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October 20, 2011


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Frank Moerdijk

An interesting 'application' of the ideas of Treacy to banks. A slight nuanciation on the lack of customer intimacy. Elaborating on the statement "Banks are masters in privatizing gains and socializing losses" (derived from Martin Wolf, Financial Times) there seems to be a focus on the customer but primairily in bad times.


Ergo the need (or desirability of a connected but distributed "financial stack" where each element in the stack focuses on being excellent at that aspect. The key success factors for those working on the "presentation layer" (ie customer interface) are radically different that those needed to run a core payments infrastructure for instance... cf http://www.parkparadigm.com/2011/01/15/lift11-re-inventing-financial-services-join-us/

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