To those who know Technology – Or better to those who don’t. Many banks are aware that digitization will fundamentally change the business model. But just a few know how. In other words why could students just drop out of University to start Loot or Monzo? Successful digital banks or fintech are technologists.
I meet a lot of senior executive teams of large banks. Some are visionary, many are committed and a large number understand that life is changing. Few understand how.