2017

FinTech and the world of investment banking

Chris Skinner

Some people talk about FinTech disruption and how payments and banking is being attacked and unbundled by start-ups, but we often look at banking too simplistically.

Blockchain VC Fund Gets First Investors For New Ethereum-based ICO

Bank Innovation

The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic.

Transforming customer engagement with cognitive virtual agents

Insights on Business

The average consumer interacts with customer service 65 times in a year. That adds up to more than 270 billion service calls made on an annual basis. Multiply that by an average cost of about $1.00 a call, and you’ve got very big problem for global businesses.

Giving Back Has ROI, Too

Credit Union Geek

Originally published on CUInsight.com Does your credit union give back? That’s a silly question. But does your community support program intricately tie in with member engagement? A friend of mine used to work for the local chapter of the American Heart Association.

Passport, the technology business for city transit systems, raises $43 million

PYMNTS

Passport, company that’s managing much of the technical aspects of how people pay to use public transportation resources in cities like London, Miami and Los Angeles, has just raised $43 million.

The crazy world of crypto currencies and ICOs

Chris Skinner

I’m boarding a flight yesterday and murfing (mobile surfing). Flicking between Facebook apps, twitter, bank account, BBC news and more. Suddenly I spot a new ICO – Initial Coin Offering – for a new bank.

12 reasons why banks don’t innovate

Chris Skinner

I just got back from the ICEEfest in Bucharest, Romania. It’s a fantastic expo organised by Dragos Stanca and his team, and was very enjoyable even with the master of ceremonies, Jeff Leach, taking the mickey out of me.

More Trending

Who owns the customers’ data?

Chris Skinner

Following on from the discussions about identity on Monday, it gets interesting to think about the customers’ data and who owns it, especially in light of the Payment Services Directive 2, PSD2 for short, which comes into force at the start of next year.

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Why bankers only see horses and technologists are creating cars

Chris Skinner

I was at a large bank’s wealth management conference recently, where the CEO was being quizzed about various areas including a lot about technology and FinTech.

Lego bank is here, but it’s not built with Lego

Chris Skinner

A short time ago, I hosted an interesting group for the Nordic Finance Innovation meetings. The meeting gathered several of the leading-edge Banking-as-a-Service (BaaS) companies that have launched in the last few years including Bud, Clearbank, Leveris, Saxo Bank and Solaris.

InsurTech’s big ticket items: machine learning on the blockchain

Chris Skinner

I don’t usually tell people that I’m a qualified expert in insurance as it’s not relevant, but I’m mentioning it today as I just presented at a private insurance event. There are lots of interesting nuances in insurance.

2017 Innovators to Watch: 44 Executives Shaping the Future of Banking

Bank Innovation

2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum.

Blazing a path for blockchain in banking

Insights on Business

According to a report from Santander, blockchain technology is poised to save banks $20 billion dollars a year in infrastructure costs by 2022.

Why Net Neutrality Matters To Credit Unions

Credit Union Geek

You may have read something online about Net Neutrality. Or, your techie friend insisted you submit a comment to the FCC about it. “The fate of the Internet rests on our speaking out!”, ”, or something along those lines.

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Why savvy investors should focus on Kazakhstan (and other frontier markets)

PYMNTS

If I told you that you could travel back in time, to the end of the nineteenth century, and invest in a country that was recently war-torn, and in great transition, would you do it?

The Top FinTech Trends of 2017 … were they?

Chris Skinner

The other forecasting I made at start of year concerned the big FinTech trends of 2017. Again, I thought it might be of interest to revisit them.

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Five FinTech Themes from 2017

Chris Skinner

Following on from talking around the big ten tech themes last Friday, I thought I would follow up with five FinTech themes for right now. This came out of a keynote speech I gave at Celero’s 9th annual technology conference in Canada last week.

A world without money

Chris Skinner

I have no academic papers or historical research view on what I’m about to post, although I will find some, but I was reflecting on my discussions of revolutions in humanity. In particular, the second age of humankind, when we invented money as a control mechanism.

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Bankers see faster horses; technologists imagine cars

Chris Skinner

I was chairing a conference on blockchain and distributed ledgers the other day. The audience were a mixture of start-ups and banks, and the speakers were talking about how they viewed the world of distributed ledger developments.

