have one slight concern as we go cashless, having experienced it myself. You cannot go cashless if it does not include everyone. I had this experience in China. Arriving on a Sunday lunchtime at the Holiday Inn Express hotel, I successfully checked in and had a nice room with an empty fridge.

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What Is Digital Transformation?

We talk about platform companies, and many use the famous TechCrunch quote to illustrate this: Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory.

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If You Think It’s Evolution and Not Revolution, Think Again

Another regular argument I’m having is whether digital is a revolution or evolution. I firmly believe it is revolutionary. When industries are being rebuilt from the ground-up with new technologies and new business models, then it is a revolution.

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Are Banks Serious About Fintech?

I’m often asked how I got into FinTech. It’s an interesting question as I’ve been involved in Finance and Technology all of my life. Back in the day, it wasn’t called FinTech. It wasn’t cool. It was just boring old tech in banking. Interestingly, for almost a quarter century, tech in banking was all about […]

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How Lehmans Collapse Started the FinTech Fire

It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the system (almost 100 billion since 2010).

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A Third of Banks Expect to Hold Cryptocurrencies on Their Balance Sheets

I received a really interesting report from the law firm DLA Piper last week. The report is focused upon how blockchain is changing the financial services markets around the world, with the aim of establishing the position of major financial institutions with regards to cryptocurrencies and the use of blockchain in their daily operations.

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We Need to Launch a Digital Bank? OK, Here’s $3 Billion!

I recently blogged about JP Morgan Chase spending 10 billion a year on technology of which 3 billion goes into new projects. There were then several other announcements that caught my attention about Citibank and Bank of America investing similar amounts in digital.

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This Bridge Collapse Is a Shocking Image of Legacy

I wasn’t going to post this blog but the more it sits in my head, the more I felt I had to write it. Like everyone I expect, I was really shocked by the Genoa Morandi bridge collapse that killed 43 people this month. The idea of driving happily along a major road and then […]

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Will QR Codes Wipe Out Cash and Cards?

There’s been an interesting but hidden trend taking place. It started in China with Tencent and Alipay and has now gone global. The phenomenon is called QR codes.

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Changing the Bank Means Changing the Customer

I was having a debate about innovation with a friend. They said that most of what banks were calling innovation is actually business optimisation or, as I call it, incremental improvements. Incremental improvements are doing existing processes cheaper and faster, more effectively and more efficiently, with change.

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How AI Will Change Banking

The World Economic Forum has been conducting research over the last year around how AI (Artificial Intelligence) will change banking that was published last week. Here’s the lowdown: Artificial intelligence is fundamentally changing the physics of financial services.

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