Articles

Fintechs and Banks: An Unequal Partnership

Years ago I consulted with the legacy Wachovia Bank, headquartered in Winston Salem. Back then the bank-teamed credit and line bankers on each commercial loan, terming their working relationship an “equal partnership.” In fact, when you spoke with management offline, many admitted that the credit people were a bit more equal than line personnel.

Articles

Articles

To Understand the Future of the Financial Services Industry, We Must Look Beyond FinTech
While businesses are catching up with the rise of e-commerce and the mobile-first world, physical interfaces altogether are gradually falling into obsolescence. The year 2017 gives strong reasons to believe that working on the enhancement of the experience with any physical interface could be a wasteful attempt to better feed a horse instead of...
Business Banking Sucks – but a few FinTechs and Big Banks are trying to change this
As a business owner, I rarely log into my business bank account. They make it too hard for me to log in, and when I do, the level of capability doesn’t reflect the jobs I have to do on a day-to day-basis. We are hugely busy building our company, 11:FS , and I can’t be bothered with something that doesn’t give me basic insight and isn’t at all...
Fintechs and Banks: An Unequal Partnership
Years ago I consulted with the legacy Wachovia Bank, headquartered in Winston Salem. Back then the bank-teamed credit and line bankers on each commercial loan, terming their working relationship an “equal partnership.” In fact, when you spoke with management offline, many admitted that the credit people were a bit more equal than line personnel...
How Banks Can Compete Against an Army of Fintech Startups
It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. To the extent that banks have digitized, they have focused on the most routine customer...
Can 'fintech' innovations impact financial inclusion in developing countries?
Financial technology, “fintech,” has been reshaping the financial services industry with the level and speed of innovation that’s simply fascinating. A month ago, my colleagues and I attended the 5th Annual Lendit USA conference to check out about the latest innovations and thinking in this field and see how we can apply it to our work. There is...
3 Reasons Why Collaboration Between Fintech Firms and Banks Makes Sense
The battle between banking behemoths and new-age fintech firms may seem like the classic David versus Goliath. But dig a little deeper and there may not be much merit in pitting one against the other. On the surface, one seems like an antiquated giant that’s hard to beat and the other is young, relevant and oh so agile. Fintech firms have the...
Financial Innovations in Turkey, Interview with BKM CEO,
Could you please tell us a bit about the banking sector in Turkey? We may describe Turkish banking sector as strong, innovative, modern and well-regulated. Banks in Turkey have been highly enthusiastic about using new technologies to reach and engage with their customers. They are also very successful in adopting and launching innovative...
Understanding Payment Systems in the Times of Fintech
Payments are nowadays widely considered to be gateways for financial inclusion. Withdrawing money or repaying a loan are basic financial transactions without which traditional financial products like credit, savings and insurance would not be possible. In addition to being gateways to financial products, payments, and more specifically digital,...
Rethinking Banking with Fidor Bank, Podcast
Today we’re very lucky to be joined by Sophie Guibaud, Head of European Expansion for Fidor Bank, one of Europe’s original and best known digital-only banks. Originally launched in Germany in 2009, Fidor expanded into the UK in 2015. Prior to joining Fidor, Sophie led product strategy and commercialization at Bankable, a white-label banking...
Fintech for SMEs is the next big thing (again)
In the excitable world of fintech, companies, technologies, business models and customer segments rise and fall in popularity with speed and volatility matched only by bitcoin. After ridding the world of outdated, predatory incumbent banks in the interest of honest, hardworking, iPhone-wielding men and women, fintech was going to fundamentally...