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    Originally posted by Wombatman View Post
    Banking is probably the least complex business for automation and the application of ML and AI. Nothing fancy required. Block-chain and quantum computing waiting in the wings to finish ye off.
    Why do you say this? (Besides wanting to troll me, which is fine). I've been working in and with innovation teams from all over the world - still waiting to see a practical application of blockchain.
    "We are not Europeans. Those people on the continent are freaks."

    Comment


      Originally posted by Raoul Duke III View Post
      Why do you say this? (Besides wanting to troll me, which is fine). I've been working in and with innovation teams from all over the world - still waiting to see a practical application of blockchain.
      You're joking right? Have a look as what Nasdaq are doing with distributed ledgers and take it from there.
      Happiness is not a goal; it is a by-product. ~Eleanor Roosevelt

      Comment


        Originally posted by Theresa View Post
        As much as it is uncomfortable for a lot of people, being assertive (but not an asshole - fine line) is a sure fire way to get what you want from most companies.

        Like Raoul said, inertia must cost people so much money, similarly not wanting to be assertive and actively ask for things even if uncomfortable costs people millions too.

        See: Employment negotiations.
        See: Phone bills.
        See: Internet and TV Bills.

        I have no idea re mortgages and banks because Im a 31 year old manchild.
        Had this with those Sky cunce a couple of weeks ago.

        Rang them initially to downgrade. Knocked the bill back from €70 to €40.

        Box stopped working immediately. Took three days and about 3 hours of my time on to them to figure out.

        Got it back working but it was laggy as fuck and sky+ was gone.

        Long story short, as in over two weeks later, they wanted €120 to come out and fix it. Naturally I politely told them to go fuck themselves, that I wasn't paying.

        A talk to the manager and she comes back with the 'great news', we'll do it for €60.

        I told her to cancel my account. She got smarmy then saying that because it was over two weeks I can't cancel as I've passed the cooling off period.

        Nope says I. You've yet to provide your side of the contract, so the contract hasn't started yet. Oh, I'll get someone to ring you.

        Guy rings me a day or two later and has the balls to try upsell me a Q box. Away te fuck.

        He goes off to talk to the manager and comes back with more great news. They were gonna fix it for €25.

        'Richie' I says to him. 'If you went in to a garage and bought a car, and when you went outside to drive away in the car it wouldn't start. If the garage wanted to charge you €25 to come out and fix the car for you, what would you tell them? I'm not paying you Richie'

        'Great news, we're gonna fix that for free'



        Fuckers will walk all over you if you let them.
        Last edited by Lazare; 30-10-19, 19:34.
        I hold silver in tit for tat, and I love you for that

        Comment


          Originally posted by Wombatman View Post
          You're joking right? Have a look as what Nasdaq are doing with distributed ledgers and take it from there.
          Not joking.

          Everyone gets very excited about blockchain but practical application in banking is close to nil.
          "We are not Europeans. Those people on the continent are freaks."

          Comment


            Saw some practical applications of risk management using ML and AI last week at a conference. Obvs it was like asking guys who sell shovels if you should dig a hole, but it made sense a lot of what they were saying.
            Low fee Euro/UK money transfer, 1st transfer free through my referral
            https://transferwise.com/u/bfa0e

            Comment


              Originally posted by Raoul Duke III View Post
              Isn't this the Joan Bruton auto-enrollment thing rebadged?

              It is obviously a very sensible idea.
              If that gets up an running I'm guessing they'll start taking away some of the tax advantages?

              Sorely needed anyway, would be pretty sure that none of my 30something friends have any sort of voluntary plan.
              Last edited by Denny Crane; 30-10-19, 19:59.

              Comment


                Originally posted by Murdrum View Post
                Your job is so esoteric that I'd be inclined to say yes. I think for someone like me who has much less and more generalised experience you leave too much on the table by using a recruiter.

                Richie may disagree and is probably the one to ask but based on salaries advertised and what people I know are making in similar roles, the gap seems substantial enough so I've avoided it.

                That said, WTF do I know, I asked for X in my current role and they said "eh you can y" which was 40% increase over my ask
                I'm not paid well, I was just very out of touch as to what I could ask for.

                I'm currently interviewing at the minute though, a 1st round last night, another 1st round Tuesday and 3rd round the following Tuesday.
                Last night was a massive reach and I'd be shocked to get offered it even though it went surprisingly well but the other two I have a chance.
                Originally posted by V for Vendetta View Post
                Have you finished up or still in your current role?

