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Digital Bank

Why dumb old banks can’t compete

Now that’s a contentious title for a blog, but purposefully so. Old banks can compete in the new world if they’re smart … it’s just that so many of them are dumb. Dumb with data, as I’ve blogged before. To illustrate this, I have three examples. The first is that …

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Banks are product not customer focused

I walked into a grocer’s store the other day. The store was resplendent with fruits of all colours and continents. There were red, yellow and green peppers; carrots, courgettes and cauliflowers; oranges, apples and bananas of both large and small; watermelons, honey melons and mangoes; green grapes, red grapes and …

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Are challenger banks winning or losing?

I don’t get The Financial Times editorials these days. Last month, they published a ridiculous article about challenger banks eating the banker’s lunch – which I covered here as being the crumbs off the table of the banker’s lunch – and this month, they publish a totally contrary view that the …

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The Purpose-Driven Bank

Building on my recent updates on sustainable finance and such like, it is interesting the word purpose consistently appears throughout the sub-text. Banks need a sense of purpose to attract talent; banks need to shift from shareholder focus to purpose focus; banks must no longer be socially useless but socially useful, …

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The two big issues bank CEOs have with FinTech

For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us. On the first point, it’s quite clear that FinTech start-ups are being valued on potential and …

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All we are saying, is give us a chance

One of the key attributes of many of the firms I’ve talked to about doing digital transformation is that there are lay-offs but, whenever possible, these banks support people to change careers. Sure, there may be significant lay-offs if it is a heavily branch oriented bank as getting rid of …

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We just haven’t got a clue what to do!

I was talking with a CXO of a bank. They are actively engaged in ‘going digital’, but she was sharing with me that the bank’s executive team had no idea what going digital means. Being brutally honest, she told me she had no idea what it means either. I was …

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The economics of the network

I often talk about the business model of a bank (or any business) being made up of three major parts: A back office that manufactures the product and administers the service; A middle office where the infrastructure is built to connect the back and front office; and A front office …

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