Chris Skinner

The main blog discussions this week include … Everything you don’t understand about money combined with everything you don’t understand about computers There’s a quote I often use from John Oliver that cryptocurrency is “everything you don’t understand about money combined with everything you don’t understand about computers”. That was 2018. It’s now 2024, and...

For years, we have talked about digital identities and how to make them work. The fact is that most countries are lagging behind whilst a few are leading, such as India with Aadhaar. Where it is working, it is totally transformative. For example, India moved from only 35% of the population able to access bank and payment services to over 80% in less than a decade. Meanwhile, the UK, USA and Europe have no system. Why? A lack of focus, control, imperative and ownership between the business, bank and government communities. Is this about to change? Maybe.

For the past decade, I’ve written a lot about platforms, ecosystems, digital transformation and connected structures so, when someone asked me the other day what’s hot today, my answer narrowed down to AI, APIs, no-code and Quantum. Why? Because these areas are the most exciting today. But what's hot tomorrow?

I recently did a workshop with a major bank and asked them to send questions beforehand. This is a great way for me to develop a Q&A stream as they asked me lots of questions. The first big question was: What do banks need to do to be successful in the future?

I just spotted a blog by Alan Stapelberg, who is Group Product Manager for Google Wallet. Here’s his opening para:

I got an interesting question in my recent banking presentation:

For over half a century, post the second World War, Europe has been integrating. From a few nations in the 1950s, led by France and Germany, the Eurozone grew to 28 countries. Then, with Brexit, 27.

Someone asked me the other day whether banking mergers in Europe would be a big trend or just wishful thinking. I guess this is because of the imminent acquisition of Commerzbank by Unicredit. Their real point was that the major European banks will need to merge to survive. After all, if American banks can spend three times more on tech than EU banks on technology, surely EU banks will need to merge to survive?

I just got the latest Finch Capital report on The State of Fintech 2024. Many of us think that fintech valuations and investments have gone through the floor, and this reports make clear that it depends where you are. The UK is doing well, as is the Netherlands, whilst Ireland has seen a 90% drop in investments. It all depends where you are.

Due to the extremely dry conditions, Teague ISD has decided to postpone our Homecoming Bonfire. We plan to reschedule the event later in the season, once we receive some much-needed rainfall. Thank you for your cooperation and understanding. Respectfully,