Coworking Bank Branches
Like coworking offices, there is a potential business model for coworking bank branches. These coworking branches would have a large working space with individual desks for each bank. This would be very similar to how airlines work in the airports. Common facilities like security would be provided by a third party for entire office. Benefits […]
Who owns Digital?
Who owns Digital in your bank? Who owns Innovation in your bank? Do they belong to a specific team? If so then, Isn’t Digital expected in each business? Isn’t innovation central to each business? Do you this structure is temporary in nature? What should be the right structure?
Open Innovation – Creating Fintech Partnership Team
When Fintechs reach out to Banks and NBFCs & they sometimes get confused with fancy designations and confusing mandates of each person. Suggestion is to create a Single Fintech Partnership Team to Interface with Fintechs / External Partners. This team should participate in external forums and should be easily contactable. The team should have participation […]
Fintech inside the Bank
Banks need to setup a “Fintechs” within their organisation to drive Digital Initiatives like API Banking, Digital apps. Hackers inside the bank will drive the change fast… Hiring entrepreneurs and giving right environment would be key for this approach. Imagine 3 teams competing for creating API Banking Layer, 2 teams creating mobile app, 4 teams […]
Building FFIs (Fintech Financial Institutions)
Small & Medium Banks and NBFCs can reduce their costs by 50 percent and increase customer base by 50% in next 36 months by driving digital initiatives. This is on top of their current Business As Usual Growth. Key initiatives for driving digital: – Get Digital Expert in the Board – CEOs to gain expertise […]
Bankers transform the bank, partners don’t
I have been working in digital transformation for nearly two decades in various roles ranging from CTO in a bank to Program Director in a Core banking provider. I have seen massive successful transformations and the key attributes of these transitions were: – Bank leadership owned these transformations and partners were involved as enablers – […]
Banks will get replaced by Fintech!!!.. oh.. ok…
What about old static core banking providers… what about old payment switch providers… old cash management providers… Haven’t seen the same push for old world platform providers… In each business event we go, there is someone bashing banks… Thanks to this push and overall skills, most banks will move ahead fast… Instead of upgrading old […]
API Based Core Banking
We are working on introducing API Based Core Banking Platform in India. Use cases for the platform are: – Old banks – Parallel digital stack to current core banking platform – New banks – End to end digital stack – NBFCs – End to end digital stack – Fintechs – End to end digital stack […]
Banks / NBFCs / Wealth Management / Insurance : Rethink your businesses
Simple reasons for changing your business model now Successful business models have been built over last hundreds of years based on: – Face to face transactions – Physical documentation – Manual / semi-automated operations – Partners in Physical world (like DSA) – Decisions by humans Business models need to be tweaked to align with newer […]