An interesting report from the BBC: Banks in the UK and across Europe could lose their best customers if they fail to make massive investments in mobile banking and marketing. Traditional 'retail' banks are most at risk, according to a survey by Deloitte Consulting, which talked to senior executives of 133 banks and insurance companies…
This post was first published on SAP for Banking Many markets are being 'disrupted' by peer-to-peer (P2P) connectivity and new open marketplaces. Think Uber for taxis and Airbnb for hotels. These are the new marketplaces for personal transport and accommodation. Some say that P2P lending is the new marketplace for financial credit. From mortgages to…
I’ve written a lot about banking not being disrupted by Fintech, no matter how much the upstarts claim. A few articles of note: How a bank should respond to 'disruption' (August 2009) Is banking being fundamentally disrupted by technology change? (September 2013) We are not being disrupted, just rearchitected (October 2014) Banks are too regulated…
I’ve been advocating for some time that banks should refresh core systems. A complete renewal of the back-end. Everyone tells me I’m an idiot for saying so. It’s impossible, stupid, naïve and impractical. OK, I hear that. I know it’s not going to be easy but, if a bank has systems built before Mark Zuckerberg…
This blog was first published on SAP for Banking, 12th August 2015. I recently found some exceptional insights into how China is leading the world of banking, as we saw the opening of digital banks WeBank and MYBank. If you are unfamiliar with these two bank titans, they both launched this year as offshoots of…
Having written a book that features in the Amazon Bank charts regularly, I’ve noticed that my companions in those charts are interesting titles. Apart from Brett King’s Bank 3.0, here are the others that regularly appear in the Top 100: Fool's Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe …
The branch discussion is a perennial favourite I know, but there’s one thing that is rarely discussed by the ‘no branch’ proponents: culture, demographics, psychographics and geographics. It’s like they say: “there will be no branches in the future, make it so”. I guess that’s because the anti-branch community are (a) over 35, (b) digital…
