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.
With the information demands of the 21st century, changing bank core systems will be mandatory.
Since so many of banking’s ‘pain points’ relate to information technology, is the industry at risk of becoming just another technology shop?
New players in P2P finance and commercial crowdfunding utilize social media to leverage knowledge to improve financial returns.
In a survival-of-the-fittest financial world, banks owe their survival to regulatory barriers that keep out more efficient competitors.
Banking will be revolutionized as billions of tiny Internet-based transactions take place every second – all of them requiring aggregating, accounting, clearing and settling.
Even as Big Data emerges as a critical competitive weapon, information silos hinder the ability of banks to use it properly.