Mr. Couchonomics

Cloud Computing and Agile Development: A Paradigm Shift for Banks (Part 3 of 3) In the final post in this series where we discuss the symbiotic relationship between cloud computing and agile development, I explore further the advantages of agile; especially after you have adopted cloud. As discussed previously, adoption of #cloudcomputing in the banking sector represents more than just a #technological upgrade—it's a fundamental shift in how banks approach their IT #infrastructure and #software development processes. While banks can certainly begin to leverage some benefits of cloud computing within their traditional development frameworks, to fully capitalize on the advantages offered by cloud technologies, a corresponding evolution in development methodologies is crucial. A shirt towards a more #agile method of delivering change (which is both constant and continuous) Here's why: ✅ Rapid #Iteration and Feedback: Agile allow for faster development cycles and more frequent releases. This enables banks to quickly test new features and gather user feedback. ✅ Improved Alignment with Business Needs: Shorter development cycles and continuous delivery allow #banks to more quickly respond to changing business requirements and market conditions. ✅ Better Utilization of #Cloud Resources and Cost Optimization: Agile approaches, particularly when combined with #DevOps practices, allow for more efficient use of cloud resources through automation, continuous integration, and continuous deployment (CI/CD) pipelines. ✅ Improved Risk Management: While it may seem counterintuitive, agile methods can actually enhance #riskmanagement in banking. Smaller, more frequent releases allow for easier identification and mitigation of issues before they become major problems. Challenges and Considerations: Lets also be honest, this shift comes with some headaches: ♨️ Regulatory Compliance: Banks must ensure that their agile processes still meet strict #regulatory requirements. This may require new approaches to documentation and auditing ♨️ #Cultural Shift: Moving from traditional to agile methodologies requires a significant cultural change, which isn’t easy for banks ♨️ Skills Gap: Agile methodologies and cloud technologies require new skillsets. Banks may need to invest heavily in #training or recruiting to build these capabilities ♨️ Legacy System Integration: Banks often have complex legacy systems. Integrating these with new cloud-based, agile-developed solutions can be challenging While banks can begin to leverage some benefits of cloud computing without changing their development methodologies, to fully realize the potential of cloud technologies, a shift towards more agile and continuous delivery methods is crucial. The most successful banks in the coming years will likely be those that can effectively combine cloud computing capabilities with agile development methodologies. This shift doesn’t require banks to be BRAVE; but just SENSIBLE!

Banking on the Cloud: Why #Agile is the New Currency in Financial #Innovation (Part 2 of 3) In this post I will to my best abilities share the obvious challenges when using a traditional development approach in a #Cloud Native environment. To better illustrate the challenges, we will use ‘Wealth Managment’ as sector 💢 Lack of #Flexibility A WM firm decides to develop a new #roboadvisory #platform using cloud technologies. They use a waterfall approach, spending months defining requirements and creating a detailed plan. However, halfway through the process, a competitor launches an #innovative feature for sustainable investing. Unfortunately with a rigid waterfall #methodology, the firm can't easily pivot to include this new feature. They're stuck with their original plan, risking launching an inferior product. 💢 Slow Time-to-Market A WM division plans to launch a new mobile app for the #HNI clients, providing real-time portfolio updates and investment opportunities. They follow A traditional dev. approach. The #development process takes several months from inception to launch. By the time the app is released, several key features have become standard in #competitor apps. The app launches with capabilities that are now considered basic, missing out on the competitive advantage it could have had with a faster time-to-market. 💢 #Underutilization of Cloud Resources A #wealthmanagement firm migrates its client portfolio management system to the cloud. They design the system based on peak usage estimates, as they would for an on-premises solution. This approach fails to leverage the cloud's elastic scaling capabilities. During off-peak hours (e.g., nights and weekends), the firm is paying for #unused capacity. An agile approach with continuous monitoring and adjustment would allow for better resource utilization, scaling up or down as needed. 💢 Difficulty in Continuous Improvement A cloud provider introduces a new AI-powered #risk assessment tool that could significantly enhance the wealth management firm's ability to tailor #investment strategies. Incorporating this new tool requires a lengthy process of requirements gathering, development, and testing, treated as a separate project. By the time it's implemented, newer and better tools may be available. 💢 Misalignment with Cloud Economics A wealth management firm develops a #data #analytics #platform for tracking market trends and client behaviors. Using a traditional approach, they provision resources for the highest anticipated load, which they expect during quarterly reporting periods. This results in significant #overprovisioning, negating one of the key economic benefits of cloud computing. Hopefully the above examples helps illustrate how traditional, non-agile approaches can significantly hinder a wealth management firm's ability to fully leverage cloud #technologies

