Banking Technology April 2017

Banking Technology April 2017

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

A note from our editor, Tanya Andreasyan:

You can’t make an omelette without breaking some eggs.

The challenger bank world is an exciting one, but behind all the marketing buzz, eye-catching presentations and social media excitement is a whole lot of hard work, metaphorical blood, digital sweat and funding tears.

The latest story on how fortunes can quickly turn in the start-up banking world is the investment woes of London-based Tandem. Crowdfunding can only get you so far. A bank needs strong backers with solid investment capabilities – and it would seem Tandem found them: House of Fraser, a well-known retailer in the UK. £35 million was promised in late 2016 and £6 million invested. Fast-forward a few months, and the investment is no more. And with this Tandem’s plans to offer savings products are no more. The bank had to give up its deposit-taking, i.e. banking, licence (which getting in the first place is an arduous task!)– although the founders are adamant this is a temporary measure.

Last year, First Global Trust Bank (FGTB) had its banking licence granted and then cancelled by the UK regulators. Its main backer, Gordian Knot, felt “the combination of a difficult and fast changing regulatory environment coupled with the difficulties of trying to innovate in the financial markets post the 2008 crisis” forced it to give up on FGTB.

Gordian Knot itself has first-hand experience of the financial rise and fall – the firm once managed billions of dollars through a structured investment vehicle (SIV) until that vehicle’s 2008 collapse.

Nevertheless… 28 institutions are currently looking to get a banking licence in the UK – more than anywhere else in the world, I believe. The majority of these are the existing finance companies and foreign banks.

We’ll continue to keep a watchful eye on the challenger banks’ progress. It surely won’t be dull! Their fortune is a fickle mistress.

The April 2017 edition of Banking Technology features:

Payments commentary
How the West will be copying the East.

Innovation spotlight
US banks and FIs going social.

Diversity: call to action
Culture in investment banks is a ticking time bomb.

Report: fintech life outside London
Yes, it exists in the UK regions. And it is vibrant!

Insurtech
Next big thing in insurance: co-bots (not robots).

Interview: Oliver Hughes, Tinkoff Bank
A bank that is more like a fintech… and a financial supermarket.

Wealth management goes digital
UBS SmartWealth – first of its kind in the UK.

Speaking from experience
Lessons learnt on a start-up journey. 

Case study: QNB Finansbank
Digital innovation in practice – from front-end to the core.

And not to forget the Regulars of course:

Appointments – the movers and the shakers.
Industry events – mark your calendars!
Out of office – curiosities, frustrations and mishaps of the fintech world.

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