Anthony Soohoo’s Post

One of the most difficult decisions a leader of an established business can make is to choose to be the disruption in their industry. You already have cash flow, a great team, a known brand, revenues, profit, and a share of the market. It works – why change? However, to secure longevity, one strategy is to pioneer change in your space. This often requires a complete retooling of the business, which comes at a very high price and is not for the faint-hearted. A leader in the comfortable position of running an established business might naturally be reluctant to rock the boat, much like the CEOs of Nokia, BlackBerry, and many other global businesses that now wish they had been as forward-thinking as Apple. To address this challenge, some businesses adopt strategies like those currently trending in the UK banking system, where traditional banks are acquiring the banking businesses of established grocers like Tesco and Sainsbury's. [Thanks to Dwayne Gefferie for this insight]. This approach is simpler because the businesses have similar or adjacent products and models. Essentially, the change is less disruptive, and the banks acquire new customer segments, increase their share of the customer’s wallet, expand their portfolios (assets), and generate more revenue. Ultimately, shareholders are happy. However, the real question is: Have these acquisitions shielded our business from the disruption of companies like Monzo, Starling Bank, Wise, Revolut, and other potential new entrants? Have we gained a market share that we will lose in the future? Or Have we built a moat around our business to secure our future? This, ladies and gentlemen, is the million-dollar question worth answering. Only time will tell, but for now, I leave you to your thoughts…

Insightful Analysis from Financial Times : "JPMorgan Chase's Pursuit of Discover Financial Services Financial Deal " !! 💡In mid-2021, JPMorgan Chase & Co. began looking into a deal with Discover's Pulse debit and cash machine network, which processed $285 billion in payments last year. 💼 Capital One's $35B bid in 2022, post JPMorgan's failed attempts. 🔄 JPMorgan seeks to reduce reliance on Visa and Mastercard, owning a network. 🛡️ Regulatory hurdles due to JPMorgan's size hindered potential deal. #Banking #Fintech #PaymentsIndustry #RegulatoryChallenges #BusinessOpportunity #DealMaking #ExploringOptions #NegotiationInProgress #PotentialPartnership

This is another great example of the partnership approach between SWIVEL and JPMorgan Chase & Co. and how both teams worked diligently to get the project completed on time. Thanks to Konrad Rymaszewski, FCCA and Jason O'Brien and their entire Swivel team. #payments #innovationeconomy

Big news in the banking world – Capital One is buying another bank called Discover for a whopping $35.3 billion! This means they’re going to give Visa and Mastercard, the big names in card payments, some real competition. They're hoping this will make things easier when they ask the government for approval. It's a massive deal, one of the biggest for credit cards ever! Some folks think it's hard to believe it'll all go through without a hitch because it's such a big change. But if all goes as planned, this could mean we see new ways to pay with our cards. Why does this matter for us at Cudd Realty in North Texas? Well, changes like this could mean new ways for our community's small businesses to handle money and keep up with the competition. It's all about keeping our local economy strong and helping everyone stay connected. If you want to get into the nitty-gritty of the deal, give the article a read. And if all this talk about finance has got you thinking about your next big move in real estate, I'm here to guide you. At Cudd Realty, we’re passionate about helping our community grow, whether it's finding a new home for a growing business or

Starling Bank has announced the appointment of Raman Bhatia as its new Group Chief Executive Officer. Bhatia will succeed John Mountain, who has been serving as interim CEO since the decision of the bank’s founder, Anne Boden, to step back from the role last year. Read more: https://lnkd.in/dvsA7KBr Will McSheehy | Sonia Rehill Champion #StarlingBank #RamanBhatia #CEO #Appointment #Fintech #DigitalBanking #Leadership #Innovation #ConsumerTech #Finance #Technology #Banking #Business #News

