Does management theory work anymore?
After blogging the other day that big banks will never be replaced and they’re just playing a game of Pac-Man, I was watching this two-minute explainer of Michael Porter’s five forces from Harvard Business Review (a two-minute video): The five forces are buyers (customers), suppliers, substitutes, new entrants and existing rivals. It’s an old concept…
Why big banks get bigger (it’s all about Pac-Man)
I’ve spent a long time writing about how bad banks are with technology and digital transformation … but I’ve never said banks will be eaten by technology. So many other companies and industries are destroyed by technology, but banking is not one of them. I laugh when I read about The End of Banking, Banking…
New Research Finds Banking Industry Positive on Effects of Covid-Crisis
During the summer I teamed up with a colleague, George Ravich, to research views on the crisis amongst the financial community. We published the results in August, and here’s an update guest blog from George on the process. New Research Finds Banking Industry Positive on Effects of Covid-Crisis Chris Skinner and I set out…
The 11 P’s of Banking and 4 P’s of the Banking Mix
When I was growing up with learning management skills, one of those I focused upon was marketing and Kotler’s 4 P’s. If you’re not familiar it’s all about product, price, promotion and place. It’s something easy to remember, but then most folks are hard pushed to remember more than three things. That’s a shame as…
Neobanks battle on the path to profitability
Regular commentator and contributor Ajit Tripathi wrote a brilliant piece the other day, discussing the path to profitability for neobanks. He’s kindly allowed to share his insights here, so enjoy! Neobanks have Jobs to Be Done Abstract: Covid19 has changed the capital and market environment for neobanks and challenged the strategic assumptions underlying a #blitzscaling approach. In this article…
What’s the difference between challenger banks 2020 and challenger banks 2000?
Carl Howard asked me to look at the challenger and neobanks we discuss today and those of twenty years ago … Have you ever done a piece comparing Smile, IF and FD with latest challenger banks. The cynic (cynic moi?) in me feels intuitively there’s an interesting story there. — Carl Howard (@carlfhoward) August 18,…
Are challenger banks doing anything different?
After the last two blogs, various comments highlight other questions, with the commonest one being: will any of these new banks make a profit? The answer to that is yes. Some already are, such as Shawbrook, OakNorth, Aldermore … the ones you hear less about. Monzo, Revolut, N26 and others are more sexy because they’re…
Forget about Monzo and Starling, what about Metro Bank, Tandem, Tide, OakNorth and all the other challengers?
Someone asked me about the other challenger and neobanks after yesterday’s blog. I guess we focus upon Monzo, Starling and Revolut, because they are the front-runners. But there’s also Aldermore, Atom, Tide, Tandem, Lintel, Metro, Monese, OakNorth, Zopa and more. Well, I don’t have enough time to write about all of them and I know…
[Monzo + Starling + Revolut] – Pandemic = The End?
Over the past week or two, the neobank and challenger bank sector has been issuing financial reports. If you haven’t noticed: WHERE WERE YOU? Monzo got a particular hammering for warning that the coronavirus pandemic could impact the company as a going concern. Some argue this is just accounting and auditing speak to warn of…
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