Future vs Past

One of the landmark political changes has happened on Friday. I don’t want to go into details of that event but I just want to share a short write up by Albert Wenger, a VC from Union Square Ventures. This is something I deeply agree with:


The Fight of Our Lifetime: Past against Future

Many of the people in power or currently grabbing for it are trying to maintain the recent past or even go back further. This is the fight of our lifetime. The Past against the Future. It is NOT: left against right, rich against poor, black against white, Islam against Christianity, men against women.

Do not let yourself get dragged into these fights, that for now just serve to keep us in the past. Yes, there are vast injustices in the world that need to be addressed, but if we get stuck in the past we will have no chance of ever doing so.

The past wants: less innovation, less automation, less science, less tolerance, less diversity, less democracy, less transparency, more nationalism, more fear, more greed

The future needs: more innovation, more automation, more science, more tolerance, more diversity, more democracy, less nationalism, less fear, less greed

The past scarcities were: food, land, capital.

The future scarcity is: attention.

Do not live in the past. Do not enable people who want to take us back further into the past.

Fight for the future!”


We can’t afford to stop progressing towards a better future.

Thanks for reading; YOU are awesome! Just hit reply if you want to get in touch 🙂

Have a wonderful week,


The Use of AI in Banking is Set to Explode
By Jim Marous

With an origin rooted in risk and fraud detection and cost reduction, AI is increasingly important for financial services firms to be competitive. The digital consumer is being trained by firms that are becoming masters of AI (Amazon, Google, Facebook and Apple) and expect the companies they use to know them, understand them and reward them through personalized communication. This is just the tip of the iceberg. Soon, all financial services firms will leverage the power of AI to deliver better experiences, lower costs, reduce risks and increase revenues.


Fintech Is Entering The Third Wave And This Will Be A Wild Ride
By Bernard Lunn

Financial Services is a big % of GDP, of employment and of corporate profits. Many big companies, that are not labelled as Financial Services, make a lot of their profit from Financial Services. Almost all of this can be digitized and is therefore susceptible to disruption. In short, there is a lot of money at stake. That also means that a lot of money is spent to persuade people that nothing will change and the status quo will remain. Perception does impact reality (aka mindshare leads to marketshare). However, this is PR. The reality is that incumbents can no longer dictate the pace of change. They can benefit from change or be hurt by change, but what they cannot do any longer is dictate the pace of change.


The Catch 22 of Banking
By Chris Skinner

We live in a Catch 22. In every developed economy, there is a core group of banks who control everything. The result is that in some countries we are seeing a whole new raft of digital and physical banks launching. People call these challenger banks. They’re not. I call them neobanks, and here’s the Catch 22. A neobanks will grow in a niche. If it ever breaks out of that niche into the mainstream and challenges the large incumbents, what will happen? The big banks will just let them do it? I don’t think so. When banks see a true threat they either buy it, copy it or kill it.


Trust, Not Tech, Is Fintech’s Advantage Vs. the Banks
By Grace Noto

As the world grows more comfortable with digital, the key to retaining customers is not going to be the technology, but through customer trust. That means the biggest advantage fintechs have over banks isn’t technological innovation, but a lack of that legacy of distrust. Technology is easier to grow than consumer trust—building an omnichannel digital banking service is not quite as difficult as it was just a couple of years ago, even if a bank has to strip a legacy system to do so. Coming up with a stellar integration of both—in other words, growing trust through technology—is what’s going to keep fintechs top of mind for consumers.

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Also published on Medium.

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I'm a #26 Global FinTech influencer. An Economist by profession, I have worked on both sides of the table - tech startups and global financial organisations. I love football, technology, travelling and photography.