Chris Skinner

Why Chinese TechFin is the exception and not the rule

Chris Skinner

I picked up an interesting article from Reuters, about how Asian technology firms are moving into banking in a different way to Europe or America.

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Are these $1 billion start-ups Unicorns or Leprechauns?

Chris Skinner

Someone said to me recently that most tech Unicorns are more like Leprechauns. A Leprechaun is also mythical and magical but, rather than delivering riches, it just promises riches at the end of a rainbow you never reach.

Alipay and Visa announce global QR code venture

Chris Skinner

We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular.

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Blockchain is dead

Chris Skinner

I used to blog about blockchain and distributed ledger technology (DLT) almost once a week … four years ago. Today, I hardly blog about it at all.

Will a global platform connect all of our money?

Chris Skinner

When I talk about FinTech, I often reflect on the first time I encountered what I would, today, call a truly FinTech firm. It was on March 30, 2005, and a newly formed firm presented at the Financial Services Club an idea.

Leaving customers digitally high and dry … big mistake

Chris Skinner

I’ve recently seen two blogs about issues with challenger banks N26 and Tandem. They both relate to the ways in which these new banks communicate, or not in these cases.

Want a decent analysis of #Brexit from an EU view?

Chris Skinner

Another key theme of the weekend conference was Brexit, best summed up by one panellist as a decision made by a confused population about an issue their politicians can’t agree with, don’t want to implement and has no support.

Who owns the data? Who’s in control?

Chris Skinner

I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more.

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Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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Everything you need to know about Apple’s new credit card (and a bit more)

Chris Skinner

I was about to write a really nice piece about Apple’s announcement of the launch of a new credit card, in partnership with Goldman Sachs, when Brian Roemmele beat me to it. Who is Brian Roemmele you ask? And if you are asking that … WHERE HAVE YOU BEEN?

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The economic outlook for the next few years is …

Chris Skinner

I was lucky enough to be invited to a conference of the great and the good managing one of the large economies of Europe the other day. It was in a fine location, with lots of dignitaries, media coverage, security guards and German shepherds.

Time for a global FinTech platform?

Chris Skinner

I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different.

The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking.

The true meaning of Open Banking

Chris Skinner

A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking.

Time for a global regulator

Chris Skinner

I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. There were some interesting reflections in that dialogue, however.

What does the #Brexit vote mean for banking and fintech?

Chris Skinner

Being British with a British accent, everyone asks me about what life will be like with Brexit … and my answer is that I have no idea. I can see that the country is divided, and we have real issues, but then don’t most countries?

The challenge of transforming into “Banks of the Future” (research)

Chris Skinner

During the weekend I presented the trends on FinTech and Tech Fin, my two favourite subjects. I’ll update on that shortly but I was also involved in a study the organisers – The European House Ambrosetti, a leading economics think tank based in Italy – conducted before the conference.

Things worth reading: 12th April 2019

Chris Skinner

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When will Amazon launch its bank?

Chris Skinner

Name the company that strikes fear into everyone’s hearts in business? In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess. In the 1990s, it was Microsoft.

Revolut: the growing pains of a FinTech unicorn

Chris Skinner

One of the things I say fairly often is that the FinTech start-up community is fairly naïve. Not all, but many, do not understand the nuances of finance and why it is regulated the way it is.

Today’s cool is tomorrow’s retro

Chris Skinner

I was once again reminded of the stupidity of passwords when locked out of yet another service that I use maybe once a year. When I decided to reset the password, once again my iPhone offered to set up a strong password that it would remember for me.

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Will Facebook become the world’s central bank?

Chris Skinner

I got a large number of pings over the weekend to read and comment on an article on Medium by Lance Ng headlined: Facebook Plans to Become World’s Biggest Central Bank?

Women in FinTech … yes, we care

Chris Skinner

So, I blogged last week about women in FinTech and whether we care, and got lots of replies … from women … who said yes, we care. Interesting that there were not so many replies from the other gender, but hey what do you expect?

Are you in banking or technology?

Chris Skinner

I’ve had a lot of conversations with bankers and technologists, and realised something recently.

The bank CIO sees most tech firms as blah, blah, blah

Chris Skinner

I can understand why bankers can be sceptical about what technologists say. For years, technologists have been telling them that their business is threatened by technological change.