Why FinTech start-ups think they can beat the banks

Chris Skinner

There’s an old joke about the guy who’s lost driving in the countryside who stops to ask a pedestrian how to get to the city. The pedestrian replies: “oh, if you want to get there, I wouldn’t start from here”, and this is exactly how banks feel today.

Slow regulations versus fast tech

Chris Skinner

Before 2010, I was writing a lot about technology but it was all heavily geared towards regulations. It was pretty dull, to be honest, but worthy. MiFID and PSD were top of mind, along with Basel III and other global, European and domestic regulations. I wrote a lot about regulations.

The best research into Open Banking

Chris Skinner

I’ve recently noted a number of reports about Open Banking, with many published recently due to its imminent arrival on January 13, 2018. Source: IBM As can be seen, we have several different groups working on Open Banking.

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Sofi, Quovo Show Off New Wealth Management API

Bank Innovation

A quick, seamless API for wealth management customer authentication and data aggregation may not fix all of SoFi’s problems, but it certainly helps.

Open banking APIs are open for business

Insights on Business

See how open banking APIs are transforming financial services (and businesses, too!). What is “open banking”? I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine.

Different Credit Unions For Different Members

Credit Union Geek

“Our members are different” might actually be true. However, it’s for different reasons than cited. Most people react similarly to good marketing and smooth user interface design.

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The largest payments company in the world that most people have never heard of

Chris Skinner

I blogged a year ago about TechFin, the incumbents’ view of applying technology to existing banking services, versus FinTech which seeks to transform the financial system.

Barclays Africa and their co-creation projects

Chris Skinner

I saw a really interesting presentation in Kigali at the Dot Finance Africa FinTech Summit from Yasaman Hadjibashi, Chief Creation Officer with Barclays Africa (soon to be something else).

Is Amazon About to Burst Banks?

Chris Skinner

I get press releases all the time and generally ignore them. In fact, I don’t know why they email me, as I never post them on the blog. Uh-oh. I just got one that I’m posting on the blog. Floodgates opening. What will happen when Amazon opens a bank.

Africa is leap-frogging the financial world with mobile

Chris Skinner

Expanding on yesterday’s discussion of how MNOs are sweeping up business for the underbanked and unbanked, Igor Pesin of Life.SREDA posted a lovely update giving even more detail.

Build or Buy or Build and Die?

Chris Skinner

I was having a chat with a banking buddy who was expressing his frustration with the fact that their PSD2 developments were not going the way he wanted. He had found a nice little FinTech start-up with a really neat Open API capability which could be used by the bank in days.

It’s the ATM’s 50th birthday today!

Chris Skinner

It was exactly 50 years ago today that the world’s first ATM was unveiled at a Barclays branch in Enfield, London. As a tribute to the golden anniversary, Barclays has transformed the modern-day Enfield cash machine into gold. Today, more than half of UK adults use an ATM at least once a week.

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Introducing Exscudo

Chris Skinner

I’m involved in quite a lot of start-ups, ICOs and funds these days, and recently started a mini-series of interviews with them, as I think it will be of interest to readers of my blog. In the second of this series, I’m interviewing Andrew Zimine, CEO and founder of Exscudo.

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A global currency is coming, whether you like it or not

Chris Skinner

Continuing yesterday’s discussions about a big bank’s conference, I was intrigued at how often the subject of cryptocurrencies and bitcoin came up.

Are Open APIs the Gateway to New Cores?

Bank Innovation

Open APIs have been advancing steadily across the banking landscape for a number of years, though just how “open” may be a point of conjecture.

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How banks can attain new competitive differentiators and customer value in payments processes

Insights on Business

Today, the pace of change in the payments industry seems to accelerate exponentially, as customers increasingly demand instant, contextualised, and in some instances “zero-touch” payments (think “Uber”).

Do you really think that Google or Amazon want to be a bank?

Chris Skinner

I’ve said continually that firms like Google and Amazon will never open a bank.

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Globalizing finance through FinTech

Chris Skinner

I got to thinking about yesterday’s post on humanity in part due to a discussion of global banking. Global, universal banking was the mantra of the 2000s and HSBC, Citi, Bank of America, BNP Paribas, Deutsche and more were all jumping on the bandwagon.