Gold-i CEO Tom Higgins recently claimed in Finance Magnates Magazine (“Cryptocurrency liquidity, past, present, future” article) that “the most challenging factor continues to remain the access to and quality of liquidity.”
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2017 for challenger banks is best characterised as a story of expansion and investment: BNP Paribas completed the acquisition of CompteNickel for €200m, N26 continued to impress by scaling all over Europe, Monzo raised another £71m, Revolut added £50m in funding plus applied for a banking licence, peer-to-peer lender Zopa raised £32m to fund the build-out of its banking infrastructure and Tandem acquired Harrods Bank for its deposits, customers and banking licence, a deal that GreySpark acted as a technology advisor for.
The so-called digital transformation of the ways in which investment banks operate as businesses overall began more than one decade ago. However, not all of the technology that banks needed in order to fully realise this transformation has always been readily available, and the last five-to-10 years have seen a significant rate of growth in the data processing and analytics needed to realise ideas that have been gestating for some time.