Project Icebreaker: Another #experimental Project Focussing on Cross Border Payments being #orchestrated by Bank for International Settlements – BIS 𝐎𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞𝐬: From the attached document, Icebreaker aims to: ✨ Explore the use of #retail #CBDCs in cross-border payments ✨ Test the technical feasibility of conducting cross-border/cross-currency transactions between different DLT-based CBDC proofs of concept ✨ Identify key technical and policy choices for #centralbanks in designing retail CBDC implementations that facilitate #crossborder #payments I guess no retail CBDC would mean no need for the above‼️ 𝐏𝐫𝐨𝐛𝐥𝐞𝐦𝐬 𝐈𝐜𝐞𝐛𝐫𝐞𝐚𝐤𝐞𝐫 𝐢𝐬 𝐬𝐨𝐥𝐯𝐢𝐧𝐠 𝐚𝐫𝐞 𝐬𝐢𝐦𝐢𝐥𝐚𝐫 𝐭𝐨 𝐚𝐥𝐥 𝐨𝐭𝐡𝐞𝐫 𝐩𝐫𝐨𝐣𝐞𝐜𝐭 𝐚𝐧𝐝 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐟𝐨𝐜𝐮𝐬𝐬𝐞𝐝 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐨𝐟 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬: ✅ High costs, low speed, limited access, and insufficient #transparency in cross-border payments ✅ The need for interoperability (in this case between different Retail CBDC systems) ✅ Allowing for countries to maintain their currency #sovereignty while enabling efficient cross-border transactions 𝐓𝐡𝐞𝐢𝐫 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐢𝐧𝐯𝐨𝐥𝐯𝐞𝐬 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠: 🤔 Uses of a hub-and-spoke model to connect different CBDC systems. Apparently it allows for scaling more efficiently 🤔 Implements coordinated settlement using Hash Time Locked Contracts (#HTLC). What is HTCL is in the comments box below. 🤔 Provides an FX marketplace for competitive currency conversion. This #decoupling should increase competition and transparency 𝐇𝐨𝐰 𝐢𝐬 𝐢𝐭 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐭𝐨 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐦𝐁𝐫𝐢𝐝𝐠𝐞 𝐟𝐫𝐨𝐦 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐩𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞𝐬. 💢 Icebreaker focuses on retail CBDCs, mBridge on wholesale for international #trade 💢 While both use DLT, but with different implementations (Icebreaker: hub-and-spoke, mBridge: custom #DLT) 💢 Participants: Icebreaker involves central and commercial banks, mBridge adds a focus on trade 💢 FX handling: Icebreaker has a built-in #FX marketplace, mBridge supports FX transactions In conclusion, these projects represent different approaches to CBDC implementation, each addressing specific aspects of the financial ecosystem and cross-border payments landscape. #alliances #regulators #cooperation #blockchain

