Bankers need but one mantra today: “my bank is a technology company, my bank is a technology company.” And exhale. The truth is this concept appears to be incredibly difficult for the vast majority of American banks to fully grasp even today — unlike European banks, for example. Why exactlyRead More
August 28, 2015
August 28, 2015
August 28, 2015
August 27, 2015
Israel is a small country bursting with startups in search of wider markets. That’s why Israeli entrepreneurs appreciate opportunities like Citi Mobile Challenge, which came to Jerusalem — among a number of other cities, including London, Nairobi, Warsaw, and New York — to offer mobile innovators a chance to present to an audience of investors and technology enthusiasts.
Coin, the card aggregation device, introduced its version 2.0 device with NFC capabilities a couple of days ago, and it is, well, lacking. Below is a demo of the device. Coin 2.0 reportedly started shipping on August 26 “to all backers.” The company originally said it would start 2.0 shipments last April. The upgradeRead More
We see three levels of maturity in the relationship between Fintech ventures and Banks: Level 1: Incomprehension. The other party just looks strange and it is hard to imagine a productive conversation. Level 2: Funding. Banks take minority equity stakes in Fintech ventures. This is the level that most relationships have reached. (FundingRead More
What George, Jane and family can teach bankers about innovation and the velocity of change Like many kids growing up in the 1960s, I looked forward to Saturday morning cartoons. Armed with my bowl of Rice Krispies—the only time I was allowed to eat in the living room–and sporting myRead More
Mariano Belinky, managing partner of London-based Santander InnoVentures, has joined the speaker faculty of Bank Innovation Israel, to be held in Tel Aviv, Israel on Nov. 10-11. Mariano BelinkyBelinky will join the “Bank-Startup Collaboration” panel, which will address ways financial institutions can collaborate with early-stage companies to maximize innovation.
Wall Street has given investors a wild ride in recent days. That is, with the exception of fintech investors. The Bank Innovation portfolio of stocks, which includes 25 fintech companies, has dropped in value 2.24% since July 20. That compares to a loss of 9.83% for the Nasdaq since that date.Read More
There is little doubt that the insurance industry has at least one eye firmly focused on the impact of technology. Across all segments of the global insurance market, the key questions being asked at the most senior levels all center around tech and how it will drive new business modelsRead More
Here are some frightening comments picked up at bank conferences in the last six months from executive level bankers: – “Regulators have finally realized their destiny and made it impossible to stop the Fintech industry from taking over retail banking.” – “Banking has reached singularity – the point when computersRead More
The mobile banking apps of the 10 largest banks in the U.S. just don’t measure up. The average iOS iTunes score for those apps is short of the average score for the most popular fintech apps — make that, well short. On a scale of one to five, with five being theRead More
BankMobile can truly say it is more than just a bank — it’s a technology company, too. It’s a common refrain across many industries to say your company is a technology company first and a bank/phone company/ice cream store/whatever second. But a few banks are taking this a step further and using theirRead More
It is worth looking at Y Combinator batches because it is such a Darwinian process that it reveals underlying trends. Last week I looked the most recent Y Combinator batch and found that 26% were Fintech, more than 2x any other batch. Apart from more confirmation that Fintech is aRead More