Fintech Insider Podcast by 11:FS

Latest Episodes:

Ep. 265. News: Guess who’s back? Jun 19, 2017

Show notes

In this episode

David is back! He and Aden are joined by regulars Liz and Sarah for the news.

This week the team take on The FCA’s cohort 3 and reveals cohort 2 for their sandbox; Amazon flexing it’s financial services muscles; and the “demise of a fintech darling” as Monetise is to be acquired by Fiserv for £70million, when it was previously valued at £2billion.

They also ask “what the hell is Zelle?” – the instant transfer app taking the US by storm, a key rival of Venmo, a product of six banks working together with 86million instantly available customers, it looks set to make big waves. The team also tackle Uber upheavals, and the ongoing sexism disputes threatening to tear the company apart, leaving it currently without a CEO, CTO or COO – is this the beginning of the end for them? Even if it’s not, being the “Uber of banking” may no longer be a thing to aspire to.

They also discuss what is the future for the small town bank branches and is honesty the best policy?, as Monzo sends out open communications explaining the need to verify 20,000 customer accounts or else to shut them down.

And finally… Potcoin Dennis Rodman and North Korea – is this a movie waiting to happen?

Guests

Sarah Kocianski, Senior Research Analyst Fintech at Business Insider UK
Elizabeth Lumley FinTech commentator & Author of girl-disrupted.com

News this week

FCA – Financial Conduct Authority provides update on regulatory sandbox – Link
Reuters – Amazon lent $1 billion to merchants to boost sales on its marketplace Link
Finextra – Fiserv to acquire Monitise for £70 million – Link
New York Times – Cash Faces a new challenger in Zelle, A mobile banking service Link
BizJournals – Bank of America launches new high-tech financial centers around U.S Link
The Guardian – As we wave goodbye to cash, ATMs have had to get a whole lot smarter Link
Finextra – Monzo may have to freeze some accounts under new money laundering rules – Link
The FT – Deutsche Bank wealth arm targets Asia super-rich Link
New York Times – Uber embraces major reforms as Travis Kalanick, steps away Link
New York Times – David Bonderman resigns from Uber board after Sexist remark – Link
The Register – Ta-ta, security: Bungling Tata devs leaked banks’ code on public GitHub repo, says IT bloke Link
FNLondon – Email hoaxer catches out top brass at Citi and Goldman Link
The Verge – A cryptocurrency for weed is sending Dennis Rodman back to North Korea Link

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Special Guests: Liz Lumley and Sarah Kocianski.

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Ep. 264. Interview – Daphne de Kluis – CEO of Commercial Banking, ABN AMRO Jun 16, 2017

Show notes

In this episode

Jason interviews Daphne de Kluis, CEO of commercial banking at ABN AMRO, the Dutch banking giant.

Speaking at the Beyond Banking event in Amsterdam, Daphne and Jason discuss the importance of the event to enhance co-creation between partners, external clients, and customers to shape the future of banking and products. She believes in the importance of asking clients for their feedback and what they want from their bank to create more collaborative development that allows ABN AMRO to reach beyond the boundaries of the traditional bank and offer better customer service. They discuss the value of entrepreneurship and ABN AMRO’s ongoing efforts to change the company culture to challenge their employees to think outside the box and work more like entrepreneurs, no small feat in such a giant organisation!

Jason also asks her for her views on fintech and challenger banks – does she see them as a threat? They also discuss her thoughts on digitisation in banking – is it almost complete or barely begun?, ABN AMRO’s route to innovation and how talent is always key priority.

Want to know more? Reach out to Daphne via the ABN AMRO website, or connect with her on LinkedIn.

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Ep. 263 – News: Dodd Frank, Trump, Elections, Unicorns – what didn’t happen this week? Jun 14, 2017

Show notes

In this episode

Simon and Aden are joined by regulars Ghela and Sarah for the news.

This week we discuss all things politics on both sides of the pond, especially THAT Dodd Frank legislation repeal proposed by Trump, that seems to have flown slightly under the radar while we were all looking the other way, watching Comey’s testimony- and what this would mean for banks and their customers if it happens. Also on the table is the UK election result and the potential “Brexit dilemma”: other European fintech hubs could take the talent and budget away from London – will London fight back?

They also tackle whether it’s possible for incumbents to ever truly become fintech firms, or will innovation always get bogged down in middle management? On the flipside is Coinbase, who has just achieved unicorn status with their latest valuation – is it a game-changer to have a cryptocurrency firm inducted into unicornland?

