Panel discussion on the technologies that are disrupting the financial services sector Hakim Mendjeli – Managing Director at 4by90 Tim Lott – Strategy Director at Foolproof (moderator) Michael Berns – Founder and CEO at Gabriele Musela – Founder and CEO at Paylinto
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On the 11th of April 2017, 4by90 and French Digital organised with Nesta an event in Paris to discuss the Open Up Challenge and how French and UK startups were approaching Open Banking. The event was supported by Business France and hosted by our partner Early Metrics. If you don’t know about the Open Up Challenge, you should check it out (here) In this short post, I would like to capture some of the points that were discussed during the event as well as highlight a number of questions that ought to be considered. The views expressed here are my own and do not engage the responsibility of anyone mentioned below. I had the privilege to moderate the discussion with an excellent panel of individuals for whom Open Banking really matter for their business. Bruno Van Haetsdaele – CEO et cofondateur…
I thought the long term value analysis of Ethereum by Pitchbook was excellent. Below are some of the points that I found to be most salient (link to the full analysis at the end of the article). Economics We are not entirely convinced the Medium of Exchange (m=pq/v) theory is an appropriate representation of new and young digital economies like Ethereum, so it is possible value accumulation will be driven by different factors. However, we do believe the nature of the Ethereum economy will lead to miners capturing a much greater portion of value than token holders. This is likely driven by the shift to PoS, which dramatically lowers the cost to maintain the network, as well as leads to greater token velocity when a growing number of dapps pay more transaction fees associated with computational processes on the network.…
The method of announcing a delay on Age verification (fully expected) in the UK is surprising. it appears as a side note reference in a statement on 5G plans. I havent’ found any normative official statement . The exact wording of the statement – buried in an announcement about 5G plans: “For the public and the industry to prepare for and comply with age verification, the Government will also ensure a period of up to three months after the BBFC guidance has been cleared by Parliament before the law comes into force. It is anticipated age verification will be enforceable by the end of the year.” I saw this first through a post shared by David Birch. I had to ask him whether or not he had shared the wrong article! He obviously didn’t. The news has know made its way…
The open banking framework was published this week by the open banking working group. Here I share my 10 most salient take outs in 10 slides. Before we start, I think they have done a tremendous job. It’s an excellent document, the proposals are bold, well presented and discussed. The work is definitely not over, but it’s indeed promising and it should have a material impact on legislations like PSD2. I do think that they are on the right path to meet their mission statement: Unlocking the potential of open banking to improve competition, efficiency and stimulate innovation Here are my key takeouts in 10 slides: 1 -Data, API, Security 2 – A 3 party model 3 – Data: portable, explicit consent and specific usage 4 – A rich variety of data sets 5- Data sets: more granular details 6 – Example: 6 potential propositions enabled by…
Today, PayM published their statistical update running to the end of 2015. I have listed my key take outs below. PayM growth has slowed down substantially We can see that the rate of growth of registered users has decreased in 2015. There have been 139k less registrations in Q2 2015 vs Q2 2014, i.e 18% less registrations (see graph below) 17% of mobile banking users are registered to PayM? As of end of 2015 the Paym registrations stand as just above 3M: So is that big or small? Let’s do some rough maths. I think there must be circa 18M mobile active banking users in the UK. Hence that means that ~17% of UK mobile banking users have signed up to Paym. That’s not bad really within a 2.5 years period. Average transactions value down by 11% Average transaction value…
Challenger banks landscape in 2015 Highlights Are the big 5 becoming too big to compete? Why choose a challenger in 2015 These pictures are an extract of the KPMG challenger banking reports published in May 2015:. Few questions to ponder in 2016: Will better technology infrastructures enable 2016 challenger banks to provide customers with compelling new propositions that will give them a truly differentiating proposition? What will be the impact on existing challengers banks of the launch of the new wave of tech powered challenger banks What will be the C/I ratio of the tech powered challengers? 50%? 40%? 30? Can it give them a compelling competitive advantage against other banks?