Chris Skinner's blog

Shaping the future of finance

The most hated #Fintech bingo buzzword is “disruption”

Chris Skinner Author Avatar
by

Those of you who know me, know that I hate the word channel and any adjunct that goes with it. This is because channel shows a lack of digital depth, as it’s just sticking something on top of the old architecture or lipstick on a pig if you prefer. It doesn’t work. I have other words I hate just as much, but top of the list these days is disruption. Every conference I go to either has a theme of digital disruption or a panel talking about how X is disrupting finance and banking.

  • How the blockchain is disrupting finance and banking
  • How Fintech is disrupting finance and banking
  • How mobile apps are disrupting finance and banking
  • How APIs are disrupting finance and banking

Blah, blah, blah.

I fruiting hate it.

I guess my main loathing for the word disruption is because I define it in a particular way based upon Clayton Christensen’s Innovator’s Dilemma:

Disruptive innovation describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors

That’s why I hate the word disruption, because I don’t believe Fintech, mobile apps, APIs and blockchain will displace the existing providers of banking and finance. I think it might augment, assist, adapt, innovate and fundamentally change banking and finance. That’s a given. But will it wipe out the existing providers? Will banks disappear? Absolutely not.

So can we please stop saying disrupt and talk about adaptive or innovative tech please, as I do not see any disruptive change out there today, in the definition above.

Chris Skinner Author Avatar

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...

Intelligent Money: Our Future Is Where We Do Not Think About Money, As Our Money Thinks For Us

What is the future?

Learn more

Learn more about Chris

About Chris Skinner

The Past, Present And Future Of Banking, Finance And Technology

Fintech expert Chris Skinner: countries need digital transformation to remain competitive

Join me on Linkedin

Follow Me on X!

Hire Chris Skinner for dinners, workshops and more

Learn directly from from one of the most influential people in technology, gain insights from the world's most innovative companies, and build a global network.

Chris’s latest book

Order now

Chris Skinner’s ‘Intelligent Money’ Book Launch Event

Top 50 Global Thought Leaders and Influencers on FinTech 2023

Chris Skinner
Commentator, CEO of The Finanser and best-selling author at The Finanser

Thinkers360 Thought Leader

Contact Me

Global Awards

Lifetime Achievement Award

Global 100 - 2024 Winner

Chris Skinner - Financial Markets Advisor of the Year - The Finanser - UK 2023

Best Financial Markets Advisor of the Year 2023

30 Best Regtech Blogs and Websites 2023

Kids creating the future bank | TEDxAthens

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award

TWO-TIME WINNER OF A MOM’S CHOICE GOLD AWARD!

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser