Ep230 – A Proper FinTech Geek Moment

In this episode

We’re very excited about the launch of Clear Bank, the first clearing bank to be authorized in the UK for nearly 250 years. There’s been a lot of business model innovation at the front end – we’ve seen apps doing more convenient FX, more convenient remittance, we’ve even seen peer-to-peer payments, but nobody’s really attacked the rails.

“This is where I’m super excited to see FinTech go. This is a proper, proper geek moment,” says guest Sarah Kocianski, Senior Research Analyst, FinTech, at Business Insider Intelligence. “There has been a lot of interesting stuff on personal finance management, consumer banks – that’s happened already – but for any kind of change to happen in the wider financial services ecosystem, those back ends have got to be updated. They’ve got to be upgraded. They’ve got to be using Cloud and API. That’s why this story really, really excites me. Because I think now we’ve got that key piece of the infrastructure. We can start to see movement. They’re not just looking to serve FinTechs. They’re going to try and serve the big guys, too. You can speed up your processes. You can innovate more easily if you connect with these guys.”

Our guests

Alexander Ball, Managing Fintech Consultant at ING

News this week

1. Finextra – Innovate Finance launches ambassador programme – Link
2. City A.M. – House of Fraser owner Sanpower pulls investment in digital challenger bank Tandem – Link
3. Bloomberg – Ant Financial said considering higher offer for MoneyGram – Link
4. Business Insider – French officials are in London again wooing fintech and finance firms to Paris post-Brexit – Link
5. Forbes – Digital disruption has arrived in FinTech – Link
6. City A.M. FinTech startup and challenger bank Revolut’s launching an Amazon Prime-style subscription for banking – Link
7. banking technology – Bank of England teams with Ripple for cross-border payments – Link
8. Reuters – Goldman building robo-adviser to give investment advice to the masses – Link
9. Bank Innovation – Watson tools are coming to FinTech developers – Link
10.  ZDNet – Westpac Keyboard launches through Facebook, Twitter – Link 
11. BBC – Mountain man: The bank boss who reached the top aged 33 – Link

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