I’ve recently seen two blogs about issues with challenger banks N26 and Tandem. They both relate to the ways in which these new banks communicate, or not in these cases. Judith Bogner, a well-known and followed broadcaster, explains regarding N26 and the fact that her husband was locked out of his account and so he…
During the weekend I presented the trends on FinTech and Tech Fin, my two favourite subjects. I’ll update on that shortly but I was also involved in a study the organisers – The European House Ambrosetti, a leading economics think tank based in Italy – conducted before the conference. The study looked at the bank…
I find life interesting. Themes recur over and over and over again. Will big banks survive? When will we, will we be cashless? Oh when, will we, will be branchless? Can we really replace the City with a trading network of algorithms? And more. One of my favourite recurring themes is when will we have…
I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. There were some interesting reflections in that dialogue, however. I guess it falls into three categories: the way regulations used to be; the way they are; the way they…
I find it interesting when I read perspectives on FinTech, money and banking. Going digital, getting rid of branches, becoming cashless seem to be the main themes, and yet this ignores that every part of the world is different. It’s hard to go digital if the country has little infrastructure; it doesn’t make sense to…
One of the greatest challenges in digital transformation is the cultural change, that has to be led with passion and commitment from the top-down. As I’ve already mentioned, that means a Board mandate and the Chair and CEO being fully on board. But what about the C-team? And the level that reports to the C-team?…
A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I think people have got this…
I can understand why bankers can be sceptical about what technologists say. For years, technologists have been telling them that their business is threatened by technological change. They’ve been shouting that they will be disintermediated; they say that the bank must change and change fast to keep up; they argue that the bank is not…
