Fintech

As you can tell, I found the White House meeting so interesting that I’m gonna bore you about it all week.  Today is the turn of how FinTech can make us live smarter, better and more informed lives.  That theme resonates as Moven’s strapline is to spend, save and live smarter (guess who came up with that…

The second White House panel discussion focused upon small business funding, an area close to my heart as it’s an area that has exploded with opportunity thanks to FinTech.  I often reflect that FinTech is not disrupting or destroying banking, but that FinTech is augmenting banking by serving markets previously unserved or underserved.  The unserved…

I got caught up in a conversation about building a new digital bank the other day, and being asked how I would organise the project.  I’m a simple guy and go back to basics, and the basics are people, process and product. People – customers and employees – are where it all starts.  Happy staff…

I get all sorts of crappy press releases from public relations managers who are eager to see me prostitute my blog for them. Rarely would I post their stuff here unless it was seriously interesting or I feel very lazy or both. You can decide which category this fits into: first direct identifies the factors…

Whilst almost 500 banks failed in the USA between 2008 and 2012, only three new banks opened. Only three new banks have opened in the United States since 2010.  Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves…

Not sure how many of you spotted the announcement last month that Goldman Sachs is launching a retail bank, but it’s been interesting to monitor such developments. First there was a raft of press reviews of the announcement: Goldman Sachs gets into retail banking Goldman Sachs Enters Retail Banking Market with GS Bank Here’s How Goldman Sachs Plans to Go After the…

During one part of my recent conference activity, I asked the banks in the audience how they organised their innovation strategies.  All of them have one, is the good news.  All of them have different nuances of how they structure for innovation however.  The most common structure appears to be to have innovation under the…

So I just attended a really interesting two day meeting that covered all things blockchain, regulations, innovation and more. I’ll blog about the bits I can in the next few days, and thought I’d start with an overview of the Financial Conduct Authority’s (FCA) Regulatory Sandbox and Project Innovate. The Regulatory Sandbox was announced at…

I caught sight of a report by Deloitte over the weekend that says the marketplace lenders like Zopa and Lending Club are no serious threat to banks.  This follows the report by Goldman Sachs a year ago, that said 20% of bank lending will move to these platforms over the next decade.  Who’s right and…

I’ve been presenting a summary of Digital Bank and ValueWeb for a few months now.  It is the story of the origins of moneykind and, as many have now heard the story, I thought it’s about time to share this on the blog. If you have half an hour free, then you can watch the presentation.  It’s been filmed…