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.
Despite all the talk about branch-less or cash-less banking, customers still seek out the human touch in their financial transactions.
By providing global connectivity at unparalleled speed, social networks have unleashed the power of customers to make a difference.
Established banks with large branch networks should worry about technological upstarts grabbing their high-margin businesses.
The digitization of banking, via apps and APIs, will lead to mass personalization.
Bankers make the mistake of putting technologists rather than business experts in charge of their IT governance, which is why IT doesn’t serve strategy.
When looking for models to emulate, banks are better off picking Apple rather than Google – Apple, after all, has branches.