Digital NOT Digitised | The Banking Battlefield Ft. David Brear
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- Опубліковано 25 сер 2024
- Over the last three years, we’ve kept coming back to this one diagram - the 11:FS Banking Battlefield. Incumbent banks are being attacked from all sides by fintechs, brand challengers and digital players from non-financial services backgrounds. The big banks, such as RBS, HSBC, Barclays, etc., all have two things in common: vast amounts of customers in the market, but also everything cumbersome that comes with legacy systems and their inability to deploy at speed. This shifting landscape has now left them in a vulnerable position in the market. It’s no longer good enough to shift a process from analogue to digitised. The internet has fundamentally disrupted all major industries, and banking is no different. With players like Apple and Google now entering the market, the pressure is on.
But have we actually seen what TRULY digital banking is yet?
Have we understood the virtues that will come with it?
Well, not really...
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What do you think about the state of financial services and banking? Let us know below in the comments!
I would argue the customer service could be better and more personal with a smaller fintech than a bank where the workers have little decision making power to affect catered services or lower pricing and are mired in institutional bureaucracies that limit decision making to adapt to fluid business needs.
Hello budget Vsauce!
Can’t explain it better 👍🏻👍🏻
Thanks Ibrahim. Appreciate it.
So clearly explained! Hopefully, big banks are able to make the necessary changes to keep up with the movement. I'm still learning a lot, but it seems like the idea of fintechs seeing incumbent banks as potential partners vs competitors is optimal for all parties (mostly us --the consumers).
Thanks Kim - Glad you got value from it :)
How in the world was this shot? Was it filmed through the glass? But then how are words not reflected? Is this man a master of reflective writing?
The hint is in the reversed nike logo on his jacket
Our media team has some tricks up their sleeve! Did you enjoy the video? Let us know so we can make more!
@@11FS I did very much! This was great stuff. I'd love a video like this on how the Challenger banks are built, i.e what kind of tech stacks they use, which bits are built internally vs integrated by third parties etc
Fantastic breakdown thank you
Sean Edwards no problem Sean. 👍🏼
We're glad you enjoyed it Sean! I think we're going to do a few more of these, keep your eyes peeled!
Fascinating and a really helpful presentation. Thanks @david
wilsuthers no problem. Make sure you subscribe for more coming soon 👍🏼👍🏼👍🏼
We're glad you enjoyed it!
Incredible content 🙌
Tech Talk London thanks folks. Our awesome team trying something new. :)
@david this presentation is top notch. You gotta share how you did the green pen display please :)
Limahl Mills it’s called a light board. Super cool huh?
@@davidbrear5160 Very cool indeed. Keep the content coming I thought your documentary was awesome!
Hey Vsauce micheal here, or am i?
@David Brear Could we chat further? I only want feedback. I was having trouble bringing clarity to my vision but your platform, blogs, ideologies have really been helping me along the way.
Shreedhar Amin how can I help?
@@davidbrear5160 Thanks for reaching out.
Product led Fintech in the US, do any come to mind?
Do you think it is too late to launch a Fintech in the US? I have identified a unique selling proposition and target audience, but I fear the product (not impact) could be copied by already existing players. If so, how can that be mitigated?
Should the goal be to check all three of these boxes?
The need to fundamentally change how you deliver services
The need to fundamentally change how you interact with your customer
The need to fundamentally change the business model
How might 10-15 highly motivated people with 1-5 mentors achieve the same output as 15 highly motivated/highly skilled people?
Did he just write all those like a mirror image? Or is this some video editing magic
Lateral inversion. His wedding ring is on other side, in the UK it's worn on left hand.
Magic mirror... im just happy you could read my writing :)