Tag: FinTech

Is the FinTech Utopia Just Around The Corner?

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Utopia: noun  uto·pia  \yu̇-ˈtō-pē-ə\; an imaginary and indefinitely remote place; an impractical scheme for social improvement

There is a common belief today that a coming technology utopia will solve all our problems with the financial system. This type of belief is not new – take a look at these quotes from the 1970s, 1980s and 1990s:

 “The hottest item in the stock market these days is not a security but an automated quotations system called NASDAQ that is speedily revolutionizing the over-the-counter market…The new electronic system gives bid and asked prices on about 2,500 counter stocks” (“The Counter Revolution: NASDAQ Bringing Competition To Wall St”, New York Times, April 4, 1971) Continue reading “Is the FinTech Utopia Just Around The Corner?”

FinTech Won’t Revolutionise Banking

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(excerpt from my book)

In my experience technology has always overpromised and underdelivered. At work, the IT projects I’ve been part of have almost always over-run and not delivered the promised functionality. Outside of work, my smartphone’s battery dies too soon and voice recognition comes up with the strangest answers.

In a move reminiscent of the dot-com frenzy of the late 1990s, many bankers have left to enter the financial technology (fin-tech) sector Continue reading “FinTech Won’t Revolutionise Banking”