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I saw the CEO of Wells "beheaded" as he was drilled by U.S. Senators. Elizebeth Warning got it right. Sen. Elizabeth Warren says Wells Fargo’s CEO should be criminally investigated by the Justice Department and securities regulators over allegations that bank employees opened accounts without customer permission to meet sales quotas. Wells fired 5,500 employees but no one in senior management got the ax. The head consumer banking retired and walked out with over $100 million. She is also entitled to recieve her bonus for 2016. What's wrong with this picture. Little people get nailed; while, the rich get richer.

I am not surprised by these types of lawsuits. They are a natural extension of the high costs of delivering retail payments services. When I started this business 45 years ago the CEO of then a small paynments company (which is now a world leader) said interchange would eventually go away once the cardholder banks had a critical mass of cards. Fast forward to today -- unregulated interchange funds rewards programs and other goodies.

If banks radically transformed and modernized their legacy applications, they would free up the necessary resources to enable digital transformation. It is not easy from an HR perspective and takes a special type of executive to commit to radical change.

I think this is great. Banks and law enforcement agencies have been sharing information on the bad guys and new fraud schemes for a long time in a lot different ways. It is not anti-competitive and just makes good business sense to protect the safety and soundness of the entire system.

This is a natural consequence of changing demand and supply curves for labor. This is only the beginning of reduced demand for labor as a result of Brexit. In five years Brits will ask "where did all the good jobs, and times, go"?

I always believed that today's traditional credit scoring models and credit reporting agencies only told us one part of the story. I've always believed in cash flow analysis in terms of the ability to repay a loan. But, this is problematic in terms of the quality of the cash flow data. Now, what's left? It is a person's integrity. Just think if you could develop a character  index using unstructured data from telephone records and live feeds from Facebook and Twitter. Couple that pychometrics and then you got something really cooking.

Adoptiopn curves are always longer than what many industry experts predict. It took almost 20 years for ATMs to reach maturity. Debit card adoption was even longer. It took over 30 years to roll-out EMV globally. I can still remember my first EMV pilot in 1985. My best guess is a 20 year horizon for mobile maturity. There are just too many baby boomers that are going to live well into their nineties. This segment is most likely to keep doing things the way they have always done them. As for the subequent generations that is a completly different story. Their adoption curves will be much shorter provided there is a good "secure" value proposition. So for now I do not forsee the end of the plastic card in my lifetime.

Next up is a chip implanted in your body.

Sounds like London is doomed. Get out while the real estate prices are high.

London will see a mass exodus of good paying IT jobs in the next 5 years. Do not buy a house now in London! It may 33% less in five years.