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Digital Bank

The CEO and Chair make digital banking work

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just …

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Digital banks have fast and regular communication

A further aspect of the digital banks I am talking with is that they have reviews all the time. Not formal reviews, but fast meetings with the business people, designers, developers and even audit and compliance all around the table. It is quick, frequent and informal unlike the old industrial …

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Don’t just bring one, bring all

Continuing my conversation about implementing digital transformation, one of the biggest issues all companies face with transformation – digital or otherwise – is bringing the people with you. Some would say that anyone who does not join the journey can leave, but that’s quite a tough stance. If you don’t …

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Synchronised swimming or football teams?

In another guest post related to industry versus digital banking Marko Wenthin, co-founder of solarisBank, sent this insight into my discussion of FinTech banks last week. Organisational behaviour – synchronised swimming versus football teams I read the post of my friend Chris today about how a FinTech bank embraces IT rather …

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Digital transformation needs a burning platform

Ever since I started working in business process re-engineering and transformation a while ago, before most millennials were born I should say, I learnt a lesson early on. Transformation will never work without a crisis point. You cannot make the whole company change if profits are good, objectives are being …

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Digital banks look more like Big Tech and vice versa

I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. People with experience at Netflix, Alibaba, Amazon and Tencent are in strong demand, especially those who can code. I always  remember the comment …

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Doing digital needs the Board’s mandate

Another key factor in building a truly digital bank is commitment. Commitment right from the top and, by the top, I don’t just mean the CEO and the leadership team, but the Board of the bank. Quite often, a digital transformation of a bank requires years of commitment during which …

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Set the people free

I’ve been grappling with what sets apart the banks that I think are truly digital from the rest, and realised the other day that it is because they have digital to the core of the bank. They don’t just think the bank has to adopt digital or do digital, they …

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The new FinTech bank

For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests. The requests would get prioritisation and be delivered in sequence over time, sometimes a very long …

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My view of 2019

So, I’ve been summarising other people’s views of the year ahead from a variety of sources, but I also wrote two outline pieces for my friends at The Banker magazine and Jim Marous’s The Financial Brand. Just to finish off my week’s blogs about this year, here’s what I wrote. From The …

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Crypto Forecasts for 2019

There has been a lot of thinking and rethinking during 2018 about blockchain, cryptocurrencies, bitcoin and everything digital currency related. I wrote about the challenges getting blockchains implemented for example, and was surprised to find myself enduing up as a network meme. The power of the pundit, ay? Last year …

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From innovation theatre to real innovation

I was listening to a great discussion about innovation (again) amongst a group of innovative bankers. As the conversation progressed, it made me reflect on a few things. In particular, how the conversation about innovation has changed over the past decade. Just before the financial crisis hit, innovation was big …

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When does digitalisation stop?

Another day and another discussion about digital transformation with a group of bankers. As the conversation progressed, several of the attendees touched on a subject in different ways but the core of what they were asking was this: when will we know we’ve done digital? I find this question quite …

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