                My gig is pretty niche and most jobs are via my network but recruiters are still very useful especially for more senior roles.

                Are you looking for something a bit different? If so don’t be afraid to draft up something a bit different in terms of CV and go meet the likes of Korn Ferry or Capital Markets.
                Originally posted by RichieM View Post
                Yes but you need to pick who you go to. I will be the first to admit a lot of us are not great.

                Think you still have my number, give me a shout and we can catch up. Will point you in the right direction or ask the guys who will know who is good.
                Thanks!

                hope they're going well for you Murdrum.

                Comment


                  Blockchain is a solution looking for a problem.

                  Oft quoted. Very true.

                  It is cool tech. And it will find a problem to solve. But right now... nah.
                  This may or may not be an original thought of my own.
                  All efforts were made to make this thought original but with the abundance of thoughts in the world the originality of this thought cannot be guaranteed.
                  The author is not liable for any issue arising from the platitudinous nature of this post.

                  Comment


                    Originally posted by shrapnel View Post
                    I've got a couple of neobank accounts, revolut and monzo. Not a hope in hell I'm moving my main banking with them. .
                    I couldn't agree more.

                    I know for a fact that one Neo bank actually agrees with you too!
                    This may or may not be an original thought of my own.
                    All efforts were made to make this thought original but with the abundance of thoughts in the world the originality of this thought cannot be guaranteed.
                    The author is not liable for any issue arising from the platitudinous nature of this post.

                    Comment


                      Originally posted by Raoul Duke III View Post
                      fo' sho

                      I have the valuer coming tomorrow morning. Great having a week off where you sort shit out! Easily saving 1k a year from today's activity.
                      Got shery Fitz out to value the house here about 8 months ago think was 100 quid, he came to sky stand to collect payment and I haggled him down to 80 lol
                      Mortgage dropped by a 100 month so happy days.

                      Think I only did it from recommendations here at some point.
                      Her sky-ness
                      © 5starpool

                      Comment


                        Cup games are class
                        Go big or go homeless.

                        Comment


                          Originally posted by Denny Crane View Post
                          Thanks!

                          hope they're going well for you Murdrum.
                          Thanks for that. 2nd round for a start up tomorrow after I had the 1st round on Tuesday. This will be the decider for them. <50 people in the company, great atmosphere, thoroughly enjoyed the whole experience to be honest.
                          Obviously I'll be leaving money on the table but more than willing to do provided it's not too much. I'd actually take a small pay cut over my current.

                          3rd round for another on Tuesday, which will also be the decider, it's a pity it's not the opposite way as in the(unlikely) event I'm offered both, I feel the smaller company will want an answer asap. The other has been a very prolonged process but that's standard enough.

                          As suspected the 1st rounder I had last week, I haven't heard back. I wouldn't give me the job, PCF role so pretty surprised at the opportunity but again enjoyed it.

                          Hope the search is going well

                          Comment


                            Currently drinking some Domaine Barville Chateneufe dú pape. It's good. It's really good.

                            I'm not paying thankfully.
                            I hold silver in tit for tat, and I love you for that

                            Comment


                              Originally posted by Wombatman View Post
                              It’s a good idea but the devil is in the detail. No word on what level of tax relief or so called govt contribution will apply. The straw man proposal was for less tax relief then folk paying top rate tax currently receive which was bollix.

                              The issue is the carousel of providers will lead to a lack of competition once appointed and the post retirement ARF market in Ireland is in general a poorly advised rip off so they have work to do.

                              The idea of getting people to save for the long run is clearly sensible but likely to be seen as an extra tax by some folk.
                              ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                              Comment


                                Originally posted by SatNav View Post
                                Got shery Fitz out to value the house here about 8 months ago think was 100 quid
                                Jesus... Where do you live?!

                                Comment


                                  Originally posted by KK82 View Post
                                  Jesus... Where do you live?!
                                  Portlaoise why lol
                                  Her sky-ness
                                  © 5starpool

                                  Comment


                                    Originally posted by KK82 View Post
                                    Jesus... Where do you live?!
                                    Must be Blue or Brown imo

                                    Comment


                                      On the topic of AI & ML, this is a good article on the development of AI in linguistics: https://www.newyorker.com/magazine/2...the-new-yorker
                                      Lots of paragraphs constructed by the machine throughout seamlessly blending in at times.

