Metaphor: the oil tankers are trying to turn to the direction that the speed boats are going in. It seems that big banks have an enormous challenge to organise their data warehouses/lakes in order to facilitate these sorts of services. If they can do that, then they will have data assets that these new digital banks will struggle compete with.
I'm in banking. In sa though. Whilst hear him and agree on the customer experience. Think he hasn't expanded his research worldwide. I do this on a constant basis and most of what he talks about in features we had before revolut was launched. From security to rounding up the change, to categorisation of spend.. However I will say we haven't necessarily marketed it well. But i will say the fact that such banks are coming into the market and shaking it up even if it's marketing existing features better its great cos he is right it forces traditional players to maybe do a bit more.
most of the video is about convenience not control. digital banks also have even more control. lets not forget the fact that cash is anonymous and private. you can not take out your money out of the bank if it is completely digital. you get convenience with digital banking, but at the cost of privacy and freedom.
It's great, but sometimes a bit too complicated or hard to navigate, like there are too many things... different currencies, investing, crypto, etc. Also, I don't really like "new" banks that are app-only. Yes, they have a sort of an online banking now, but it's very restricted, most functions from the app are not there.
Metaphor: the oil tankers are trying to turn to the direction that the speed boats are going in.
It seems that big banks have an enormous challenge to organise their data warehouses/lakes in order to facilitate these sorts of services. If they can do that, then they will have data assets that these new digital banks will struggle compete with.
I'm in banking. In sa though. Whilst hear him and agree on the customer experience. Think he hasn't expanded his research worldwide. I do this on a constant basis and most of what he talks about in features we had before revolut was launched. From security to rounding up the change, to categorisation of spend..
However I will say we haven't necessarily marketed it well.
But i will say the fact that such banks are coming into the market and shaking it up even if it's marketing existing features better its great cos he is right it forces traditional players to maybe do a bit more.
The guy sure doesn't like his shirt
haha, I also notice that.
Indeed! :)
Drink a shot each time he pulls his t-shirt.
Definitely be calling a cab afterwards
most of the video is about convenience not control.
digital banks also have even more control. lets not forget the fact that cash is anonymous and private. you can not take out your money out of the bank if it is completely digital. you get convenience with digital banking, but at the cost of privacy and freedom.
exactly my thoughts
It's great, but sometimes a bit too complicated or hard to navigate, like there are too many things... different currencies, investing, crypto, etc.
Also, I don't really like "new" banks that are app-only. Yes, they have a sort of an online banking now, but it's very restricted, most functions from the app are not there.
Revolut is awesome.
This is phenomenal!! Amazon of banking on the horizon, retail banks 🏦 best be cashing out their chips and going home now..
Traditional bank --> Fintech --> Neo Bank.
Wtf my bank tells me everything, I just need to ask
The future is cash and traditional banking.
really poor speaker