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 than have it as a…
I’ve got lots more to write about digital transformation and the things I’m learning from banks engaged in doing it but, to give you a break, I also have a couple of fantastic guest submissions which are worth sharing. Today’s share is from Simon Taylor, he of the blockchain fame from 11FS. Simon recently wrote…
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 met, customers are happy, and…
The main blog headlines are … 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…
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 from a former senior member…
Another key factor of the digital banks I’m talking to is that the customer is their primary focus. Not the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer. This is something I’ve found quite rare in most banks, as the retail customer is deemed fairly unimportant in the…
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 time shareholder return takes second…
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 time. The business people would…
The main blog headlines are … 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…