                                      Comment


                                        Was at the IPO over the weekend. Good craic and deffo signs poker isnt dead yet (well not here anyway)....down to last 12 in the "High Roller" and i get involved in a pretty chunky pot v a Lithuanian? guy. After floating all the way he wont piss off like i thought he would so im quite happy with the AAAAK runout. Even happier when he checks river and i know by looking at him that if i sell the shove to him well enough his confusion wont lift. Surely enough he folds dusting off 60% of his stack to much hilarity for the rest of the table.

                                        Comment


                                          Originally posted by Theresa View Post
                                          Blockchain is a solution looking for a problem.

                                          Oft quoted. Very true.

                                          It is cool tech. And it will find a problem to solve. But right now... nah.
                                          I actually know of a blockchain solution which has been built, would solve a ton of problems for the (major) industry it was built for, but hasn't been taken up by any of the players yet. Everyone's waiting for the other guys to take the leap.
                                          "I can’t find anyone who agrees with what I write or think these days, so I guess I must be getting closer to the truth." - Hunter S. Thompson

                                          Comment


                                            Turning millions into thousands

                                            Comment


                                              Originally posted by Strewelpeter View Post
                                              Want. Where is Michaels?
                                              "We are not Europeans. Those people on the continent are freaks."

                                              Comment


                                                Originally posted by Dice75 View Post
                                                Was at the IPO over the weekend. Good craic and deffo signs poker isnt dead yet (well not here anyway)....down to last 12 in the "High Roller" and i get involved in a pretty chunky pot v a Lithuanian? guy. After floating all the way he wont piss off like i thought he would so im quite happy with the AAAAK runout. Even happier when he checks river and i know by looking at him that if i sell the shove to him well enough his confusion wont lift. Surely enough he folds dusting off 60% of his stack to much hilarity for the rest of the table.
                                                Might have posted about it here at the time but I got into bother for doing something similar in a nuts on the board hand in a small club where I wasn't a reg. The table made sure the other guy called which he might or might not have needed the help with but then I got a bollocking for bumping the rake and there was then confusion over whether chopped pots should be raked when they are bet to the river. Can't even remember how that was ruled on tbh.
                                                Turning millions into thousands

                                                Comment


                                                  Somewhere in deepest Southside
                                                  Turning millions into thousands

                                                  Comment


                                                    Originally posted by Theresa View Post
                                                    Blockchain is a solution looking for a problem.

                                                    Oft quoted. Very true.

                                                    It is cool tech. And it will find a problem to solve. But right now... nah.
                                                    Which is exactly what I hear and see.

                                                    The most stressed man in our building is a buddy of mine who was given a 7-figure sum last October and told to have a Blockchain MVP up and running by December this year.
                                                    "We are not Europeans. Those people on the continent are freaks."

                                                    Comment


                                                      Originally posted by Strewelpeter View Post
                                                      Somewhere in deepest Southside
                                                      Jayzis. I'll stick to Howth so.
                                                      "We are not Europeans. Those people on the continent are freaks."

                                                      Comment


                                                        Originally posted by Theresa View Post
                                                        I couldn't agree more.

                                                        I know for a fact that one Neo bank actually agrees with you too!
                                                        I use revolut daily. It's replaced my main bank card (due to ptsb not integrating google pay).
                                                        It's a ridiculously handy service but I struggle to see where their profit comes from, if they exist they must be very thin
                                                        People say I should be more humble I hope they understand, they don't listen when you mumble
                                                        Get a shiny metal Revolut card! And a free tenner!
                                                        https://revolut.com/referral/jamesb8!G10D21

                                                        Comment


                                                          Originally posted by Lazare View Post
                                                          Currently drinking some Domaine Barville Chateneufe dú pape. It's good. It's really good.

                                                          I'm not paying thankfully.
                                                          Hope u had the steak
                                                          People say I should be more humble I hope they understand, they don't listen when you mumble
                                                          Get a shiny metal Revolut card! And a free tenner!
                                                          https://revolut.com/referral/jamesb8!G10D21

                                                          Comment


                                                            Originally posted by Strewelpeter View Post
                                                            Might have posted about it here at the time but I got into bother for doing something similar in a nuts on the board hand in a small club where I wasn't a reg. The table made sure the other guy called which he might or might not have needed the help with but then I got a bollocking for bumping the rake and there was then confusion over whether chopped pots should be raked when they are bet to the river. Can't even remember how that was ruled on tbh.
                                                            If anyone at the table had informed him he had the nuts id have throttled them. Pretty sure Andy Black was trying with his eyes beside me. Anyway he still didnt understand after multiple explainations for about 20 mins after!!

