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Banking in a zero margin world

I know I go on and on and on about Web 2.0 and social media, but I do this because these trends
illustrate a fundamental shift in the way we live.

The fact I’m blogging here every day,
downloading music and film files, connecting globally with all my friends,
family and business colleagues through my mobile, laptop, TV and iPod via
Facebook, Bebo, MySpace and Cyworld, texting and sharing my life through diggs,
flickrs and tweets, means that I’m living differently.

This is what I
talk about in workshops that look in-depth at the whole nature of how banking is
changing, and I use all of the social network stuff to illustrate
the implications.

So a group of bankers attended one of these meetings the
other day, and most came back with positive comments except one. He says,
“Chris, that was dull. You’re just talking about the internet and internet
banking. Banking is more than just the internet channel”.

I chatted with
him a bit and discovered he had got completely the wrong end of the stick.

He thought I was just talking about Web 2.0, the internet and social
networking online.

I’m not.

Read more …

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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