Digital Bank

I sat through a soul-destroying meeting the other day. The meeting was with a C-level decision maker in a bank, and we were brainstorming. Ideas were flowing and, at the end of the ideation process, we went to see the C-level person to get his view. It wasn’t good. You can’t do that because the…

As banks embrace digital transformation, there is a high level of discomfort amongst bank staff around the change. First, they hear almost every day that artificial intelligence and machine learning will automate their jobs. They fear the future. They fear losing their job. How can you reassure them that they can participate in the change…

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world. It was very popular and made my top ten posts of 2015, and Philippe has been kind enough to let me share another of his updates. This one…

The next day, the grandson came to visit his grandfather again, and immediately returned to the conversation of yesterday. Grandson: Granddad, you know you were talking about how money and banking used to be. Well, I think it’s a lot better today. Granddad: How so, lad? Grandson: Well, a good example is that I can…

Being raised on Monty Python, an old sketch popped into my head (The Four Yorkshire Men) and led to a thought. A grandfather and grandson are at the dinner table … Grandfather: Ah, when I was a lad, life was very different. Grandson: In what way, grandad? Grandfather: Well, we used to get our milk delivered…

No, I don’t mean Attention Deficit Disorder, which would be ADD, but I mean Artificially Intelligent with Dumb Data. Now, I know I moan on and on about fragmented legacy systems, but I honestly have no idea how a bank could ever be able to compete with an Apple or Amazon, or even a Marcus…

Building on yesterday’s blog about reports that are useful, I just found another one from UK Finance (formerly the British Bankers Association) on how they see AI in banking, released last week. The report is in two parts that address what they see as the two key issues banks face in using AI: they see…

An interesting report came out this week saying that UK consumers would access mobile banking apps more often than branches in the next two years. It got covered on the BBC, Sky News and lots of other media, but I was thinking in the next two years? It just shows how far behind the curve…

I was having an interesting conversation with a guy who had joined a big bank having previously worked in Big Tech. The guy was headhunted by the bank to be a gamechanger (GC), and had been gifted the ability to do almost whatever he wanted when it came to innovation, change, ideas and so on…

Over ten years ago, I started blogging about cloud computing and financial services. Many banks dismissed the idea back then as “the regulator wouldn’t allow it”. Then the regulator did allow it in some countries, but banks were confused about the regulatory position. For example, if they use cloud services for customer data and the…