                                                            Comment


                                                              Strewel's pic somehow led me to an article on how to deshell langoustines.

                                                              I love them but the process of deshelling always makes it seem like effort >>> reward. Don't feel the same about crabs, although I do appreciate the effort of a dressed crab.
                                                              "We are not Europeans. Those people on the continent are freaks."

                                                              Comment


                                                                Wasn't there an identical situation 10+ years ago (nuts on the board, all-in, fold) with someone from here and a pro-rugby player? Pity old BBV thread is gone.

                                                                Comment


                                                                  Originally posted by Raoul Duke III View Post
                                                                  Strewel's pic somehow led me to an article on how to deshell langoustines.

                                                                  I love them but the process of deshelling always makes it seem like effort >>> reward. Don't feel the same about crabs, although I do appreciate the effort of a dressed crab.
                                                                  I cant understand why they dont give you disposable gloves, rather then a 2'sq lemon scented towelette, same goes for wings.
                                                                  This too shall pass.

                                                                  Comment


                                                                    Michaels of Mount Merrion Confirmed Delish. Seen picture on twitter of their seafood platter and hopped on over a few Sundays ago. No need for a Menu, just give us one of those fine fellows we saw on the internet and a glass of decent white Thank you Please.
                                                                    Low fee Euro/UK money transfer, 1st transfer free through my referral
                                                                    https://transferwise.com/u/bfa0e

                                                                    Comment


                                                                      Originally posted by ArmaniJeans View Post
                                                                      Wasn't there an identical situation 10+ years ago (nuts on the board, all-in, fold) with someone from here and a pro-rugby player? Pity old BBV thread is gone.
                                                                      Pretty sure our resident SatNav folded it before. Could even have been to an ipber to make it worse
                                                                      Redbet at the Dublin Poker Invasion FTW

                                                                      Comment


                                                                        Originally posted by The Aul Switcharoo View Post
                                                                        Pretty sure our resident SatNav folded it before. Could even have been to an ipber to make it worse
                                                                        SatNav folding to NicNicNic I think

                                                                        Comment


                                                                          Originally posted by KevIRL View Post
                                                                          SatNav folding to NicNicNic I think
                                                                          Almost the 8th anniversary of same



                                                                          Originally posted by KevIRL
                                                                          Hand involving Boylepoker Pro Nicky power in the first level

                                                                          The board reads 6666A with about 400 in the pot, Nicky shoves his 30K stack and gets the other 2 players (one of which is the SatNav) to fold
                                                                          At the 2011 JPPoker.ie Mini-WSOP, Michelle Gavigan talks to Breifne Earley about folding the nuts on the river. With the board reading 6666A, Boylepoker.com ...

                                                                          Comment


                                                                            Originally posted by DeadParrot View Post
                                                                            I use revolut daily. It's replaced my main bank card (due to ptsb not integrating google pay).
                                                                            It's a ridiculously handy service but I struggle to see where their profit comes from, if they exist they must be very thin
                                                                            I use KBC for a zero free current a/c and credit card. Plenty of months I get the €10 max cashback on my credit card (1% on groceries/online purchases). Both cards work on google pay. Still with PTSB with joint a/c for mortgage.

                                                                            I use Revlout for all my amazon and non-euro spend. Although the split bill option has been excellent on recent trips abroad. I probably won't commit 100% to Revolut until they get the EU deposit protection fully implemented. Too many stories of customers with accounts frozen and poor security/compliance practices for me.

                                                                            Comment


                                                                              Whos got the best tried and tested chowder recipe in the land, that theyd like to share with me?
                                                                              airport, lol

                                                                              Comment


                                                                                ^ Revolut said recently that their average customer balance is 1k, which sounds both impossible, and insane.

                                                                                N26 is just a better alround product than Revolut.

                                                                                Comment


                                                                                  Jose shows us how to do it.

                                                                                  "And then the orgasm starts"
                                                                                  "We are not Europeans. Those people on the continent are freaks."

                                                                                  Comment


                                                                                    Originally posted by KevIRL View Post
                                                                                    SatNav folding to NicNicNic I think
                                                                                    I was only learning
                                                                                    Her sky-ness
                                                                                    © 5starpool

                                                                                    Comment


                                                                                      Originally posted by Denny Crane View Post
                                                                                      ^ Revolut said recently that their average customer balance is 1k, which sounds both impossible, and insane.

                                                                                      N26 is just a better alround product than Revolut.
                                                                                      Their customer service for a company that holds people money is outrageously bad, Revolut that is
                                                                                      airport, lol

                                                                                      Comment


                                                                                        Originally posted by eamonhonda View Post
                                                                                        Their customer service for a company that holds people money is outrageously bad, Revolut that is
                                                                                        That's probably the least of your worries.
                                                                                        "We are not Europeans. Those people on the continent are freaks."

                                                                                        Comment


                                                                                          Originally posted by DeadParrot View Post
                                                                                          I use revolut daily. It's replaced my main bank card (due to ptsb not integrating google pay).
                                                                                          It's a ridiculously handy service but I struggle to see where their profit comes from, if they exist they must be very thin
                                                                                          They charge a small % for money exchanges at the weekends, it might seem like a very small amount but when they have such a big customer base they would make a nice chunk from that. I would definitely not imagine it would be enough to sustain them, but they probably have a few other things I'm unaware of.

                                                                                          I got refused for a N26 hilariously enough, so have to stick with revolut but normally have 2/3k in there with my card frozen until I want to use it.


                                                                                          P.s. Real wealth is never having to spend time with assholes. Retirement is good.
                                                                                          Go big or go homeless.

                                                                                          Comment


                                                                                            Popped into The Lighthouse yesterday afternoon to catch The Shining (never seen it in its entirety always in pop culture references) I'm sitting in the second row from the front and shortly before the movie starts somebody comes in a sits in the row in front, thinking to myself that looks like Rigger, is it Rigger, nah can't be Rigger but turns out it was Rigger.

                                                                                            He gets up mid movie for a coke and some popcorn and I contemplate moving into his seat but I'm thinking 95% sure it was Rigger but didn't want to be some loon so waited until the movie was over to say hello.

                                                                                            We decided to go and grab a coffee and catch up, was fun shooting the breeze

                                                                                            No sightings of Hotspur...
                                                                                            "you raise, i kill you" El Tren :{)

                                                                                            Comment


                                                                                              Originally posted by DeadParrot View Post
                                                                                              Hope u had the steak
                                                                                              Haha, I did. Was good. Hope you had a nice date.

                                                                                              Great running into you.
                                                                                              I hold silver in tit for tat, and I love you for that

                                                                                              Comment


                                                                                                Originally posted by coillcam View Post
                                                                                                I use KBC for a zero free current a/c and credit card. Plenty of months I get the €10 max cashback on my credit card (1% on groceries/online purchases). Both cards work on google pay. Still with PTSB with joint a/c for mortgage.

                                                                                                I use Revlout for all my amazon and non-euro spend. Although the split bill option has been excellent on recent trips abroad. I probably won't commit 100% to Revolut until they get the EU deposit protection fully implemented. Too many stories of customers with accounts frozen and poor security/compliance practices for me.
                                                                                                Been thinking of making a switch recently, fucking BOI driving me mad, their app is dogshit & they don't have Google Pay.

                                                                                                Interested to hear peoples opinions on other options? Getting married next year so will be probably looking to setup a joint account also.
                                                                                                "you raise, i kill you" El Tren :{)

                                                                                                Comment


                                                                                                  Originally posted by Denny Crane View Post
                                                                                                  ^ Revolut said recently that their average customer balance is 1k, which sounds both impossible, and insane.

                                                                                                  N26 is just a better alround product than Revolut.
                                                                                                  How so? Have Revolut and never looked into N26, but happy to be convinced. When buying a car in the North last year I briefly had €15k or so on my Revolut card, and felt a little uneasy during that 24 hour period when I considered the lack of security.


                                                                                                  Comment


                                                                                                    Originally posted by mdoug View Post
                                                                                                    They charge a small % for money exchanges at the weekends, it might seem like a very small amount but when they have such a big customer base they would make a nice chunk from that. I would definitely not imagine it would be enough to sustain them, but they probably have a few other things I'm unaware of.

                                                                                                    I got refused for a N26 hilariously enough, so have to stick with revolut but normally have 2/3k in there with my card frozen until I want to use it.


