Someone is always wondering what the future job titles are going to be in banks. Brett King recently presented about such, and had the top five titles as: Data Scientist – the most sought-after banking job in five years, since they will be tasked to figure out “when, why, and how” consumers use bank products, using…
Another interesting debate is what drives banks’ investments in technology? For years, it’s been cost reduction, cost avoidance, regulatory requirements for change, risk management and compliance, competitive imperatives and such like. Not one of these talks about customer needs however. I’ve been a firm believer that banks rarely invest for revenue uplift and customer service. …
For some years there has been a lot of discussion about which brands consumers trust for banking. Rather than banks, protagonists assert that it’s Apple who could win, as they have the #1 brand with millennials. Alternatively it could just as easily be a Wal*Mart, Virgin, Google or someone else. For some years, I’ve joined…
So I had a meeting the other day where we started arguing about banks and what banks really are these days. The traditional view is that banks are those that offer deposit accounts and have a bank licence. They are recognised by regulators as banks, and governments oversee their activities. That view is no longer…
Throughout all my years of dealing with banks, 99% of the people I meet are downright honest, good to share a glass of wine with, people. They work hard, are customer focused and have the best intentions. Their only challenge is their management team and culture. On the one hand, some believe they are doing…
Looking at the long term, I tried to think about the effects of today's changes in the political, economic, social and technological spheres would have by 2035. Obviously, there are pure guesses and the list is only a starter for ten, but here are a few clear things that seem likely: Investment banks will not…
Presenting at a conference recently, the opening keynote began by saying: “we are living with six generations of human, who all have different tastes and needs”. Yep. In marketing speak, he classified them as: Traidtionallists (the World War II Generation); Baby boomers; Generation X; Generation Y; Millennials; and Generation C. I hadn’t heard of Generation C before,…
