Let's kill core banking...
For those who had asked for my recent speech "Let's kill core banking" please find the link to the 20 min video and transcript here. Essentially I was saying that while core banking has now clearly migrated from proprietary systems to being available on open networks, many in the industry still perpetuate the idea of "proprietary" in the way they implement core banking systems and build their business models. The level of interaction and personalisation that networks are bringing about and the nature of the beast we call "information" are introducing new rules that we must all eventually obey, from the "outside looking in." But even in the way we look at today's innovations, we show that we simply don't get it.
Transformation | Innovation | ClimateTech | GreenFin l Sustainability @ Google
8 年China is leapfrogging the rest of the world in transforming retail banking. Thanks first to government's policy push of driving up domestic consumption (read as consumer/SME credit expansion here), and, second to the innovation flood gate opened by domestic tech giants stepping into finance business.
Core Banking Treasury | Payment Cards | Consulting Program
8 年Great Headline, if we use Let's kill Legacy or Proprietary Core Banking, it will not attract our eyes. Banking is a traditional industry and Internet Finance is s combination of Fintect and Finance. Banks are transforming into more Fintect elements, while Internet Finances are approaching Banking but not yet, they target different customer segments, products and they have different core system (core banking and core finance) and business model.
Hi Emmanual, can you please re-post the video link again? Seems to be missing from above article. While I have yet to hear your talk, wondering if what you covered is similar/overlap with KevinKelly's "new rules" ideas? Thanks in advance.
internet | telco | digital | deep diving digital transformation
8 年well said, I'll add to this by suggesting that while most talk in terms of big data, agile, they should also think in terms of digital 'rules' and foundations such as externalisation, information, the platform model & the open source biz model to get the bigger picture of transformation.
Blockchain is coming....