Digital Bank

I was listening to a fascinating debate about identity authentication, and one of the speakers referenced the fact that it was only because Dutch jews registered their identities at the start of the Second World War that so many died. I had not heard about this and immediately started Googling. Sure enough 75 per cent…

I’m a firm believer that banks rarely invest to drive revenue and elevate customer service. But I recently hosted a roundtable discussion in London with Appian, a process automation platform company, where leaders from mainstream and challenger banks in the UK gathered to discuss the challenges facing financial institutions when adopting new technology. One of…

I often return to a theme: where’s my guarantee? Where’s my backup? After the failure of Silicon Valley Bank and Signature Bank during the past week, it begs the question: where’s my guarantee? Where’s my backup? After losing money on MtGox ten years ago: where’s my guarantee? Where’s my backup? With the failure of FTX and Terra-Luna: where’s…

“When you’re not working, what do you do to de-stress?” was the last question Greg Becker, CEO of Silicon Valley Bank (SVB)*, took at an investor conference on Tuesday last week. “Cycling is my advice,” he replied. Three days later he was on his bike as his bank went into receivership.  You’ve probably seen a…

Part of the reason why I started debating the point about bank branches is that there are places where you cannot find one for love or money. In many places in the UK now, customers are being forced to make an hour long round trip to get cash or pay in a cheque. Some face a…

For as long as I can remember, we have had a debate around whether, to be a retailer, you need stores? As a retail bank, do you need branches? The predictions from the early 2000’s have been that branches and stores will close. It’s certainly true that many have. I’ve blogged about this often and probably…

Yesterday, I stated that most banks will not disappear. Today, I’m in the other side of the ring and saying that most banks will disappear. They won’t disappear as banks. They will just disappear as something we think about. Banking will become invisible. The industry likes to talk about embedded banking, a term that is…

Five years ago, Gartner published a report stating that 80 percent of financial institutions would disappear by 2030. Most banks will be made irrelevant by 2030 – Gartner Within 12 years’ time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in…

I love it when there’s a case study about animal behaviours. Bearing in mind that apes are our closest relations, when scientists try experiments to see how they behave towards money, it is fascinating. This is something I’ve blogged about many times before, with a favourite example being the Capuchin monkeys who discovered that they…

I just had a new dawning, but maybe not. The realisation was that the decentralisation of everything – finance, money, government, service, chat – is all down to technology. Centralisation of everything is all down to physicality. It’s like the dichotomy between the State, which is analogue, and Society, which is now digital. This is…