Swiftonomics: The Economic Impact of Taylor Swift Taylor Swift, the American singer-songwriter, has become a cultural and economic phenomenon. Her influence extends far beyond music, creating what #economists and media have dubbed "Swiftonomics" - the measurable economic impact of Swift's activities. The Eras Tour, Swift's ongoing concert series, exemplifies this effect. Launched in March 2023, the tour is projected to gross over $1 billion, potentially becoming the highest grossing tour in history. Its #economic ripple effect is even more striking. The Federal Reserve Bank of Philadelphia noted in its July 2023 Beige Book that Swift's concerts contributed to a surge in hotel revenue, with one hotel reporting its strongest month since the onset of the pandemic. Swift's impact on local economies is significant. For instance, her two-night stop in Seattle in July 2023 generated an estimated $40 million in #consumer spending. Similarly, her shows in Cincinnati were predicted to have a $48 million economic impact on the region. The phenomenon extends beyond concert revenues. Swift's influence on #tourism is notable, with cities experiencing increased visitor numbers coinciding with her tour dates. Furthermore, her album releases create substantial economic activity. The release of "Midnights" in October 2022 led to a surge in vinyl record sales, with 575,000 copies sold in its first week - the highest weekly sales for an album on vinyl since tracking began in 1991. #Swiftonomics also impacts unexpected sectors. Following Swift's high-profile relationship with NFL player Travis Kelce, viewership for Kansas City Chiefs games increased significantly. The October 1, 2023 game saw a 53% increase in female viewership aged 18-49 compared to the previous week. Swiftonomics demonstrates how a single artist's influence can extend far beyond entertainment, creating measurable impacts on local and national economies. As Swift's career continues to evolve, it's likely that her economic influence will remain a subject of interest for economists and industry analysts alike. It’s little wonder that Swift was named Person of the Year for 2023 by Time Magazine. https://lnkd.in/dS-C2ecV #music #concerts #swifties #taylorswift #grammyawards #couchonomics

NPS Obsession: Kaspi.kz's Customer-Centric Rocket Fuel 🎯 Discover the secret behind Kaspi.kz's meteoric rise: an unwavering focus on Net Promoter Score (NPS). CEO, Mikhail Lomtadze reveals how making NPS the company's most important KPI transformed Kaspi from a traditional bank to Kazakhstan's leading tech innovator. With 40,000 customer calls monthly and NPS scores consistently above 80, learn how Kaspi built a culture of customer obsession that drives product innovation and financial success. From e-commerce to fintech, see how this customer-first approach helped Kaspi achieve double-digit YoY revenue growth and expand into new markets. This Couchonomics with Arjun episode is a must-listen for anyone passionate about customer experience and business transformation! 📞📊🚀 #KaspiSuccess #FintechInnovation #CustomerTrust #DigitalTransformation #fintech #ecommerce #payments #digital Grab Gojek Revolut Tinkoff ⁠Gozem - Africa's Super App Rappi Paytm Kakao Corp Alipay Wechat Careem Venmo Cashapp Point Couchonomics Crunch Fintech Tuesdays Mr. Couchonomics

Crypto's infrastructure is a maze. 🥴 Investors and developers need to keep up with the latest in scalability, data use, security, and cloud networks to make right decisions. This report breaks down the basics of the crypto space, from infrastructure and DeFi to NFTs and gaming, and mentions some of the projects in each area. Here are my main takeaways: 🔶 DeFi is expanding with new products like synthetic assets, liquidity staking, and decentralised exchanges. This offer users better financial tools and opportunities. 🔶 In scalability and fairness, projects like Linea, Polygon zkEVM, and Arbitrum are working on zk-rollups and optimistic rollups to boost transaction speed and fairness. 🔶 Cloud network projects are making web-based services like storage, computing, and content delivery more decentralised and accessible. 🔶 With rising cyber threats, more projects are focusing on increasing security and privacy in blockchain networks. 🔶 Tokenising real-world assets is a big trend. It makes traditional markets more liquid and accessible. 🔶 Connectivity is super important, with cross-chain bridges and oracles helping different blockchain networks work together. 🔶 In data usability and tooling, projects are working on better data querying, indexing, and smart contract automation to make life easier for developers. Investors and developers need to understand the latest updates in these infrastructure areas to stay on top of the crypto scene. #Fintech #Crypto #Digital

Trust, Tech, and Tenacity: Kaspi.kz's Fintech Fairytale 📈 From a bank run crisis to a $26 billion market cap, Kaspi.kz's journey is nothing short of extraordinary. Join us as CEO Mikhail Lomtadze shares the pivotal moments that shaped Kaspi's remarkable transformation during our latest episode of Couchonomics with Arjun Learn how they turned skepticism into trust, built a super-app that outperforms global tech giants in user engagement, and revolutionized everything from payments to e-grocery. With an impressive YoY increase in revenue and a presence in the vast majority of Kazakhstani households, Kaspi's story is a masterclass in fintech innovation and customer-centric growth. Prepare to be inspired by this Kazakh success story! 🏦➡️📱💰 #KaspiSuccess #FintechInnovation #CustomerTrust #DigitalTransformation #fintech #ecommerce #payments #digital Grab ⁠Gojek Revolut Tinkoff Gozem - Africa's Super App Rappi ⁠Paytm Kakao Corp Alipay Wechat Careem Venmo Cashapp Point Couchonomics Crunch ⁠Fintech Tuesdays Mr. Couchonomics

