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This week’s main blog discussions include … The Lloyds Bank Turd If you’re having breakfast or eating right now, please do not read this blog entry. I really didn’t want to write this blog, but it’s too irresistible to ignore. In fact, I cannot believe I haven’t seen this before as, the other day, guess…

If you’re having breakfast or eating right now, please do not read this blog entry. I really didn’t want to write this blog, but it’s too irresistible to ignore. In fact, I cannot believe I haven’t seen this before as, the other day, guess what popped – or should I say pooped – up in…

I just did a search for papers on digital transformation and was surprised that I got a whole load of results from every single tech company out there addressing the question: “what is digital transformation?” (a question I have blogged about a lot). As someone who has been doing this his whole life, my simple…

There’s a really interesting research paper recently published by Apple’s engineers looking at how well LLMs (Large Language Models), the heart of AI systems like ChatGPT, and asking about their ability to deliver mathematical reasoning. They conclude that they are not ready for prime time right now. To illustrate the issue, TechCrunch gave this example: Let’s say…

Living in Poland, I have got used to using their local system for payments called BLIK. The way BLIK works is that you access your bank account app, enter a code, get a code back and make a payment at a point-of-sale, ATM, online or anywhere that needs a payment approved. The reason I like…

I just picked up several interesting reports. The first is McKinsey’s review of Banking 2024. The good news? “The past two years have been the best for banking since before the Great Recession. Globally, banks generated $7 trillion in revenue and $1.1 trillion in net income, with return on tangible equity (ROTE) reaching 11.7 percent. Banks…

This week’s main blog discussions include … Is 2025 Meta’s nemesis year? Thinking about the Big Tech firms, most of them are enabling commerce. Amazon and Apple are building specific structures to make buying and selling easy. But one company is enabling fraud, scams and criminal activities. Meta. Meta runs Facebook, Instagram and WhatsApp, as…

A year ago, a government commissioned report in the UK asked for a National Payments Vision and Strategy, or NPVS for short. Looking into this a year later, there does not seem to be much action. The report was produced by Joe Garner, founder of a start-up in the dot.com boom, a director at the…

I remember companies like Gartner and Forrester predicting that there would be a trillion dollar market in online sales by 2020 back in the 1990s. Now we are in 2024, it’s a three trillion dollar market, and so I thought it might be interesting to look at the various statistics being bandied about by firms…

Everyone keeps saying that the core of banking is trust. It’s not ROI, ROE, CI or other acronyms. It’s trust. But what is trust, and how is it created and maintained? That’s a core of where we should focus. In banking, trust is not in the brand or the name; it is in the belief…