Tag Archives: retail banking

The Neobank Revolution? Not how I see it… 

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As most of you know I led channels for Citi back in the “direct banking” days. My team in the UK bought Egg (2007) and while I didn’t have oversight of the US I did have the 35 other Geographies. I also ran online and payment services for Wachovia (3rd largest online bank at the time). I’m here at FinTech NerdCon this week and have listened to Nubank co-founder and Chime. While I congratulate their growth and their Nubanks’ progress outside the US, count me as a skeptic of their profitability (and progress) in the US. 

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Retail Banking and Stablecoins

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Friction, Float, and the Future

As a Banker, Founder and Payment Historian who has spent too long watching icebergs melt, I’ve seen many technologies promise to upend the banking industry. Most have been evolutionary, not revolutionary. But the advent of digital dollars, particularly consumer-facing stablecoins, are unique. Payments are the core of retail banking and profitability. Payments are a networked business, not just in card but in every consortium and association. As I outlined in The Power of Bank Networks, these networks are the engines that drive economies and how banks connect to the environment. For my colleagues in banking and payments, understanding how (or if) stablecoins impact payments is very important.

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Capital One’s Acquisition of Discover – Set to Reinvent Retail Banking?

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An Update on the Future of Retail Banking – April 2025 By Thomas Noyes

With the conditional approval from the OCC on April 17, 2025, Capital One’s (COF) acquisition of Discover Financial Services (DFS) marks one of the most transformative events in U.S. retail banking in over a decade. While prior large-bank deals often focused on scale, this one signals a strategic reinvention. Capital One, long admired for its technical prowess, is poised to blur the traditional boundaries between credit, savings, and checking—challenging the conventional “retail bank” construct. This merger represents not just an expansion of balance sheet or customers, but a redefinition of what banking can look like in the age of AI, embedded finance, and consumer control.

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