Caught between the devil and the deep blue sea
Chris Skinner's blog » Fintech
by Chris M Skinner
2d ago
I’ve just had several incidents with traditional banks digitally that made me realise they really are faced with big issues. You may have noticed this in my recent blogging, but here are three specific insights that illustrated the point. The first is the fact that I keep having to open the bank’s app to find... The post Caught between the devil and the deep blue sea appeared first on Chris Skinner's blog ..read more
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BaaS is nothing new … it started over thirty years ago
Chris Skinner's blog » Fintech
by Chris M Skinner
6d ago
Way back in the 1990s, we all talked about object-oriented architectures and modular computing. In the 2000s, I called it Banking-as-a-Service, BaaS, and started presenting the idea around the world. The difference between the 1990s and 2000s was cloud and mobile smartphones. This change was the tipping point from fragmented systems to open platforms, and... The post BaaS is nothing new … it started over thirty years ago appeared first on Chris Skinner's blog ..read more
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How the Wirecard story unravelled: an interview with Dan McCrum who broke the truth
Chris Skinner's blog » Fintech
by Chris M Skinner
2w ago
I’ve been following Dan McCrum, the investigative journalist with The Financial Times, for quite a while. He’s the guy who broke the Wirecard story, even though it could have meant quite a lot of personal danger. If you haven’t read his book The Money Men, I can strongly recommend it or, if not, watch the... The post How the Wirecard story unravelled: an interview with Dan McCrum who broke the truth appeared first on Chris Skinner's blog ..read more
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Is it true that challenger banks no longer challenge?
Chris Skinner's blog » Fintech
by Chris M Skinner
2w ago
In the 1990s, I got very excited about a number of challenger banks. Sainsburys, Tesco and Virgin all launched new banks in the UK, and there were several others worldwide such as the (David) Bowie Bank and the G&L (Gay and Lesbian) Bank. Where are they now? Nowhere. Sainsbury bank is up for sale, Tesco... The post Is it true that challenger banks no longer challenge? appeared first on Chris Skinner's blog ..read more
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How old banks are alienating GenZ
Chris Skinner's blog » Fintech
by Chris M Skinner
2w ago
I have found that several of my major bank account providers have started to question me about various activities from cryptocurrency investments to general document identification and reidentifying who I am. Of course, these are all driven by regulatory requirements for compliance, KYC, AML and such like but, in the process, it has killed my... The post How old banks are alienating GenZ appeared first on Chris Skinner's blog ..read more
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Introducing the Dimonsaur
Chris Skinner's blog » Fintech
by Chris M Skinner
2w ago
For the past decade, Jamie Dimon has regularly been decrying bitcoin as a scam. Here’s a few of his quotes: Jamie Dimon tells Davos that Bitcoin is a ‘pet rock’ that does nothing—except help with fraud and money laundering Jamie Dimon lashes out against crypto: ‘If I was the government, I’d close it down’ JPMorgan... The post Introducing the Dimonsaur appeared first on Chris Skinner's blog ..read more
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Are fintech firms friends or foes?
Chris Skinner's blog » Fintech
by Chris M Skinner
3w ago
I just received an interesting report released in January by ClearBank and Celent, looking at how electronic money and electronic payment institutions (EMIs and EPIs) work with banks and the financial ecosystem. The findings indicate that these start-up companies fill the gaps where incumbent banks feared to tread, such as offering crypto clearing services. John... The post Are fintech firms friends or foes? appeared first on Chris Skinner's blog ..read more
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How does cashless work in the gig economy?
Chris Skinner's blog » Fintech
by Chris M Skinner
3w ago
One of the biggest challenges in moving to cashless is that there are a lot people who rely on cash. I hate it when you go to a restaurant and pay by card, because there’s nowhere to leave a cash tip. Sure, there’s a service charge, but will that be given to your host and... The post How does cashless work in the gig economy? appeared first on Chris Skinner's blog ..read more
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When the network fails, what do you do?
Chris Skinner's blog » Fintech
by Chris M Skinner
1M ago
I was driving to pick up my dog the other day from his kennel stay. We had been away on a holiday and the dog was booked into his doggie hotel. Halfway there, and being purely reliant on digital maps, the maps stopped navigating. Maybe I lost the signal or maybe there was no signal... The post When the network fails, what do you do? appeared first on Chris Skinner's blog ..read more
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Have we created Generative Finance yet?
Chris Skinner's blog » Fintech
by Chris M Skinner
1M ago
Question: Have we created Generative Finance yet? Answer: No. Everyone has been talking about Generative AI for the past year or so, particularly after ChatGPT and OpenAI hit the market … and yet a lot finance is still really dumb. Where is the intelligence in finance? And, when we do get AI integrated with finance,... The post Have we created Generative Finance yet? appeared first on Chris Skinner's blog ..read more
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