The Future Bank is Faceless
Chair:
- Chris Skinner, Fintech Power 50 Influencer, Author, Speaker & Troublemaker
Panelists:
- Philipp Pointner, CPO, Jumio
- Drew Graham, Digital, Barclays
- Vilve Vene, CEO, Modularbank
- David Keene, CMO, Funding Options
In recent years, established banks have invested millions on winning customer loyalty with new digital offerings and easier ways of banking. They have digitally transformed themselves in order to be more accessible and closer to their customers.
Digital payments and loans today are increasingly taken for granted. The expectation, especially amongst younger generations, is that they are seamless and protected. People do not actually care who is processing their payments anymore - as long as the provider is secure, offers the most cost-effective rate and is regulated.
After all these years of focussing resources on winning over their customers, banks are headed for a U-turn. Rather than continue investing in individual customer relationships, banks are much better placed to use their resources to improve their platforms and services and build relationships with retailers, service providers and other customer-facing institutions who in turn will promote their banking services.
With resources freed up to focus on what banks do best, they can achieve competitive advantage not only through improving the speed, security and quality of their IT platforms, but also innovating in the way their platforms and services can be used to offer daring, new, easier and more seamless ways of banking.