Nium Appoints Spencer Hanlon to Chief Operating Officer “I am proud of the growth and success we have achieved together and are now at a critical inflection point,” said Pratik Gandhi. “It has been an exciting journey navigating through complexities of growth and scale, and I am confident that the company will continue to thrive under Spencer’s leadership.” Prajit Nanu https://lnkd.in/desxxS64 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Anne Boden, the visionary founder of Starling Bank, had a journey filled with challenges, perseverance, and groundbreaking innovation. Born and raised in a small town, Anne always dreamed big. From an early age, she displayed a knack for numbers and a keen interest in finance, foreshadowing her future as a trailblazer in the banking industry. After earning her degree in Computer Science, Anne embarked on a remarkable career, working her way up the ranks in traditional #banking institutions. However, she soon grew frustrated with the outdated practices and lack of customer-centricity prevalent in the industry. Determined to create a better banking experience, Anne set out on a mission to revolutionize the way people interacted with their money. Despite facing skepticism and resistance from traditionalists, Anne remained undeterred. She believed in her vision of a digital-first bank that prioritized transparency, efficiency, and customer #empowerment. Drawing on her expertise in technology and finance, she began laying the groundwork for what would eventually become Starling Bank. The journey was far from easy. Anne encountered numerous obstacles along the way, from securing funding to navigating regulatory hurdles. Yet, with unwavering determination and a steadfast commitment to her principles, she forged ahead. She assembled a team of like-minded innovators who shared her passion for reimagining banking for the digital age. During an interview with Simon Squibb when the #purpose question was mentioned she went deeper saying that her CIO “found her" once he caught the dream, and the challenge and problem she was trying to solve. She went further and explained that her life and work are not two separate things. In fact, her life and work are one. In 2014, Anne's vision became a reality with the launch of Starling Bank, the UK's first mobile-only bank. From its inception, Starling Bank disrupted the status quo, offering intuitive digital banking solutions that put control back into the hands of consumers. Anne's relentless focus on user experience and innovation propelled Starling Bank to rapid success, earning accolades and recognition from industry peers and customers alike. Under Anne's leadership, Starling Bank continued to thrive, expanding its offerings and growing its customer base exponentially. With each milestone, Anne remained committed to her mission of democratizing finance and empowering individuals to achieve their financial goals. Today, Anne Boden's legacy as a pioneering entrepreneur and visionary leader is firmly cemented. Starling Bank stands as a testament to her audacity, #resilience, and unwavering belief in the power of innovation to drive positive change. Anne is a changemaker , demonstrating the transformative impact of daring to dream big and challenging the status quo. Here is my invitation to map out your life, and as Anne, live it with unwavering commitment. follow link for details. https://lnkd.in/eYYswnq

Our latest executive interview features Tom Bell, a member of TSG’s Board of Advisors. Tom shares his expertise on his new advisory role at TSG, significant changes in the payments industry over the past decades, and key challenges and investor trends in the fintech sector. Catch the full conversation here: https://lnkd.in/gkz98nVk     #TSG #Payments #IndustryLeaders #ExecutiveInterview

Capital One’s potential merger with Discover Financial Services is raising eyebrows, with potential implications for competition and #regulation. While Capital One may claim this is a win for consumers, regulatory hurdles and Discover’s existing #compliance challenges are casting a shadow on the deal. Here are some takeaways 👀: ⚖️ Potential compliance shift: Capital One inheriting Discover’s compliance issues could lead to stricter requirements for Merchants. 🤨 Integration uncertainty: the integration process might create confusion and disruption, impacting the Merchant compliance process. 🏪 Long-term implications: the combined entity’s market dominance may influence future regulatory landscapes, potentially impacting Merchant compliance. Stay tuned as this compliance rollercoaster picks up steam. 🎢 Read the full article ➡️ https://lnkd.in/g62UY9Tz #Payments #Paytech #Fintech #Slyce360 #Trends #Ecommerce #Fintechnews

Capital One’s planned US$35.3 billion acquisition of Discover Financial Services would combine two of the largest credit card companies, creating the most dominant US credit card firm. This deal holds the potential to significantly impact the banking and financial services (BFS) IT services market and providers. Read on to learn the looming risks and what to pay attention to. Ronak Doshi Kriti Gupta Kriti Seth Aaditya Jain Vigitesh Tewary Nitish Mittal Saumil Misra Yugal Joshi https://lnkd.in/geSktJp7