39 FinTech Unicorns Valued at $147.37 billion

Chris Skinner

I spotted an article by Linus Beliunas on LinkedIn this week, and liked it so much that wanted to share. Enjoy! 39 FinTech Unicorns Valued at $147.37 billion 2018 was a phenomenal year for FinTech.

The Finanser’s Week: 8th April – 14th April 2019

Chris Skinner

The main blog headlines are … Leaving customers digitally high and dry … big mistake I’ve recently seen two blogs about issues with challenger banks N26 and Tandem. They both relate to the ways in which these new banks communicate, or not in these cases.

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UPDATE: The Blockchain Hype is Dead!

Chris Skinner

For those fooled by yesterday’s spoof news about Alipay and Visa, did you notice it was April 1? If not, you should have clicked the link in the blog. Talking about spoof news, I think my blog Blockchain is dead upset a few blockchain enthusiasts.

Are banks customer focused?

Chris Skinner

I’ve talked a little about TechFin in the past but, in my presentations, I talk more and more about TechFin versus FinTech. FinTech is doing what we’ve always done, cheaper and faster and better with technology. TechFin is reimagining everything with no idea of what’s been before with technology.

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future.

Is JPMCoin a cryptocurrency and what should SWIFT do about it?

Chris Skinner

It’s not often that the Twittersphere I watch lights up in deep conversation, but a long one started last week thanks to JP Morgan’s announcement of the JPM Coin. Falsely labelled a cryptocurrency, loads of headlines emerged about JPM killing XRP, the currency of Ripple.

Things worth reading: 5th April 2019

Chris Skinner

Things worth reading: 11th April 2019

Chris Skinner

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The Finanser’s Week: 1st April – 7th April 2019

Chris Skinner

The main blog headlines are … Alipay and Visa announce global QR code venture We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular.

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If banks provide no advice, what do they provide?

Chris Skinner

For many years, banks have talked about moving away from transactions and towards advice. The branch is for advice. We will become trusted advisors. We see the value-add of banking is the information we can analyse around your data to offer advice. Complete rubbish.

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Transforming the bank: three phases of change

Chris Skinner

I’ve mentioned quite often that you cannot sort out all of the banks systems and structures overnight. It has to be a slow burn and often takes more than five years. It also appears to take place in three phases. The first phase is to sort out the basics.

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AI, machine learning, data and Nordic banks

Chris Skinner

Last week we had our first meetings of Nordic Finance Innovation, the largest networking group in the Nordic region for people involved in finance and technology which I happen to chair. The meeting focused upon data: data usage, data analytics, data leverage and data privacy.

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FinTech Forecasts for 2019

Chris Skinner

There are many pundits predicting change in banking and FinTech this year. Here’s a review of a few of the ones that have some depth. American Banker published seven FinTech predictions for 2019 by Bob Legters, Chief Product Officer of Banking and Payments at FIS.

Infrastructure and Incentive: Making Cashless a Reality

Chris Skinner

I often reflect on how quickly China is moving towards being cashless, as are parts of Africa and much of India. I then realised that it is a strong mix of simple infrastructure and strong incentive.

The difference between machine learning and artificial intelligence

Chris Skinner

I often point to a banks’ executive leadership team and ask the question: who can tell me the difference between blockchain and distributed ledger? If anyone even goes there, I then ask them to tell me the difference between artificial intelligence and machine learning.

Will bank brands survive in this digital world?

Chris Skinner

We were having a debate about brand loyalty in a mobile world. The discussion began with talking about how it used to be complex with dealing via branch and call centre; then it was branch, call centre and online; now, it’s branch, call centre, online and mobile.

The Art of the Corporate War

Chris Skinner

One of the greatest challenges in digital transformation is the cultural change, that has to be led with passion and commitment from the top-down. As I’ve already mentioned, that means a Board mandate and the Chair and CEO being fully on board. But what about the C-team?

Which camp are you in?

Chris Skinner

There are five camps out there. The first is the FinTech camp. This camp sit around the campfire and go “down with banks, down with banks”. They believe banks are out-dated legacy firms who have no idea about the modern age of technology.