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London
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2008
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Security Payments Retail banking Start ups Covid-19

Nick's blog archive

2020 (1) 2018 (1) 2016 (1) 2014 (2) 2013 (2) 2012 (15)
Nick Ogden

Nick Ogden

Founder and Director at RTGS.global
Message Message me Posts: 47 Comments: 59
Bio I invented e-commerce in 1994 and ever since I have been passionate about business change and market transformation. With various excellent teams, I have also been fortunate to have had some success with my start-up ventures. Career History Founder of WorldPay Founder of Voice Commerce Group Founder of Cashflows Founder of VoicePay Founder of ClearBank Founder Business.co.uk Founder of RTGS.com and RTGS.Global

Blogs

Banking Strategy, Digital and Transformation

The Start

20 Apr 2020

The announcement this am that the UK Government is supporting tech startups with up to £1.2Billion is great news, and as I predicted last week, matches the existing approach used by the BCR, the Banking Competition Remedies Scheme. That scheme albeit still in its early days is showing real results amongst its fintech participants. This scheme ann...

Fintech innovation and startups

How do Fintech entrepreneurs get help?

08 Jan 2018

One interesting option is through the SETsquared Entrepreneur Programme for Tech Start-ups which has its next 2-day programme in Guildford - 1st and 2nd February 2018. SETsquared is the world's largest university based business incubator and has supported over 1,000 hi-tech start-ups to develop and raise more than £1.25bn of investment This progr

 

Negative Interest Rates - UK banks introduce plans to charge their customers

04 Feb 2016

Who could have predicted that in 2016, following the disasters of 2007-9 that the main banks in the UK would be planning for negative interest charges against their business customers. Never, absurd, I hear the cries of common sense but sadly true as many business customers are finding out today in their post. I quote "The interest rate we ...

 

Competition probe, your views count!

18 Jul 2014

Great News today! At last we are going to get some action over lack of competition and the shape of the financial services market for the future but only if we all engage. Alex Chisholm, CMA chief executive, is quoted as saying it was "vital" that the banking sector worked properly, which was why the full eighteen month investigation was ...

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Nick is Commenting on

BIS chief calls on countries to modernise legal frameworks to support CBDCs

  Augustin is spot on with his request. I have argued for a number of years that to improve Global Financial Stability needs a coordinated plan against a new model, not a domestic rehash of what we already have. Through coordinated regulatory action using modern and robust global infrastructure, that incidentally is already built, the global movement of money between commercial and central banks can be streamlined. The result would significantly improve every economy on the planet and, in my mind a very worthy prize.   

27 Sep 2023 Reply Read article

Survey suggests industry divided on CBDCs

  This result is not surprising. Whenever you innovate you get those that embrace and those that fear the impact. Part of the issue with a mixture of CBDC variants is that it needs a clear global demonstration of how a particular, say wCBDC could work. This would demonstrate its benefits, risks and issues to banks and regulators alike. The corollary is that we all now accept Swift, and the global interoperability of the Card schemes, but I wonder if a poll like this had been undertaken when the idea was proposed, what the results would have been? Anyone remember traveller or eurocheques ? Right for the time and now obsolete ?   

17 Aug 2023 Reply Read article

Bank of Canada paper casts doubt on CBDC value

  The real and immediate opportunity for CBDC is in the interbank wholesale market. Interoperability and regulated party-only ownership of wCBDC substantially removes the risk of bank insolvency and resolution. Allowing banks to own multi-jurisdictional wCBDC could reduce global financial friction. After all, Banks can own FIAT today, in any country they choose.  Perhaps an interim option to encourage and demonstrate the benefits of a global wCBDC is now required?  

14 Aug 2023 Reply Read article

Binance chief downplays CBDC threat to crypto

  Wholesale CBDC transform transactional speed and remove settlement risk completely from both cross border and domestic payment flows. Whilst there are some "operational challenges" this pale into insignificance when compared to the benefits of reducing the existing $15 trillion dollars of annual financial friction that exists in the current systems. In a time of global economic crisis, their benefits would be seen immediately.  

03 Nov 2022 Reply Read article