Digital Bank

Dec 4, 2014

In code we trust

I mentioned in a recent blog entry how processors are replacing third parties. The aim of these upstarts is to get rid of the bank-in-the-middle by placing the processor-in-the-middle (but hopefully not the man-in-the-middle malware attack!). This lowers margins considerably as the processor is doing the work of what would previously of been hands on desks. …

Dec 3, 2014

Creating conversations of relevance that build trust, or Full Service Facebook Banking (FSFB) if you prefer

I've spent the last few days talking with relatively young banks on their digital strategies in several countries, and it's intriguing to debate and dialogue with them how they want to work. By young bank, I mean banks in markets that typically did not have banks operating in the 1980s or, if they did, they…

Dec 2, 2014

The criticality of humanity in banking digitally

One of the big challenges in discussing digital is how to get there. It's a big leap for many banks hamstring by heritage and the question is can they get there? Should they start again? Should they launch digital as a separately branded bank, rather than trying to evolve the current organisation? These are all…

Dec 1, 2014

What is a digital bank?

This question arises fairly often and I guess it’s because some people think of it as the addition of mobile apps and tablets; others believe it is creating a paperless bank; whilst others talk about a digitalisation of processes and products. We had a debate about this on Facebook during the summer when Jin Zwicky…

Nov 28, 2014

Do banks really need to change?

One of the comments that floated on the network in the last week was: banks can ignore digital. That made me sit up and take notice and so I asked the person, a banker, what they meant. Their explanation was interesting and went something like this: Banks do not need to change and adapt and,…

Nov 28, 2014

Do banks really need to change?

Nov 27, 2014

It’s a brave new world (not just for banks)

Following on from yesterday’s blog about traditional bank thinking versus digital bank views, there are three slides I use in my presentations that illustrate this big change. This is the change in banks moving from being trade focused to community focused. The first points out that banks must be in the social network, as that’s…

Nov 27, 2014

It’s a brave new world (not just for banks)

Nov 26, 2014

Take the test: does your bank think like a traditional bank or a digital bank?

One of the things that is quite clear is that, as we move into a sharing economy, the role of banks is changing. Banks historically focused upon profit and trade, but they now need to also focus upon community and dialogue. It is no longer good enough to purely focus upon commerce at the expense…