Fireside 🔥 chat with Hosam Arab of Tabby during 24 Fintech on 5th September at 11.05 am on Executive - Summit Stage. Do join us for what is guaranteed to be a candid and free flowing discussion with someone who I have the utmost respect 🫡 for and consider a friend. It’s been just over 5 years when tabby was founded and I had the opportunity to become one of their first clients - together with Hosam and Daniil we were able to launch the #bnpl offering across multiple brands at the Al-Futtaim Group. We had many a conversations on all sorts of topics as we made an amazing start to the partnership (both organisations benefited greatly). It’s been a pleasure to watch their impressive growth from the sidelines these past few years and I am confident that the best is yet to come 👍👍👍 Finally, for those who might be interested, here is Hosam’s Episode when he joined me on the #couch for the kickoff of Season 2 of Couchonomics with Arjun : https://lnkd.in/d79syA8E Hope to see you all in Riyadh in a couple of weeks #fintech #futureoffinance #emfi #embeddedfinance #buynowpaylater #posfinancing #unicorn #24fintech

Superapps are taking over. Around 2.4 billion people worldwide use superapps each month. The level of convenience that superapps offer—having everything from food orders to finances in one spot—is helping them gain momentum worldwide. Read today’s edition for my in depth on the topic. I also have some updates on… 🛋️ 𝗙𝗶𝗻𝘁𝗲𝗰𝗵: Mastercard partners with fintech start-up Scale to streamline payment program launches in Africa and the Middle East 🛋️ 𝗢𝗽𝗲𝗻 𝗕𝗮𝗻𝗸𝗶𝗻𝗴: Mastercard updates its Open Banking for Lending program with Argyle, adding income and employment verification for 95% of U.S. workers. 🛋️ 𝗪𝗲𝗯𝟯: Bybit partners with Dubai's DMCC as an advisory partner to boost Web3 with a global hackathon and conference. 🛋️𝗖𝗿𝘆𝗽𝘁𝗼: Nigeria’s SEC has granted its first crypto exchange license to Quidax. 🍏 𝗪𝗼𝗿𝗸𝗽𝗹𝗮𝗰𝗲 𝗪𝗲𝗹𝗹𝗻𝗲𝘀𝘀 by Diego: How Insulin Resistance Could Harm Your Health. To our 24,014 subscribers, let’s take a look into the Superapp global trend. And if you're new, subscribe to get weekly updates of the Couchonomics Crunch. #fintech #crypto #web3 #openbanking #openfinance #embeddedfinance

SuperApp Supremacy: How Kaspi Digitized a Nation 🚀 Dive into the digital revolution of Kazakhstan with Mikhail Lomtadze, CEO of Kaspi.kz our latest guest on Couchonomics with Arjun From a traditional bank to a tech powerhouse, discover how Kaspi's SuperApp transformed everyday life for millions. With 71 monthly transactions per active consumer and a staggering 65% daily engagement rate, Kaspi isn't just an app—it's a national phenomenon. Tune in to learn how Lomtadze's vision of a one-stop digital ecosystem is reshaping fintech, e-commerce, and even government services in Central Asia. Don't miss this inspiring story of innovation, trust-building, and relentless customer focus! 🇰🇿📱💡 You can watch the first half of the episode on YouTube, but the full episode is available as an audio-only special on all podcast platforms. Links in the comments below 👇 #KaspiSuperApp #DigitalKazakhstan #FintechInnovation #TechRevolution #fintech #superapp #payments #kazakh #transformation Grab Gojek Revolut Tinkoff Gozem - Africa's Super App Rappi Paytm Kakao Corp Alipay Wechat Careem Venmo Cashapp Point Couchonomics Crunch Fintech Tuesdays Mr. Couchonomics