“Our intuition about the future is linear. But the reality of information technology is exponential, and that makes a profound difference. If I take 30 steps linearly, I get to 30. If I take 30 steps exponentially, I get to a billion.” —Ray Kurzweil, author, computer scientist, inventor and futurist Without doubt, today’s exponential rate of Read More
On this episode of the BAI Banking Strategies podcast, we talk with British banking veteran Anne Boden, the founder of Starling Bank, the first mobile-only banking platform in the U.K. Boden shares what led her to leave the traditional banking world and how she sees the nimbleness of fintech companies leading to new opportunities for challenger banks. Read More
According to a recent Innovation Management post, Are Corporate Innovation Centers Too Big To Fail?, the number of such centers or labs across the globe jumped from 301 to 456 over the course of the 15 months ending October 2016. This 60 percent-plus increase reflects efforts by companies across all sectors, including financial services, to take on Read More
On this episode of the BAI Banking Strategies podcast, we talk with Conny Dorrestijn , CEO of Shiraz Partners and based in the Netherlands. Conny talks about Europe's instant payments landscape, and how banking innovation leaders are divided into three categories: optimizers, transformers and disruptors. Conny recently authored an article, Five characteristics to look for in your Fintech Read More
Again and again, banks have been warned: FinTech startups will disrupt established financial service organizations and steal business, customers and profits. One analysis predicts that 60 percent of traditional banks’ profits and 40 percent of revenue could disappear by 2025. Another report claims that, in the lending arena, more than one-third of revenues are at risk if Read More
Three-D avatars. Machines armed with artificial intelligence. Robots, even. All of these, forecasters predict, will take over bank branches in the future. But it won’t be a hostile takeover, let alone one where humans are relegated to second-class status. In fact, bank employees will see their roles expand, allowing increased flexibility to take services to customers in Read More
Amid the smoky aroma of fresh-roasted coffee and the sweet scent of pastries, Scott Maykis starts his morning routine by tapping into the free Wi-Fi at the Capital One Café on Chicago’s Gold Coast. But he’s not checking into the café-style branch bank for the money. He’s not even a customer. A management consultant who works nearby, Read More
Community banks need to innovate. Most of us accept that. Too much is changing around us; too many other players are jumping on our turf. Regulators seem out to strangle us. And customers demand more and more. Community banks need to be strategic and tactical about innovation. Innovation should be driven by corporate strategy. It should be carried out as Read More
There’s no doubt: Technology innovation—and Application Programming Interfaces (APIs) in particular—are transforming how we connect, bank and pay. Except for digital currencies and non-bank blockchains such as bitcoin, we can safely say that banking and payments are truly changing from a customer experience perspective. To be sure, tackling true business model changes is complex. Factors such as Read More
Where other evangelists of corporate change listen to the likes of statisticians and pundits, Josh Linkner hears music—literally. Before he became one of the nation’s leading speakers on innovation, he learned the art of jazz improvisation, earning a degree in jazz guitar at Berklee College of Music. And boy, can Linkner play. A four-time tech entrepreneur, serving Read More
