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Digital Bank

Is there a digital divide in banking?

Preferred channel

So I’m just going to close off the branch debate (this time around, it comes up often) by talking a moment about demographics.  In my gut, I hate the use of demographics as, when it comes to digital, I prefer psychographics.  As a baby boomer, I feel more like a digital …

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The role of the bank branch in the digital age

JPMorgan Slide 72

I tweeted yesterday that bank branches are still important as, for many, digital only is too nerve wracking when it comes to money.  I knew it would get some pushback, and it did, but here’s the logic and how this started. We’ve just seen JPMorgan hold their investor day, where …

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The biggest banking challenge is leadership

So yesterday, I identified the three biggest challenges to banking today based upon a major dialogue on social media with the Next Bank Facebook community.  Those three barriers are regulations, legacy and culture. The three barriers are intertwined in a vicious circle.  Regulations stop banks from innovating; legacy systems stop …

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Convincing management to renew core systems

I’m often asked what I mean by a digital core and how to convince management to buy into it. What I mean by a digital core is that the bank has made itself cleansed and ready to join the new generation of fintech.  It has renewed and refreshed its core …

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How one bank changed core systems

After blogging yesterday with my regular beat to get rid of old legacy systems, I then had another thought.  Don’t get rid of them.  That is a possibility.  Maybe you don’t need to replace the core.  Maybe you just need to create a new platform that is digital and gradually …

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How one bank changed core systems

After blogging yesterday with my regular beat to get rid of old legacy systems, I then had another thought.  Don’t get rid of them.  That is a possibility.  Maybe you don’t need to replace the core.  Maybe you just need to create a new platform that is digital and gradually …

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In code we trust

P2P lending

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 …

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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 …

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