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 Most recent Newsletter November 2021 (11.01) - https://us13.campaign-archive.com/?u=048c7ac579d549ef4cf8ee9ea&id=37b09a37ca
Past Newsletters - https://us13.campaign-archive.com/home/?u=048c7ac579d549ef4cf8ee9ea&id=d1e2a00d88
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 Fintech Ireland's Peter Oakes has again being recognised as a leading fintech consultant for 2021 following his listing in 2020.
Chambers and Partners released its Fintech Rankings for Ireland in January 2021. Peter is the only individual / boutique professional services firm (CompliReg) to be ranked along side some of Ireland's largest consulting firms. In research carried out by Chambers and Partners, Peter's clients and fintech industry experts informed the researchers that:
Peter Oakes is the Founder of fintech networks Fintech Ireland (www.fintechireland.com), Fintech UK (www.fintechuk.com) and US TechFin (www.USTechFin.com). Peter is a non-executive director of regulated fintech companies in the payments, e-money and MiFID sectors. He is founder of leading fintech consulting firm CompliReg (CompliReg.com) and is an adviser and mentor to fintech and regtech startups and scaleups. Peter is a consultant to Clark Hill in Ireland and Kerman & Co in the UK, which is supporting the Fintech UK project. See Peter's entry at Chambers & Partners here See Peter's entry alongside larger consulting brands here See details of Peter's 2020 recognition here  Fintech Ireland's Peter Oakes joined Petula Martyn on RTE's Morning Ireland Business Program to discuss competition in the payments market following news from the Competition and Consumer Protection Commission (CCPC) that it will carry out a Phase 2 investigation of proposed joint venture between AIB; BOI; PTSB and KBC to establish if the proposed transaction could lead to a substantial lessening of competition in the State. At the heart of the matter is a new industry-wide mobile payment system service, named Synch Payments DAC.
My LinkedIN post - https://www.linkedin.com/posts/peteroakes_fintech-payments-paytech-activity-6874672568347983872-Kki5 On the radio this morning (for Fintech Ireland) on Ireland's national broadcaster RTE to discuss fintech and payments against the backdrop of the Competition and Consumer Protection Commission's announcement that it is moving to a Phase 2 competition investigation of the proposed joint venture between AIB; Bank of Ireland; permanent tsb and KBC Bank Ireland. At the heart of the matter is a new industry-wide mobile payment system service, named Synch Payments DAC.
The scope of the Phase 2 investigation is "in order to establish if the proposed transaction could lead to a substantial lessening of competition". Note the word 'could'. It is not 'will', 'might likely' or 'more likely than not will'. Thus no calling the race until the horse has crossed the line or not and all parties have been heard in a fair manner.
What was great about the discussion was ability to use real examples of fintech firms which are enabling customer (consumer and business) choice and fostering competition such as Anthony Watson's The Bank of London, Anne Boden's Starling Bank, Terry Clune's and Sinead Fitzmaurice's TransferMate Global Payments, bunq (which recently acquired another great fintech Capitalflow), N26 and Revolut. One always over prepares for these discussions, but it does mean that you do a lot of useful research. For example:
If you get a chance, you should look at the minutes of the FSG 1 June meeting and the comments by the Central Bank. Its paper outlined a number of areas that related to the provision of banking services and merited deeper consideration, including:
The minutes also record that "Fintech entering the payment services market can have material implications for banks’ business models in the long-term", and that "Ireland also has a responsibility in our role as an EU/International banking sector, including for the digital infrastructure of that sector." And while fintech and banks compete/collaborate, they'll need to continually keep an eye on #Web3 for payments! On that important topic, Read more at https://www.forbes.com/sites/forbestechcouncil/2020/01/06/what-is-web-3-0/?sh=59b4fe5258df |