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Digital Bank

More evidence of banks waking up to the digital reformation

I have seen several banks note, and particularly two in the past week, that shows the shift of thinking as we move to the hybrid world of technology and finance.  Most talk about Fintech start-ups but these two show a different perspective. First, Derek White of Barclays talks a lot with Business Insider about blockchain and…

Will bank developments in China lead to a global banking revolution? [Part Two]

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…

China banks.jpg

How to wake up the bank

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…

Network

The state of digital, fintech and the future bank

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…

Emreging markets review1

Can new banks keep up with old banks (Part Two)?

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…

Can old banks keep up with new banks?

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…

Legacy

Banks could change, but the regulator won’t allow it

I mentioned yesterday that a bank CEO asked me the three things I would do if I were him.  My response was: create the dream, live the dream, deliver the dream.  A bit cheesy, but you need to read the context if you want to know more about the background to this. He responded by…

The three reasons banks fail to embrace digital effectively

I’ve been presenting the theme around what banks have to do to become digital for a while now, and obviously have blogged and written loads about it, and yet something still niggles in the back of my head.  I guess it’s that I’ve written some of the things down, but not all, and the thing…

Fire

Fintech attacks whilst bank CxO’s snooze

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…

Bye bye banks

Have banks made a fatal mistake with Apple Pay?

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…

PayPal

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