There’s a regular itch that I feel in the back of my neck. I scratch it, but it won’t go away. The itch is an alarm call really, and it’s asking whether all this FinTech investment is worth it. Last year, $111.8 billion was invested in over 12,000 start-up FinTech firms worldwide, according to KPMG….
Things we’re reading today include … Digital banks seek to turn popularity into profits At a Grim Moment for Banking Jobs, Citigroup Says It’s Hiring HSBC urged to apologise after boss praised Chinese regime Kids empty their parents’ bank account trying to buy Lionel Messi on FIFA 19 Making banking boring again: the decline of…
Things we’re reading today include … What’s the point of a bank if it won’t accept cash? Piper Jaffray buys rival investment bank Sandler O’Neill for $485m Critics round on Deutsche Bank for golden parachutes Deutsche Bank bosses fitted for £1,200 suits as thousands lose their jobs Christine Lagarde’s arrival would be ideal time for…
Things we’re reading today include … Big ax falls as Deutsche Bank to lay off 18,000 in $8.3 billion ‘reinvention’ What went wrong at Deutsche Bank? Deutsche Bank shares rise as 18,000 global job cuts begin One-fifth of sole traders close down within a year – study Half of UK retail sales will be online…
Another interesting nuance of the FinTech Bank is the integration of business and technology. I’ve referenced this a few times, but wanted to be explicit that these banks think technology is business and business is technology. This is clearly demonstrated in their microservices team structures and agile thinking. Auditors, compliance, financial and marketing people sit…
I’ve been blogging about digital transformation and one commentator asked me to qualify what I actually meant by a bank ‘transforming’ versus the others. This is something I intended to blog about but Bill Streeter over at The Financial Brand beat me to it in his reporting of research by BDO, the American assurance, tax, and…
Things we’re reading today include … Cryptocurrency investors locked out of $190m after exchange founder dies Citi says prosecution delay hampers defense in Australia cartel case with ANZ, Deutsche Loose money era leaves trail of U.S. corporate debt junkies Barclays bosses pressured by Qatar to mask Gulf state PM’s holding, court told Non-bank lenders thrive…
Artificial Intelligence (AI) is moving at a pace, creating a really interesting online debate the other day about its applications. Specifically, the question was raised about self-driving cars and how they make decisions. For example, when a self-driving car crashes, who should die? This is a question explored in depth by researchers from the MIT…
I have one slight concern as we go cashless, having experienced it myself. You cannot go cashless if it does not include everyone. I had this experience in China. Arriving on a Sunday lunchtime at the Holiday Inn Express hotel, I successfully checked in and had a nice room with an empty fridge. Downstairs, being…
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Chris Skinner - Financial Markets Advisor of the Year - The Finanser - UK 2023
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