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This is the end of London as a world financial center. 100,000 banking  and at least another 100,000 IT jobs will be lost. I really liked London!

Make sense to me. New York people know a lot more about financial services than Silicon Valley. The technology piece is always the easiest part of a new business model. Creating the proper value position has been and is still job #1 for successful financial services. For those newly minted fintech services that going no where, check your value proposition.

I would tend to agree. The free market is a funny thing in that it is not really free. There always needs to be checks and balances to keep the bad guys honest. There are always unintended consequences. Greespan learned this the hard way. Bitcoin also learned its lesson

Banks need some outside blood to think differently to survive. But, too much outside blood could sink a bank quickly. Balance is the road to success.

This is a business model that makes sense to me as a former banker. Chase gets to control their own future without giving away the keys to the bank via  a third party for pennies on the dollar. I wish Chase much sucess.

Creating a digital bank is a mass job. There are so many unknowns, twists and turns along the journey. Deutsche can still create real value in its eventual journey by basically changing its investments criteria -- do not look back, create for the future!

Walmart makes a good point. Chip and PIN yields the lowest loss rates. So why not just do it? It is just good overall for the industry! Consumers would get used to using PIN in short order.

43% seems really high. This implies banks stand to lose a big piece of their consumer lending business. Banks won't let that help. Banks have been adaptibile over the past 40 years. Banks will always be involved in consumer lending. The big question is "how" will they participate. Will some banks evolve to more of an indirect lending model? Some may but I suspect most will make appropriate changes to ensure that they actively participate in the originating side of lending. The key issue is whether or not alternative Fintech solutions can lower originating costs. I suspect they can not.

This acquisition by MasterCard makes a lot of sense. MasterCard could become the most disruptive entity in the payments business. It enables them to hedge their existing business as they position for the next generation of payment solutions. This is clearly the most strategic acquisition in their history with potentially long lasting results.

During the 1970's the banks were the pillar of innovation. They were drowning in checks volumes and consumers were begging for loans. Hence, new payment solutions such as credit cards, ATMs and the ACH were introduced.  Fast forward to today! Banks have spent a fortune on regulatory compliance due to the great recession. Innovation has fallen by the wayside. Banks CEOs need to reverse this trend by investing in their future. Remember 99% of the Fintechs will fail.

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