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Having attended Sibos since way back when, I was sad to miss it this year. I got double-booked to be in Vegas at the Venetian to keynote with BAI RD2015. Surprisingly, I’ve been back in Vegas (why is it always Vegas, and not Las Vegas?) to speak at Money2020 just 10 days later.
Money2020 is an enigma and a phenomenon. Created by Anil Aggarwal, Simran Rekhi Aggarwal and Jon Weiner in 2011, it’s grown rapidly to become the biggest tradeshow in banking. How? Why? Now I know why. It has nothing to do with banking.
I seem to be getting more and more interviews out there, and this one was published by Octo after a recent conference in Paris where I keynoted. Many folks seem to like the interview, so I thought it worth reproducing here:
Chris Skinner interview: the future of banking Posted on 21/10/2015by Sylvain Fagnent, Stephen PERIN
This interview has been transcribed by Natalie Schmitz (Octo Technology).
S. Perin & S. Fagnent: Banks around the world. What is your perception of European banks and, for instance, digital banks? What do think about what Francisco Gonzalez, CEO of BBVA, said about “In 10 years, only 100 banks will have survived the digital wave.” And could you give us a small focus on the UK, even though your presentation already gave us some information.
I was invited to host the BAI Innovations Showcase last week, where 21 of the top solutions providers were invited to demonstrate their wares (soft and hard!). The audience voted throughout the afternoon for the firm they liked best and, lo and behold, the winner was:
Helios & WideNet Helios integrates mobile and online banking features in one app. WideNet allows financial institutions to offer a banking experience based on Helios to potential account holders. WideNet, an acquisition tool, allows direct connection with potential account holders, allowing financial institutions to have direct access to winning users away from competition.
I just attended the Global Banking Innovation Awards at the BAI Retail Delivery Show, an annual event that has gained traction and represents banks from all regions of the world. Interestingly, Poland, Spain and Turkey regularly appear, which reflects my view that these are the most innovative Euorpean countries for finance, although France got a shout out thanks to Hello Bank! as did Germany thanks to Fidor.
Asia would have more representation if more entered. I assume this is a language thing, as I was surprised there were no major players from South Korea, China, Japan or other innovative Asian markets in the finals.
Anyways, here are the 9 categories finalists and winners, for those interested (and you should be as some of these banks are really doing amazing things!).
In Boston I was honoured to be invited to deliver the keynote to my law firm sponsors, Goodwin Procter, at their third annual banking symposium. The audience comprised mainly community banks from the North East of the USA, and the discussions comprised panels debating the key issues we all deal with every day: regulation, innovation and demanding customers who needs are changing continually thanks to technology.
So I was going to write a long blog about SWIFT today, but it makes more sense to post that one tomorrow after seeing this report by Richard Meadows, a journalist for Fairfax Media who publish New Zealand's popular papers The Dominion Post and The Press, as well as the popular news website Stuff.
The write-up covers my keynote at PaymentsNZ, a two day conference here in Auckland. It pretty much hits the nail on my latest thinking.
So I just chaired a panel discussion at Eurofinance 2014. There were six statements made during the panel which I wanted to discuss on stage but, being the moderator, I couldn’t really say: “what you just said is complete balderdash my friend” (I could, but it wouldn't have been appropriate). So luckily I blog and therefore I can say it here. There are six statements made by this panel that I completely disagree with (almost):
Like a few other speakers and writers I get around a little and, this week, I had the opportunity to keynote at Dreamforce in San Francisco. Now, many of you may not have heard of or experienced Dreamforce, so I’m quickly going to share the experience with you now.
The organisers are kind enough to summarise the debate so here's a snapshot from their 12-page conference summary report (if you want more, then come to next year's meeting ;-) ... free places for Corporate Treasurers and Mid-Tier Banks):
During the Future of Money session at Sibos we looked at the bank as assembly of best of breed products and services, and suggested this was one of the possible ways in which the financial institutions can adapt their business model to deal with the disruptions in the industry.
With the 4th Finovate Europe just around the corner, we have to wonder why is this shift away from monolithic solutions not happening naturally and faster?
The Financial Services Club has partnered with Finovate Asia and Europe to offer 20% discount for any interested readers of the Finanser to attend. Finovate Asia takes place in Singapore on 14th November 2013 and Finovate Europe in London on February 11th and 12th 2014.
I said I would move away from EFMA Week, but the brain
washing achieved a true immersion as I realised there’s one last bit that was
missed: EFMA’s Research.
A lot of good insights came from the week through the
various study presentations, with EFMA performing multiple research from
insurance to banking to payments. As Cap Gemini sponsor all of them, the embedded links gives you free
access to everything.
At this year's International Payments Summit (IPS), there were discussions of many areas including social media, mobile, cloud, regulations and innovations. These have all been summarised in a wonderfully short overview document available to paying attendees.
However, given my interest in SEPA and the fact that we are just closing our fourth annual survey into its impact (have you taken part yet? if not, click here as it closes this Friday!), I felt compelled to extract the IPS summary of the SEPA debate at the conference and replicate here.
There's a theme that keeps cropping up at most conferences I attend around the remodelling
It came up again today in a discussion about data leverage
at the Asian Banker Summit, and it occurred to me again recently, when I chaired the future focused day at IPS 2013.
The theme is how do you turn a vertically integrated
business that owns the customer process end-to-end and organises itself around
products and channels, into a horizontally structured business that wants to
provide functionality to the customer at their point of need and organises
themselves around the customer’s data.
That’s a long sentence and, for those who get this, it will
make perfect sense.
This is why I wouldn’t bother writing anything further, except
that this is so fundamental to the dialogue we’re having that I feel the need
to break it down step-by-step.
As mentioned yesterday, I introduced a discussion about Fixing Our Banks this week, alongside a
distinguished panel comprising:
Charles Middleton, Managing Director of Triodos
Seamus Gillen, Policy Director with the
Institute of Chartered Secretaries and Administrators (ICSA);
Dominic Hook, National Officer for Finance and
Legal with the Unite union;
James Daley, Head of Money Content with the
Which? Consumer’s Association; and
Andrew Chambers, Professor of Internal Auditing
at London South Bank University.
It was an interesting dialogue covering bank, shareholder,
employee, customer and auditor’s views of how to fix the banking system.
Charles began with a discussion of many of the issues in the
industry: bonuses, trust, casino capitalism, risk and more. He talked a little about how the bonus culture
arose, as partners who risked personal capital moved to firms with no risk