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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.
I guess it was the mention of Apple (whose glossy rosy tint
has reduced of late).
Or maybe it is that core message about designing for humans
rather than money.
In fact, I did toy with the idea of Banks designed for humans, not geeks as a title, as the
techno crowd fall into the same fervent misnomer as the branch crowd.
Equally, most get this wrong because they built their
operations for one point of emphasis – branch, call centre, internet – and now
are struggling because no longer do we deal with channels,
we deal with a human at their point of need or want or desire or thought.
This is what the data geeks are really drilling down for: to
get to the customer 24*7 as they have financial needs, wants, desires and
thoughts, and that is why today's title is Banks designed for humans by geeks.
perennial discussion of whether we need branches or not comes up again this
week. It’s a regular debate on the blog
and in the Financial Services Club, with various entries that are relevant to
contribute towards the debate:
Building upon the discussions about personalisation and virtualisation, these are important. In fact, as I’ve
mentioned before, personalised, virtualised in real-time on my mobile is
PFM-squared (does any of that last sentence make any
So then I was recently asked to address a conference with a mix of banks from all sectors, and to give examples of innovation in each of these different banking sectors.
The examples I picked had one common theme: social finance.
I was at a conference yesterday where a leading economist
talked about the global economic forecasts and specifically about the UK.
When he got to the UK, he started talking about which sectors
were expanding and succeeding the most, citing the telecommunication, transport
and logistics areas as those with the greatest opportunity.
In other words, people doing business on the internet and
ordering stuff for delivery to the home or office.
We had a great debate at the Financial
Services Club last night, picking up on that perennial debating point: do banks
In the pro-branch corner were Anthony
Thomson, co-founder of Metrobank and Ron Whatford, former Chief Experience
Officer with Lloyds Banking Group; in the anti-branch corner were Mark Mullen,
CEO of First Direct and Brett King, author of Bank 2.0 and founder of