Latest opinions that Graham Seel has shared on Finextra

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Graham Seel

Principal Consultant

BankTech Consulting

Member since

17 Apr 2015

Location

Concord

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Graham's opinions

How Many Lawyers Does It Take to Save a FinTech?

Bank regulation is older than you think. The ancient Code of Hammurabi, which predates Moses and the Biblical legal code of the Pentateuch, includes rules for interest-bearing loans (not more than 30% interest for past due loan repayments!) Since then, review of the history of banking shows that regulation of financial services has become more an...

08 July 2016 /regulation Innovation in Financial Services

Can FinTech Companies Thrive in Community Banking?

There are over 6,000 community banks in the US. Many of these manage significant assets, and have meaningful IT budgets. Their small business and consumer customers are looking for competitive digital banking services. But community bank technology is often outdated, and difficult to enhance. What an opportunity for FinTech! There is no clear asse...

02 July 2016 /retail Innovation in Financial Services

FinTech and Core System Providers - Between Scylla and Charybdis

Community banks and Credit Unions buy most of their technology from the core banking system providers. So they aren’t terribly excited about buying directly from a FinTech. There are four main core system vendors: FIS, Fiserv, Jack Henry, and D+H. Between them they own 96% of the community banking market. This presents a rather limited set o...

24 June 2016 /wholesale Innovation in Financial Services

Booking a Taxi and Payments .R.evolution

It struck me today that a brief history of booking and paying for taxis provides quite a nice illustration of what’s happened to payments over the past 20 years or so. Here’s my experience. Evolution 1980s: hailed or booked a taxi (from my home phone or a callbox), went where I wanted to go, kept an eye on the meter, and paid with cash. 1990s: same...

11 June 2016 /payments Innovation in Financial Services

How Industrial Operations AI Can Help with Banking Risk Management

At first blush, you might think the kind of Artificial Intelligence applications that are deployed in industrial contexts would have nothing to do with financial services. Whether we’re talking manufacturing, process control, utilities administration, or any other industrial setting, what could they possibly have in common with banking? The answer...

08 June 2016 /regulation Innovation in Financial Services

Blockchain For Financial Inclusion

Like any new technology, blockchain is morally neutral. It can be used to decrease costs and inflate bank profits. It can be used to expand the reach of financial services to the world’s poorest people. It was refreshing to listen to today’s BrightTalks webinar “Blockchain: a Power for Good?” The session was moderated by Fintech consultant Diana

26 May 2016 /inclusion Financial Inclusion

5 Insider Tips on Selling Technology to Banks

In my 30+ years working in financial services, I have participated in the purchase of $100 million of financial technology. In the course of this, I interacted with many different kinds of software and hardware vendors. I was surprised at the ineptitude of most of the sales efforts. Now I consult to technology companies. So the shoe is on the ...

27 April 2016 /startups Innovation in Financial Services

Blockchain Beyond the Hype

Blockchain (distributed ledger) technology is at the height of the hype cycle. VC funding so far has exceeded $1 billion. Banks, payment and clearing systems, government agencies and service providers have also invested strongly. Many of the largest banks are exploring, experimenting, testing and even piloting blockchain applications. So will bloc...

18 April 2016 /startups Innovation in Financial Services

Digitization of Banks and Financial Health. My Soapbox

Think of this as a Hyde Park Corner moment. I get passionate about things. It drives my wife crazy. As a long-time banker and technologist, I want to see banking transformed by digitization. As a human being, I want to see relevant and affordable financial services for everyone. Sometimes these two passions have seemed to be in conflict. Banks view...

06 April 2016 /inclusion Innovation in Financial Services

Proof of Concept: Fintech’s Best Friend?

Many Fintech firms selling to banks have unrealistic expectations. Bankers are born skeptics, and banks don’t change easily. Selling to banks is hard! When it comes to Fintech firms, especially the newer ones, banks all seem to come from Missouri. “Don’t just talk about it, show me!” So that’s what a Fintech needs to be able to do. Small Fintech Co...

05 April 2016 /retail Innovation in Financial Services