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Innovation – Finance – Technology

Month: November 2016

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Open banking: A key turning point in the digital banking revolution?

The landscape for financial services is changing, and the jury is still out as to how the endgame is going to play out. One of the concepts shaping this future is open banking. For this topic I have chosen to invite Chris Skinner from the Financial Services Club, Brett King of Moven, Matthias Kröner of Fidor and Pascal Bouvier, venture partner at Santander to join the discussion. Tune in to this free webinar on Brighttalk December 7th to hear some of the worlds leading experts on digital banking discuss what they are saying, doing, and planning when it comes to open banking.

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Open banking: Getting the business model right

APIS are at the heart of open banking. If executed correctly propose to increase innovation, foster collaboration, extend customer reach and lower costs compared to existing legacy systems. A key concept in the open banking paradigm is to use open source technologies to enable third-party developers to build financial applications on top of the banks’ exisiting infrastructure. To succeed with an open banking strategy without rendering oneself obsolete, finding the right business model is imperative.

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Open banking: The nature of digital ecosystems

The banking industry is facing many of the same perils as the telco and media industry has been though in the latter years, and the primary challengers are the same ones that have been feasting at the media and telco’s profit margins for more than a decade. These are the four horsemen of the incumbents apocalypse (Google, Apple, Facebook and Amazon). While they are vastly different in many ways, they all share the traits of a succesful digital ecosystem.

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How did we end up here?

Like many other Europeans I woke up today to the shocking news of Donald Trump winning the presidential election. As a browsed through every news resource I could come across on my phone hoping that someone had gotten this wrong the media coverage was eerily similarity to what followed the Brexit referendum back in June. What just happened? Why didn’t we see this coming? How did we let this happen?

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A talk with ThoughtMachine on VaultOS and the future of core banking

Core banking is considered for many as the gordian knot in the digitization of banking. As a result, a vast majority of fintech companies are innovating around the core, leaving legacy IT to the banks. However, some entrepreneurs are audacious enough to attempt to renew core banking from scratch. I had the pleasure of meeting Tristan Fletcher of ThoughtMachine in London earlier this fall, and used the occasion to ask him a couple of questions of which problems ThoughtMachine is attempting to solve with VaultOS.

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Intelligent automation and the future of finance

Artificial Intelligence (AI) is likely to provide opportunities to deliver smarter solutions for end users and transform the banks processing capabilities. Last week, UBS invited leaders and experts from the financial industry, fintechs, academia and regulators come together to discuss the future of Intelligent Automation and start to build a common understanding of what a successful approach would look like. I had the pleasure of attending this event and we explored the most relevant issues covering where, when and how this will happen.

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