I was having a candid chat with a banking friend about life, the world and money, and he asked me a series of questions:
- How do we change culture to meet today’s fast-moving changes?
- How can we be more agile?
- How important are partnerships?
- Can we work with FinTechs?
- How will we work with them?
- Relationships: physical, digital or phygital?
- Augmenting relationships with AI
- How do we deal with AI?
- Where is money going?
- Will crypto take over from fiat?
- If a corporate treasurer believes crypto is important, what’s our response?
- Are banks still relevant?
- Why are banks relevant?
- How can banks keep relevance?
- Can regulators and banks keep up?
It just made me realise how complex the world is today.
I’ve tried to answer these questions over the past years and will continue to do so, but the big one is: do we really need banks? Bill Gates said no. I say yes, but we need different banks designed for the network of the people.
It got me thinking so no doubt I’ll bore you with it all this week.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
