Chris is an independent commentator on financial services. He chairs the Financial Services Club, a European networking group that enables discussion between members and regulators, practitioners and futurists. At The Finanser, he assists clients as an advisor, as well as sometimes being commissioned to write or speak on their behalf at conferences and tradeshows. He is the author of Digital Bank and ValueWeb.
A new age of finance, the ValueWeb, will diminish the role of traditional banks unless those institutions rise to the challenges of a digitally networked economy.
Bankers often are criticized for being digital dinosaurs, but there’s a valid reason for them not embracing disruptive change: customers don’t want it.
When it comes to banking relationships and attitudes towards money, Millennials resemble previous generations more than you might think.
Bankers need to plan ahead for a world in which value generation comes from services outside the financial product itself.
To build a true digital bank, institutions can either transform themselves internally or create an entirely separate entity. In either case, committed leadership is critical.
Using the term ‘omnichannel’ simply highlights the fact that most banks have failed to become digital at their core.