                                                                                                    P.s. Real wealth is never having to spend time with assholes. Retirement is good.
                                                                                                    I think that's more about covering their currency risk rather than trying to make money.

                                                                                                    I think their original plan was to loss make their way into a big business and sell it, but maybe they're making enough now with their added services.


                                                                                                    How so? Have Revolut and never looked into N26, but happy to be convinced. When buying a car in the North last year I briefly had €15k or so on my Revolut card, and felt a little uneasy during that 24 hour period when I considered the lack of security.
                                                                                                    It's a bank with a digital service and the same low fx fees, as opposed to a tech company trying to be a bank.

                                                                                                    Comment


                                                                                                      Revolut &cetera as entities are irrelevant, they are just are a vehicle for MasterCard to grab market share and turn the screws harder on everyone in the chain but especially on the merchants and their acquiring banks.
                                                                                                      Turning millions into thousands

                                                                                                      Comment


                                                                                                        Right here is a microcosm of the exact things neobanks are seeing.

                                                                                                        DP uses it for everything.
                                                                                                        Shraps a Luddite.
                                                                                                        They are competing with themselves N26 and Revolut, not really with bigger banks. Like Denny and DP.

                                                                                                        It's a super interesting space to look at because the premise is rock solid, that legacy banks and their legacy systems are too costly. Which they are.

                                                                                                        But money is inherently built on trust, and legacy banks "own" money.

                                                                                                        Thought experiment, if AIB and (Some Neobank) had the exact same issue, say a security breach, or someone accessing your account... who do you lose trust in more?

                                                                                                        I think the answer would be overwhelmingly (Some Neobank). They are fighting against a tide of current behaviour, habit and norm. Tough sell.

                                                                                                        That said, it can only be good for the consumer. The fact that legacy banks have started upping their digital game, and at least here, started making their actual premises modern and easy to use is a good thing.
                                                                                                        Last edited by Theresa; 31-10-19, 15:23.
                                                                                                        This may or may not be an original thought of my own.
                                                                                                        All efforts were made to make this thought original but with the abundance of thoughts in the world the originality of this thought cannot be guaranteed.
                                                                                                        The author is not liable for any issue arising from the platitudinous nature of this post.

                                                                                                        Comment


                                                                                                          "Tokyo’s mundane Halloween costume party, where folks dress up as an utterly normal and boring thing

                                                                                                          Here are my favourite costumes from the 2019 event this past weekend"

                                                                                                          Comment


                                                                                                            Originally posted by Theresa View Post
                                                                                                            Right here is a microcosm of the exact things neobanks are seeing.

                                                                                                            DP uses it for everything.
                                                                                                            Shraps a Luddite.
                                                                                                            They are competing with themselves N26 and Revolut, not really with bigger banks. Like Denny and DP.

                                                                                                            It's a super interesting space to look at because the premise is rock solid, that legacy banks and their legacy systems are too costly. Which they are.

                                                                                                            But money is inherently built on trust, and legacy banks "own" money.

                                                                                                            Thought experiment, if AIB and (Some Neobank) had the exact same issue, say a security breach, or someone accessing your account... who do you lose trust in more?

                                                                                                            I think the answer would be overwhelmingly (Some Neobank). They are fighting against a tide of current behaviour, habit and norm. Tough sell.

                                                                                                            That said, it can only be good for the consumer. The fact that legacy banks have started upping their digital game, and at least here, started making their actual premises modern and easy to use is a good thing.
                                                                                                            Banking in Ireland is circling the drain. They are all trying to pivot and become wealth managers and offer other services. The low interest rates, single service digital competitors and the compliance burden and legacy staff costs are just strangling them. Trust is limited to knowing that the Irish govt is standing behind them but also has them on a leash.

