Grid

I tried to make some allowance for ANZ running a 40-year-old core system yesterday, by pointing to the fact that people are slow to change and there may well be no compelling reason to switch a legacy system. Even though I’ve tried to make the case many times: Banks with pre-internet age core systems have…

I talked about the legacy problem yesterday and, in reality, the problem isn’t just the legacy system. It’s the legacy people and legacy customer. The legacy people are the ones who sit in the organisation and resist change. They know where their cheese is and they don’t want it to move. This appears to be…

Well I couldn’t let this one go by without commenting on it.  A regular theme in the blog is get rid of old technology if it’s running core systems.  The reason is that systems designed before Mark Zuckerberg was born are surely not fit for purpose in this day and age.  Well, the CIO of…

The Bright Future The year is 2030.  Europe grows from strength to strength, after the harmonisation agreements between the German Finance Minister, the European Central Bank and the European Parliament for the clearance for Quantitative Easing and bailout funds for Italy in 2018.  This was a turning point in the Union as the clear support…

I can remember a few years ago that the UK pound was almost at the level of being valued at $2.  Two dollars to the pound.  Amazing.  I brought a lot of American stuff that year.  Yesterday, I bought something and it was $1.30 to the pound.  Shoot.  The dinner for $100 that a few…

When someone sends me something interesting, I can’t help but share it so this insight from Susan Visser came at just the right moment.  Susan and I have exchanged various ideas over the years, so here’s her view of the key Fintech trends. Summary Data is having a tremendous impact on customer experience, and through enhanced insight…

I sat through a discussion of FinTech last night.  The theme was how FinTech is changing the business model of banking and a bunch of bankers focused upon the issue.  From the dialogue, there were clearly four big buckets of change: Regulations and how they impact the incumbents and the challengers Data and the permissibility…

I’ve published a few summaries of the best of blockchain research earlier this year (February and March).  There’s been a load more since, but Brave New Coin has curated a nice summary of all those that came out in the last quarter.  As they publish my content sometimes, here is their list (click on the titles to see the reports):…

We spend much of our time berating the banks and beating them up, but it’s not always the case.  Every now and again, I like to write about the specific good that banks do.  For example, 5 of the top 10 Charitable Companies in the USA are banks: Wells Fargo (#3), Goldman Sachs (#4), JPMorgan…

Friend of the Financial Services Club and journalist with Financial News Anna Irrera has recently started producing a weekly roundup of FinTech news.  She’s kindly agreed to let me republish this summary here on The Finanser, so here goes: Once upon a time it was all blockchain!blockchain!blockchain!…Now it’s all brexit!brexit!brexit!  Fintech lobby wants Brexit roadmap for innovators…