This blog was first published on SAP for Banking, 26th August 2015 and is Part Two or a two-part series. Part One was published on 12th August. Will Alipay and Wechat get Amazon and Google into banking? No-one can ignore the developments taking place in China’s banking system, as their two largest internet players launched banks…
I recently had a great conversation with the head of innovation at a bank. In the middle of the conversation, we got into a discussion about how to get rid of complacency in the management team. The fact is that this bank is doing well. It’s growing its customer footprint, cross-sell ratio, account holdings, deposits…
I was recently interviewed by Emerging Markets Review just before travelling to Korea in July. The interview lasted a while, but stunned me when they produced the magazine with yours truly front page and centre. Rather than saying anything more, here's the interview which you can download as a PDF if you prefer. The global…
In part one I talked about bank systems, structures and people holding back innovation due to their legacy, and asked whether legacy structures could be migrated fast enough to keep up with the new guys? The answer to that question is yes, because banks also have legacy customers. That is why half the banks costs…
It’s interesting reflecting on my blog earlier this week from Blythe Masters speech on blockchain. She mentioned the friction between the old system that works and the new system that’s being built, and how the two have to work together. You have to migrate the old with minimum risk to the new, and the new…
Since asking a while ago who will be the Uber of banking, I’m fed up with everyone talking about the Uber of banking. For example, two headlines caught my eye this morning: Visa Invests in Stripe to Prep for the 'Uberization' of Retail; and Will Uber be the Uber of banking? Both stories are interesting, and demonstrate the…
I was sitting the other day thinking about the good old days. In the good old days, if something was big and challenging, banks would get together and create a co-operative to solve the problem. SWIFT, Visa and MasterCard were all bank created co-operatives. Admittedly, times have changed and now Visa and MasterCard are private…
So everyone’s excited about Fintech, but Fintech is nothing new. Fintech is actually pretty old. I could claim that if Fintech is about providing technology platforms to exchange finance, then that’s been around since banks first implemented technology platforms in the 1960s. In fact, I do claim that banks are Fintech companies. They are the…
