Shopify is a Canadian ecommerce platform providing tools to start, grow, market and manage online retail businesses, powering over 1 million merchants in over 175 countries. Since its launch in 2006, the company has expanded its core platform offering to include embedded finance solutions, with the aim of making business…

First launched in 2020 as QuickBooks Cash, QuickBooks Checking is a bank account designed for small businesses, offering seamless integration with the QuickBooks core accounting and payments products. …

Mental accounting “is the set of cognitive operations used by individuals and households to organise, evaluate, and keep track of financial activities” (Thaler, 1999). Different to traditional accounting with spreadsheets, calculations and accuracy, this is about the mental shortcuts we use to group and manage our personal finances. A defining…

Banks around the world are feeling the effects of multiple rising pressures, forcing banking as we historically know it to be reshaped before it gets disrupted. Banks are facing the need to reinvent themselves or run the risk of sliding into irrelevance. Gartner predicts that by 2030, 80% of heritage…

Following on from my last article exploring the forces driving innovation in RegTech, here’s the next instalment, covering the categories of RegTech problems and solutions. There are numerous and often conflicting ways of categorising the different types of RegTech solutions and the problems they are solving, with no industry-agreed standard…

If you were going to launch a new bank tomorrow, how might you approach it? What can we learn from the successes and failures of global challenger banks. …

In 2016, Deloitte declared that “RegTech was the new fintech”. Two years on, the driving forces behind that statement have snowballed, making RegTech the perfect candidate as the theme for this year’s Westpac’s Innovation Challenge. What is RegTech and why RegTech now? CB Insights (2018) defines RegTech broadly to include any technology and/or software created to address…

On 13 July the financial services industry hit a significant milestone as it officially marked six months of Open Banking in the UK. In theory, six months ago on 13 January, all nine of the UK’s major banks (CMA9) should have been ready to roll with a suite of APIs…

Open Banking is a new directive in the UK that came into force properly on 13 January 2018. Open Banking forces the UK’s nine biggest banks to open their customers’ data in a secure, standardised form, so that it can be easily shared between authorised organisations offering new services. The…