New banks have great opportunities. They can fix all the things old banks do badly, using a clean sheet of paper. But sometimes they get it wrong. For example, many are fans of Monzo, one of the fastest growing UK challenger banks. I’m a fan, but have noticed one issue that keeps getting social media…
I had an interesting comment the other day from a friend who said that he had worked with incumbents and start-ups. The big difference is that the incumbent views digital as a cost-cutting exercise, whilst the start-up sees it as a customer-enhancing opportunity. It rang a bell with me. Having spent so long dealing with…
I just spotted a spoof story on The Onion which, if you’re not aware, is a humour website of news stories. Their latest one: Study Finds Processing Power Wasted Mining Bitcoin Only Thing Preventing Sentient Computers From Wiping Out Humanity It made me laugh but, at the same time, made me think. Is bitcoin that…
I stumbled across an interesting white paper from Citi the other day saying that the metaverse is an $8 to $13 TRILLION opportunity: “The total addressable market for the Metaverse could be between $8 trillion and $13 trillion by 2030, with total Metaverse users numbering around five billion. But getting to that market level is…
I was reminded the other day of a quote by Ronald Reagan: “If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” He said this in the 1980s about the government’s view of the economy, but let’s apply it to cryptocurrencies. Initially irrelevant but now mainstream, many…
I’ve been looking at where we are in 2022, compared with 2012. In 2012, everyone was talking about FinTech disrupting and destroying the dinosaur banks; in 2022, banks are buying FinTechs and even launching their own start-up FinTechs Things have changed. I blogged a while ago about the phases of FinTech we’re going through, and can…
Back in 2015, I interviewed Nikolas Adalberth, a co-founder of Swedish FinTech unicorn Klarna. Little did I know back then that they would be of the biggest stars of FinTech and the creators of BNPL, the Buy Now Pay Later, revolution Is it a revolution? Not really. It’s just another form of credit, but people like…
If you didn’t read my blog last week asking whether the pandemic had transformed banking to be digital forever (answer: no), what is obvious is that the pandemic has changed consumer behaviours forever. This was brought home to me when reading the Forbes-Ipsos survey of American consumers views of digital banking. The survey took place in…