                                                                                                            The large banks with global scale will pick off the best tech and a mass consolidation will play out over the next decade imo. It will be very interesting but I can’t see plucky startups jumping to the top but large tech firms (alphabet, Amazon, Apple and Facebook) and large banks mopping up via their cheque books and their incumbency advantages. N26 and Revolut will really struggle to make a real long term independent splash.
                                                                                                            Last edited by V for Vendetta; 31-10-19, 15:41.
                                                                                                            ‘IF YOU had not committed great sins, God would not have sent a punishment like me upon you.” Genghis Khan

                                                                                                            Comment


                                                                                                              You are making a mistake if you think of Revolut as a bank, they might have a banking licence but they are not a bank.
                                                                                                              They are a card issuer providing some services that remind you of retail banking.
                                                                                                              Turning millions into thousands

                                                                                                              Comment


                                                                                                                Originally posted by tylerdurden94 View Post
                                                                                                                Getting married next year so will be probably looking to setup a joint account also.
                                                                                                                Congrats Danny and commiserations to your bride to be
                                                                                                                Turning millions into thousands

                                                                                                                Comment


                                                                                                                  Originally posted by Strewelpeter View Post
                                                                                                                  You are making a mistake if you think of Revolut as a bank, they might have a banking licence but they are not a bank.
                                                                                                                  They are a card issuer providing some services that remind you of retail banking.
                                                                                                                  Handy for FX and bank transfers that you want to happen instant than the usual 5 days
                                                                                                                  Redbet at the Dublin Poker Invasion FTW

                                                                                                                  Comment


                                                                                                                    Originally posted by Strewelpeter View Post
                                                                                                                    Congrats Danny and commiserations to your bride to be
                                                                                                                    I'll pass on the sentiment.
                                                                                                                    "you raise, i kill you" El Tren :{)

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                                                                                                                      Originally posted by Strewelpeter View Post
                                                                                                                      You are making a mistake if you think of Revolut as a bank, they might have a banking licence but they are not a bank.
                                                                                                                      They are a card issuer providing some services that remind you of retail banking.
                                                                                                                      This is the only way in to the industry for most of them though. Or at least only practical way.
                                                                                                                      This may or may not be an original thought of my own.
                                                                                                                      All efforts were made to make this thought original but with the abundance of thoughts in the world the originality of this thought cannot be guaranteed.
                                                                                                                      The author is not liable for any issue arising from the platitudinous nature of this post.

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                                                                                                                        Originally posted by Theresa View Post
                                                                                                                        Right here is a microcosm of the exact things neobanks are seeing.

                                                                                                                        DP uses it for everything.
                                                                                                                        Shraps a Luddite.
                                                                                                                        They are competing with themselves N26 and Revolut, not really with bigger banks. Like Denny and DP.

                                                                                                                        It's a super interesting space to look at because the premise is rock solid, that legacy banks and their legacy systems are too costly. Which they are.

                                                                                                                        But money is inherently built on trust, and legacy banks "own" money.

                                                                                                                        Thought experiment, if AIB and (Some Neobank) had the exact same issue, say a security breach, or someone accessing your account... who do you lose trust in more?

                                                                                                                        I think the answer would be overwhelmingly (Some Neobank). They are fighting against a tide of current behaviour, habit and norm. Tough sell.

                                                                                                                        That said, it can only be good for the consumer. The fact that legacy banks have started upping their digital game, and at least here, started making their actual premises modern and easy to use is a good thing.
                                                                                                                        Definitely not a luddite. Was one of the first on monzo and revolut and have invited countless others. I love new tech, but the big issue with these "new" banks is that it's all about growth at the detriment of everything else. Same applies to transferwise. Aml, kyc and customer service goes to absolute shite, which has happened to all 3 I've mentioned. So much so I won't use transferwise anymore cause they're fucking morons.
                                                                                                                        Monzo is now constantly in the news for exactly these reasons also with people having their money frozen for Aml issues which monzo forgot to invest in.

                                                                                                                        I'm in just not all in.

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                                                                                                                          Originally posted by Theresa View Post
                                                                                                                          This is the only way in to the industry for most of them though. Or at least only practical way.
                                                                                                                          Investors may have been sold a pitch that told them they could create a bank, its unlikely but perhaps one or two of them may even manage to in the long term but creating banks is not what they are about now. They are just marketing franchisees operating MC and Visa systems in return for a tiny slice of the action.
                                                                                                                          It's a very similar model to the mobile network brands like Tesco mobile.

                                                                                                                          Whats really interesting is how it sits in the overall strategy of the payments duopoly who along with China Union Pay are controlling the entire non cash payment space. As cash usage reduces from world economies these guys are shaving on average a bit more than 2% off every single transaction that transfers consumers funds to Merchants.
                                                                                                                          Think about that, it is an extraordinary amount of money that they are fighting to protect. The space is undergoing a lot of change and the technologies underlying these card issuers is part of the big two's strategy for growing the barriers to entry and increasing their own margins.
                                                                                                                          Turning millions into thousands

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