Delusions of digital transformation – what does it take to fully transform?
In a recent Forbes article, Fintech expert, Ron Shevlin, shared concerns over Banking’s ‘Delusions of Digital Transformation’. Shevlin breaks down what digital transformation really looks like and argues that it takes more than reductions in branch usage, incremental adoption of digital banking tools, and bank employees working from home. While I don’t agree with everything he says, it is certainly an interesting take on what is going on with banking right now.
Lloyds helps customers manage subscriptions
With a huge rise in subscriptions services since lockdown (ie. TV and film streaming providers, audiobook services and food boxes), Lloyds Bank has launched a new feature on its mobile banking app that helps customers manage their subscriptions easier.
A busy time for cloud partnerships
First Deutsche Bank announces it is teaming up with Google Cloud for a strategic muliti-year partnership to help redefine how the bank develops and offers its financial services. Then HSBC announces it has signed a long-term strategic cloud deal with Amazon Web Services to create a more personalised banking experience for its customers.
Spain makes branch closures
As more customers go digital in light of the impact on the Covid-19 crisis, Spain’s banks are planning to permanently close many branches across the country. It’ll be interesting to see what banks in other countries do moving forward. Will UK banks take similar steps?
Design thinking in Fintech
I love unlikely pairings and applying design principles to creating Fintech is something many may not have thought about before.
Futurist Dr Ingrid Vasiliu-Feltes invites us to disrupt our usual approach to building financial services technology.