Over the weekend, the Chief Executive of the British Banker’s Association, Anthony Browne, announced that the traditional bank branch is dead. Writing in The Sunday Telegraph, Browne states that the halcyon days of olden banking is a misnomer. It was far more difficult to deal with banks pre the digital era, as you were restricted…
It's obvious that gamification is a game changer – apologies for the pun. Gamification is huge. The games industry is bigger than the movies these days, with Call of Duty, Halo and World of Warcraft, leading the charge but we must not forget Angry Birds, Candy Crush and the range and reach of Flappy Bird….
I've just attended EBAday for the first time in a few years, and it's an interesting conference. Like a mini-SIBOS for Europe, the major focus is on regulations, specifically the Payment Services Directive II, and the bank's response. However, in order to kick things off, the EBA (Euro Bank Association, not European Bank Authority) invited…
As mentioned yesterday, banks are not sleeping ostriches but are very awake to the digital revolution. In fact, many are investing in that revolution with four incumbent banks standing out on my radar for their investments in these efforts. The first of these is Sberbank, mainly because two friends of mine are running their venture…
I find it interesting that so many commentators write about banks being head-in-the-sand ostriches, ignoring the need to close branches and being slow to innovate. I DISAGREE! Banks are slow to change, but they are not slow to innovate. Banks in many economies can see the decline in branch usage and are actively closing branches…
A question that comes up regularly is should the bank evolve to a new digital model, or does it need to bite the bullet and transform? Evolution or revolution? That’s a question that only the bank’s CEO and management team can answer, and needs to consider: the current state of the bank; its ability to…
I’ve not been surprised by disruptions in industries like music, movies, books and travel. All of these things can be digitised and have been. Music has been disrupted three times: first illegal downloads with Napster; then with legal downloads through iTunes; and now who needs downloads when you can stream with Spotify (which is why…