The team also debate whether it’s a big deal that Apple have announced a peer-to-peer payment service, to compete with Venmo; and with Atom postponing the launch of their current accounts, are they struggling to be truly digital? Additionally they all agree that Ant Financial is a beast but it is not yet a bank, can it successfully make the switch?

Finally, how do we feel about Australia’s attempt to rename its currency the Dollarydoo – and can the change of a currency’s name affect it’s worth?

Guests

Ghela Boskovich
Sarah Kocianski, Senior Research Analyst Fintech at Business Insider UK

News this week

1. Politics! Trump and Comey, Dodd Frank legislation repeals, and the UK election result.
2. Recode – Apple just announced its own Venmo competitor built into iMessage – Link
3. Atom postpones current account launch – Link
4. The Telegraph – Aviva eyeing AI and big data in bid to become fintech firm – Link
5. Coin Telegraph – Coinbase Valued at $1 Bln, Could Target More Aggressive Global Expansion – Link
6. Nikkei Asian Review – Ant Financial seen becoming world’s top consumer bank – Link
7. Polish fintech companies face Brexit dilemma – Link
8. Marketwatch – A petition to call Australia’s currency ‘the Dollarydoo’ has 50,000 signatures – Link

The post Ep. 263 – News: Dodd Frank, Trump, Elections, Unicorns – what didn’t happen this week? appeared first on 11:FS.

Special Guests: Ghela Boskovich and Sarah Kocianski.

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Ep 262. State of Fintech: Amsterdam Jun 12, 2017

Show notes

In this episode

Jason and Simon catch up with ABN AMRO’s Freek de Steenwinkel & Roland Booijen, and Ali Niknam, CEO of Dutch challenger bank, Bunq to discuss traditional banking vs challenger banks and fintech in the Netherlands. Are fintechs competing with incumbents or assisting incumbents?

They find out how our guests feel about hackathons, hiring developer talent, APIs and the up-coming PSD2 directive. They also discuss regulations, compliance and new product development, in particular ABN AMRO’s Tikkie – an easy-to-use payment management tool, allowing peer to peer transfers via WhatsApp.

Freek, Roland and Ali also give their predictions on the future of the Dutch fintech market as a whole, and its impact on existing banks and financial products.

Guests

Freek de Steenwinkel – Lead Product owner Tikkie (ABN AMRO)
Roland Booijen – Director of Digital Strategy & Innovation – ABN AMRO
Ali Niknam – CEO of Bunq

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Ep 261. Interview – Paul Lipman, CEO of Bullguard Jun 09, 2017

Show notes

In this episode

David interviews Paul Lipman, CEO of Bullguard, the consumer cyber security experts. Following very topical compromises of ransomware around the world, Paul explains how Bullguard are always fighting a constant battle with the “bad guys” to stay ahead of cyber threats to protect their customers across all their devices.

We learn how institutions are still too reliant on old software, exposing their vulnerability and that “patching up” fixes are not enough. Paul reminds us that any software can be hacked and that cyber security education across all businesses and industries is paramount as often it’s us humans that let the side down, no matter how secure the internal systems are!

Paul also discusses his new product, Dojo by Bullguard, a smart home security solution that is designed to protect all your smart devices in the home from being compromised and inadvertently sharing your data to unwanted third parties; and the Dojo Pebble, a notification device that updates you on the data security of your home and lets you know in real time if any threats are found.

Want to know more? Read all about Bullguard and the Dojo product on their website or follow Paul on Twitter.

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Ep. 260 – Blockchain Special Part 3: EEA and ZCash – Open Blockchains for Enterprise? Jun 07, 2017

Show notes

In this episode

In the third of our three part Blockchain Special, Simon and Colin are joined by some very special guests to discuss EEA, ZCash and the potential similarities between blockchain and the rise of cryptocurrencies and the dot-com bubble in the 90s, and asks the question: “Why should we be paying attention?”. They also debate the anonymity of blockchain and user privacy; and centralisation vs decentralisation in blockchain APIs – do we still need the middle man?

In the second half they discuss highly topical news stories such as the EU’s pledge to invest in blockchain research and Theresa May’s proposal for greater internet security and access to public data – is she asking for the impossible?

Like what you heard? Look out for Blockchain Insider – a dedicated podcast to all things blockchain, coming soon!

Guests

Jack Gavigan – COO at Z-Cash (The Zerocoin Electric Coin Company)
Alex Batlin – Co-Founder at Enterprise Ethereum Alliance and Global Head of Emerging Business & Technology and Global Blockchain Lead at BNY Mellon

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Ep259 – News: Dirty Money Jun 05, 2017

Show notes

In this episode

Aden and Simon are joined by regulars Kadhim and Liz for the news. This week we find out if it’s really necessary to use VR in banking; and, as ATMs are dying and costing banks to run, we discuss the pros and cons of hard cash versus digital transactions – and the various reasons why people are still keen on cash.
We also myth-bust the theory that consumers are less trusting of robots or AI for banking and money movements than they would be for major surgery; and if it’s true Google can track what you’re buying online and offline via your credit card purchases – and how do we feel about this? Finally, the team debate the importance of big banks and banking regulators beginning to pay attention to fintech, and why Chicago should be a fintech hub, but isn’t.

Guests

Elizabeth Lumley FinTech commentator & Author of girl-disrupted.com
Kadhim Shubber, Reporter at Financial Times

News this week

Finextra – BNP Paribas jumps into virtual reality – Link
Finextra – Bank of America preps data sharing service – Link
Finextra – Dutch banks bid to manage falling cash use through joint ATM network – Link
HSBC partners with AI startup to combat money laundering – Link
Bloomberg – HSBC Discovers Consumers Trust Robots for Surgery Over Savings – Link
MIT Techreview – Google Now Tracks Your Credit Card Purchases and Connects Them to Its Online Profile of You – Link
President of the ECB talks Fintech – Link
Sydney Morning Herald – China’s P2P lending market 24x bigger than the US fintech lending market – Link
Coindesk – India’s ‘BankChain’ Consortium Launches Blockchain KYC System – Link
Chicago should be a fintech hub but why isn’t it? – Link

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Special Guests: Kadhim Shubber and Liz Lumley.

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Ep258 – Interview: Valentin Stalf, Co-Founder & CEO at N26 Jun 02, 2017

Show notes

In this episode

We welcome back Valentin Stalf, CEO of N26 back to the show. Simon spends some time to catch up with Valentin on N26’s growth and how they’ve forged ahead expanding to new countries. Valentin talks about what is needed to be done to enter the UK market.

We cover N26’s growing pains related to cyber security, Valentin’s approach to countering it and using bug bounty programs to create a sustained defence. We talk to advantages of digital on boarding and what the future looks like for N26 and open API’s. We then find out what it’s like to be a young CEO and how to stay productive while having the world on your shoulders.

You can follow Valentin on Twitter here and learn more about N26 on their website.

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Ep257 – Blockchain Special Part 2: Consensus Recap Jun 01, 2017

Show notes

In this episode

Part 2 of our Blockchain Special, Simon and Colin with a roster of fascinating guests focus on the recent Consensus conference. We cover what the conference is, who should be attending and where it means to the industry. We give you a crash course on the difference between cryptocurrencies and DLT, what the main impacts ledger technology will have on banks and what is causing the major spikes in crypto currency prices right now.

Stay tuned in for our final part next week.

Guests

Ghela Boskovich
Ajit Tripathi, Director, Fintech and Digital Banking at PwC
Jeremy Millar, Chief Of Staff at ConsenSys

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Special Guest: Ghela Boskovich.

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Ep256 – News: We’re Breaking Free May 30, 2017

Show notes

In this episode

David, Jason and Simon jump into the news accompanied by Richard Davies. This week borderless bank accounts, can your voice be secure and we make Simon talk Apple pay.

We also have interviews from Transferwise, Seedrs and Pensionbee to cover their big announcements this week.

Guests

Richard Davies Global Head of Propositions at HSBC
Joe Cross General Manager at Transferwise
Jeff Lynn CEO at Seedrs
Romina Savova CEO at Pensionbee

News this week

Techcrunch – TransferWise launches ‘Borderless’ account for businesses, sole traders and freelancers – Link
BBC fools HSBC voice recognition security system – Link
Apple Pay now supports higher value transactions at most UK contactless tills – Link
American Banker – If banks wait for APIs to be mandated, it will be too late – Link
British firm Seedrs plans a secondary market for crowd-funded shares – Link
afr.com – How Pocketbook went from a Sydney spreadsheet to a fintech with 300,000 users – Link
PensionsBee partners with Revolut
Crypto craziness! A story on it all going off!
Reuters – BofA, HSBC, Intel, others invest $107 mln in blockchain startup R3 – Link