Chris Skinner
ChairChris Skinner is an author, expert and speaker on banking, finance and fintech. He is the author of the The Finanser blog and chairs the Financial Services Club.
Chris Skinner is an author, expert and speaker on banking, finance and fintech. He is the author of the The Finanser blog and chairs the Financial Services Club.
Up to now, the most successful fintech firms have tried to fill gaps in underserved market, not replace banks. But a new crop of U.K. startups seeking bank charters is turning up the heat.
Financial institutions are trusted stores of data about money because they are insured and have a license from governments to operate. Monetizing that data can give them a leg up on the tech giants.
Banks have resisted the need to switch their core systems, but how long can a financial institution continue to operate on a foundation of dust?
The two leading contenders vying for the cryptocurrency crown both have serious backing, but the technology is still developing and the endgame is still a ways away.
While many fintech companies are trying to disrupt banking niches, the blockchain has the greatest potential to completely transform finance the way Uber and others have done for their industries.
I made a provocative comment, as it turned out, during my keynote at a recent conference. The comment was picked up in a press article that reported I said "the coding behind virtual currency bitcoin could also prove to be enormously transformational, potentially even replacing the Swift network for interbank payments."
Supplanting a 50-year-old interbank network with the technology tied to bitcoin sounds provocative. Here's why it's not that crazy.