With PSD2 around the corner, both banks and aspiring third parties are preparing for what seems to be a new dawn for financial services. However, the discussions so far have been revolving around on potential loss of transaction revenues and the battle for the customer relationship. However, at the end of the day, the majority of bank revenues are from loans, and how will PSD2 impact lending?
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With the massive amounts of regulations hitting the financial services industry in 2018, regtech is once again a hot industry topic. However, even though regtech was deemed the new fintech back in 2016 it has not scaled, as we would have expected from the initial hype. With a seemingly never-ending flow of regulatory requirements, how will the financial industry respond to the corresponds increasing cost and complexity?
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This is the question that a Norges Bank working group has been investigating in the initial phase of a study of central bank digital currencies. The working group’s report provides an overview of some of the relevant issues in an assessment of whether to introduce a Central Bank issued digital currency in Norway.
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Challenging the status quo is one of the hardest part of leading change. In a time when as good as all industries are facing radical changes over the next decade, innovation is necessary for survival. However, all too often, organizations and leaders are stuck in a “wait and see” mode. Rather than taking a leap of faith into the unknown, incumbents all too often find themselves on the steady decline into obsolescence by doing nothing.
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Blockchain technology is set to have a profound impact on a wide range of industries ranging from capital markets to the music industry. While some use cases may seem obvious, the technology is still surrounded by its fair share of hype and uncertainty. As a manager, how should you approach the subject, and when should you put your money where your mouth is and actively aim to implement blockchain technology?
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In an age where incumbents are facing a perfect storm of change, one must rethink ones approach towards corporate strategy and embrace the exponential nature of a platform or ecosystem strategy rather than sticking to a traditional linear product-centric approach. Failing to make this transition of strategic mindset will spell certain death for your business.
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Et selskap uten åpne grensesnitt er som en datamaskin uten internett
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With a plethora of Gutenberg moments all at once, no industries are safe from digital disruption. This is not limited to only centuries-old incumbents but also born-digital companies need digital transformation to stay relevant. In order to successfully navigate in an ever-changing landscape, leadership is the key ingredient for success.
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On the same week as the international women’s day, I have just started my period of paternal leave with my little son, Olav. So far I’m having the time of my life, and I hope every man gets the opportunity to spend this time with their child. There should be no excuse for men to refrain from this opportunity.
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Mobile payments have been one of the recurring topics for the financial service industry for more than a decade. Having followed this development a while, one thing is for sure No matter the approach to mobile payments, the only thing that matters is user behavior and reaching critical mass in terms of user adoption.
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Join me as I return to the stage on the opening day of Money 20/20 this June in Amsterdam to discuss banking as a service. What is the fate of licensed banks in this scenario, and how will digital ecosystems between incumbents, fintechs, and tech companies evolve?
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For regular readers of my blog, it should be no surprise that I believe that strategic use of APIs are fundamental building blocks for digital transformation. However, opening up comes at a price. Unprotected APIs could provide a back door to data and critical systems open for criminals and individuals with malicious intent.
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Fintech has in a few years grown from a narrow area of interest to become one of the hottest topics in Norway. With an already digital and cost-efficient banking sector, all the prerequisites are in place to succeed in establishing and scaling the next generation of digital banking services.
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When it comes to innovation one of the most common associations to the term is to think outside the box and set your inner child free. While brainstorming completely without boundaries may produce some entertaining ideas, the usefulness of those ideas is often limited. Just look at how small startups are able to challenge behemoths corporations in incumbent industries, it is definitely not due to a limitless supply of resources, but rather the opposite.
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Open banking has been one of the hottest technology trends in the banking industry for a while. But in order for banks to truly embrace open banking, it is imperative that the key concepts of open banking are well-known across the whole organization. This guide aims to give a brief overview and provide a deeper understanding of the term open banking.
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Even though banks have had a digital presence since the dawn of the internet, online banking solutions still resemble an electronic representation of the paper-based bank statement that used to arrive in the mail once every month. If you are convinced that you could do a much better job than the banks in reinventing online banking, you should look no further.
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Digitalisering har vært et tema som har vært vanskelig å overse i 2017, og selv om det tidvis kan fremstå som en hype, så er det lite som tyder på at dette er et fenomen som vil gå over. Norske virksomheter må heller forberede seg på en vedvarende tilstand kontinuerlig endring er den nye normalen der det kommende året vil by på nye digitale muligheter og utfordringer.
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2017 have been an eventful year in the world of technology, digital transformation, and fintech. As we are approaching the end of the year, these have been the top ten topics of the year on my blog according to post popularity.
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We are building the next generation financial application aimed at millennials, promoting financial inclusion – built on blockchain powered by AI all available through state of the art APIs. Everyone has heard this pitch from at least one fintech. How should banks and investors look beyond the hype to distinguish substantial companies from empty promises?
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While the recent surge in bitcoin price is good news for many bitcoin investors, it should be seen as a death sentence for the functional value of bitcoin. As the price continue to reach new record levels, it becomes obvious that bitcoin is useless for anything else than speculation.
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