Fintech

Many financial processes were created centuries ago. When technology arrived, we automated those historical processes to make them more efficient. We didn’t necessarily focus upon how to make them more effective, as the focus was on how to reduce costs. Years later, we are paying the price. The issue is that banks automated old processes…

Building up to Christmas, I got a lot of FinTech predictions sent by PR firms and friends. Here are my top picks: One of the biggest US FinTech firms Lending Club sent me four big things they predict: Prediction #1: The fintech and bank consolidation arms race continues   2021 brought on more fintech M&A than ever…

Everyone is talking a lot about the metaverse these days. What is the metaverse? It’s a progression of how we live. My father used to read books as a kid, and the books would entertain him and come life in his head. I grew up with comics and the illustrations would give me hours of…

I was really surprised to see the announcement by Zopa this week that they were pulling out of P2P (peer-to-peer) lending. As the company that started the FinTech P2P lending and FinTech buzz imho, how could they? I was angry and annoyed, and then remembered something: Following consultation, the Financial Conduct Authority (FCA) is introducing…

I grew up with a belief that life should be simple. You get an education; you play sport; you get a job for life; you get a partner; you get married; you buy a house; you have kids; you retire; and then you die. Or something like that. These were the key life events. It’s…

A long time ago, I predicted that telecoms and retailers would acquire and buy banks and vice versa. Hasn’t happened. Will it happen? I don’t think so. After so many years, I’ve realised something. Banking is difficult and does not have the same features as other industries. This is something that the naivety of youth…

I just picked up this chart from Systems Innovation … …. and it immeditately struck me how complicated the world is. Way back when I started out as a programmer – maybe I should go back there? – and most of my programming was greenfield. But I remember having to update a system with 30,000…

One of my regular rants is that, even with all of this innovation and disruption with technology, no one has really reinvented banking and finance. The nearest we get are companies like Ant Group, PayTM, NuBank and a few others who are offering truly differentiated financial services, but the majority are just sorting out what…

I see five major groups squeezing the financial markets these days. The first one is obvious: it’s the FinTech start-up community, which is now valued as a third of all banking value. The second is clear too: it’s the Big Tech firms like Facebook and Amazon, who are launching their own currencies and putting pressure…

I was fascinated to see a lawsuit in America where a FinTech start-up (Onsa) claims a financial incumbent (Franklin Templeton) has stolen their ideas: Franklin Resources Inc. destroyed a blockchain startup to get its technology and a “short cut” into the booming fintech market, a group of investors claimed in a lawsuit. The startup, Onsa, claims…