Tag: banking
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Link: BankingYoung people and their phones are shaking up banking
In such scenarios incumbents risk ending up as “dumb pipes”, holding bloated balance-sheets and originating products such as mortgages and loans that someone else sells to consumers. If they were to lose the ability to build a brand and the transaction data needed to understand their customers and cross-sell, their wares would become interchangeable. Margins…
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Link: Banking apps over banker handshakes
There is an old-timey model in which the key elements of banking are, like, having a local branch, looking customers in the eye and giving them a hearty handshake, knowing their parents, etc. But in modern banking the importance of having a website and a payments app and, uh, “keeping track of customer deposits” is…
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Link: Fixing Europe’s zombie banks
Unlike America, where banks have a return on equity of 12%, Europe does not have strongly positive government-bond yields, or a pool of investment-banking profits like that on Wall Street, or a vast, integrated home market. All this is true, but European banks have been lamentably slow at cutting their costs, something which is well…
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Link: Naspers plans to spin off its Tencent stake and other holdings
Naspers, which started out as an Afrikaans newspaper group a century ago, has since gone on to invest in a host of startups, mostly in emerging markets. The runaway success of Tencent has created an enviable headache: Naspers has become too big for the Johannesburg stock exchange, where it now makes up a quarter of…
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Link: The platform play: How to operate like a tech company
One of the global leading banks created about 30 platforms. One such platform was payments, which consisted of more than 60 applications that previously had been managed independently from each other. The top team decided to bring the 300-plus IT people working on development and maintenance of payments together with the corresponding people on the…
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Link: Standard Bank contracts with AWS for mass migration to the cloud
The bank has selected AWS as its preferred cloud provider with the intention of porting its production workloads, including its customer facing platforms and strategic core banking applications to the cloud. From what I can tell talking with banks, they’re over that 2010 thing of “public cloud isn’t secure enough.” Now it’s a scramble to…
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Link: MOOvement: A track & trace system for cows
An IoT use case, for tracking cows, that actually helps out the business (in addition to the customers, the ranchers): Rabobank’s network and financial support helped mOOvement enormously, says Van de Ven. The bank has also benefited from the product. Van de Ven: “Nowadays, you can use satellite images to determine the condition of the…
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🗂 DBS banks on data to know what customers want before they themselves know
> DBS built its API platform on Pivotal Cloud Foundry, which enabled it to upgrade or update the system without any downtime, Soh said, adding that the bank’s marketplace is also built on Pivotal. Plans also are underway to migrate DBS’ mobile wallet, PayLah, to the Pivotal development platform. And some example use cases. www.zdnet.com/article/d…
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Link: Why Digital Workplace Apps Are Not Producing Great Customer Experiences
16 percent of respondents rate their digital experience offering in the top 25 percent. 26 percent rated digital banking experiences as in the bottom half of digital experiences. 49 percent rated digital government experiences in the bottom half. Original source: Why Digital Workplace Apps Are Not Producing Great Customer Experiences
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Link: Cloud Next 18 – HSBC to run business banking on Kubernetes in Google Cloud
“HSBC plans to build its all-new business banking service to run on a Kubernetes-managed container infrastructure using Google’s toolset.” Original source: Cloud Next 18 – HSBC to run business banking on Kubernetes in Google Cloud
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Link: Ride-hailing app Grab partners Maybank for mobile wallet launch
To be a little Friedman in a taxi here: when I was in Jakarta, you could see the huge banking expansion available in converting much of the country to cashless. All these merchants and buyers (people, if you will) who are purely cash based and don’t have bank accounts. And that’s just one (albeit it,…
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Link: The End of Enterprise IT, ING org. structure
“They chose to adopt an organizational structure in which small teams – ING calls them squads – accept end-to-end responsibility for a consumer-focused mission. Squads are expected to make their own decisions based on a shared purpose, the insight of their members, and rapid feedback from their work. Squads are grouped into tribes of perhaps…
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Link: The Sorry State of Digital Transformation in 2018
Organizations talk a lot about transformation, but their actions don’t always back it up: “To find out the state of digital transformation, we surveyed 1,600 business and IT decision-makers in North American and European enterprises. The answer? Sorry, I’m afraid. As you can see from the picture below, 21% of firms think their transformation is…
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Link: Shaking up Scotiabank: Three exclusive insights into CEO Brian Porter’s revolution – The Globe and Mail
“We’re in the technology business. Our product happens to be banking, but largely that’s delivered through technology.” Brain Porter, CEO, Scotiabank Original source: Shaking up Scotiabank: Three exclusive insights into CEO Brian Porter’s revolution – The Globe and Mail
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Link: Fintech Has Grown Up
“Fintech has lost its direct-to-consumer ambition. Previous editions of Finovate have seen presentations by now established brands like Fidor Bank, eToro, Kabbage, rPlan, and Scalable Capital. Most of these startups have since shifted their business model from just direct to customers – consumers or businesses – to some form of B2B2C, working with incumbents as…
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Frequent flyer programs drive billions(?!) in revenue
Delta Air Lines Inc., the world’s second-largest carrier, said it expects that its American Express partnership will yield $4 billion in revenue per year by 2021, rising by more than $300 million annually until then. Those sums translate to a very high margin of profit, Delta executives have acknowledged, but they’ve decline to specify further.…
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Link: Banking time
If time is money, you should “save” it as much as possible, which means “spending” it wisely. Check out these meaningful, brief tips. Source: Banking time
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