In topsy turvy time of banking, do we really believe that the age old trust model is convertible to the new era, or will banking culture be too late to respond?
Recent times have come to show that banking is taking steps, but it is also loosing out to BigTech's, to newcomers, to FinTechs and to it's own culture. The banker's mantra is that if the playing field were level - everyone had to face the same regulations, everyone had to share data and infrastructure the same way, etc. then the playing field would be more level. There is a less well defined hope that banks will be able to transfer the trust they have built (and there is some question as to whether this still holds, this trust), and become the trustworthy content-management-as-a-service stewards of the future. All this is well and good, but the customer may not in the end care or tune into these high level mantras - all they want is a well designed lifestyle experience. My exploration is to these topics and whether banks are going to win or whether they are already too late.
Highlighting patterns of mistakes and ways to improve innovation efforts at legacy organizations