Doing Digital

Chris Skinner

Description

There has been lots of discussion of digital and open banking, banking-as-a-service, banking platforms, FinTech and TechFin and more over the past decade. This all indicates that we are in a decade of rapid cycle change that presents huge challenges and huge opportunities. Billion dollar unicorns appear rapidly, whilst internet giants achieve global domination. How are banks dealing with these changes and are any banks showing leadership? Well yes, a few are. With all the gloom merchants saying that traditional banking is doomed, a few banks have made radical moves to adapt and survive. Chris Skinner, world-leading commentator on banking and technology, has selected five of those banks-JPMorgan Chase (USA), BBVA and ING (Europe), and DBS and CMB (Asia)-to share their experiences. In detailed interviews, and with wide-ranging commentary, he has discovered the secrets of how not just adapt and survive, but how to thrive in this sea change of finance and technology. Learn the lessons of the leaders, and learn how to become a successful digital bank, by Doing Digital.

Sujets

• Banking
• Economie gestion
• Bank

Informations

• Publié par: Marshall Cavendish International
• Date de parution: 02 mars 2020
• Nombre de lectures: 0
• EAN13: 9789814893053
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

Chris Skinner is probably the most astute observer of FinTech in the world today and only Chris could get some of the world s largest digital banker leaders to talk so openly and honestly about the challenges and opportunities facing them. I don t think there is anyone on the planet with Chris s understanding of the future of banking, and unique vision of the future of FinTech. I wish Chris had written this book ten years ago and recommend that you stop what you are doing and read this book. It will transform your thinking and help you transform your business.
-Anthony Thomson Founder and Former Chairman, Metro Bank and atom bank, Co-founder and Chairman 86 400 (Australia s first bank for mobile)
Chris Skinner is one of the foremost thought leaders in digital banking. His historical knowledge of banking technology as well as his digital thought leadership make Doing Digital: Lessons from Leaders a must-read-not only for anyone in the leadership of a traditional bank or an upstart FinTech firm, but for anyone interested in how digital transformation is changing the future of commerce.
-Larry Tabb Founder and Research Chairman, TABB Group
It s about time someone wrote this book. Not the carefully worded white papers, the generic press releases or the polished conference keynotes. But an in-depth look at why banks are transforming and how they are setting about actually doing it.
-David M. Brear Group CEO at 11:FS
Banks have been at the centre of British finance through the Agricultural Revolution, the Industrial Revolution and two World Wars. But to continue to survive-and thrive-they must continuously adapt to focus on the changing needs of customers. Doing Digital faces the hard realities and highlights the challenges banks face to fundamentally shift and successfully digitally transform.
-Ashok Vaswani Global Head of Consumer Banking Payments, Barclays Bank
A digital bank should aspire to be like their BigTech peers, as Chris argues in this book. Highly elastic IT infrastructures, relentless focus on client-centric product design that leverages Big Data perspectives, and intensive investment in engineering and tech talents are all essential ingredients for the success of modern digital businesses. They serve as some of the most important guiding principles on our path to become one of the world s leading digital banks. This book is a must-read for bank leaders, especially those about to embark on their own digital transformation journeys.
-Henry Ma VP and CIO, WeBank (a division of Tencent)
Chris Skinner has been at the forefront of analyzing the intersection-collision, some might say-of technology and banking. In his daily blog, his lectures, his consulting practice, and his books, Chris sees things that others miss and helps the reader understand their significance. His latest book Doing Digital offers concrete, tactical lessons learned from CEOs and other top leaders who were among the first to grasp the full implications of the digital revolution and are transforming their banks accordingly. Told with Chris s trademark wit, Doing Digital is at heart a story of successful management of profound change and the visionary leadership that journey requires. Highly recommended.
-Tillman Bruett Global Practice Lead, Financial Services and Investment, DAI, and Former Director, United Nations Secretary-General s Task Force on Digital Financing of the Sustainable Development Goals
Chris Skinner s work resists the twin temptations to romanticize technology and to dismiss bankers as dinosaurs lumbering towards the tar pits. Chris has the historical grounding to understand the indispensable role that banking plays in advancing prosperity. He also has the imagination to see what a truly digital bank could be, and a clear-eyed understanding of what it takes to get there. Doing Digital is a valuable resource not just for bankers but for anyone interested in change management, especially when the stakes are high.
-M. Mudassar Aqil Chief Executive Officer, Telenor Bank (Pakistan)
Deeply insightful, highlighting the challenges and more importantly the opportunities our industry faces.
-Nick Ogden Serial entrepreneur, Founder of WorldPay and Executive Chairman of ClearBank
In the sea of proclamations from pundits that banks must become digital, Doing Digital stands out for its ability to prescribe specific actions banks must take, and describe what banks who are doing digital transformation well are actually doing. It s refreshing to see a book that helps instead of hypes.
-Ron Shevlin Author of Smarter Bank and The Fintech Snark Tank on Forbes
For the past ten years my role at Silicon Valley Bank has provided me a front row seat to the banking changes that Chris Skinner has chosen to chronicle and debate. His resume, endless travel and curiosity give him a unique perspective from which to opine and predict. He has used this vantage point and his wit to push banks to become more self-aware, introduce technologists into their leadership ranks, and understand that all is not lost. But that time is truly running out. The company I work for banks, invests in and competes with the world of FinTech that Chris follows. We see first-hand, on a daily basis, the world that he describes and the change companies like Stripe, Amazon, Brex and JPMC are making to reframe the competitive landscape. It s here. This new landscape has pushed many banks and SVB to change.
Chris s new book is a great read that highlights the banks that are in the midst of making these changes and a walk through the how with their leaders. No pontification re his thoughts on the topic but real-time insights into what other banks are doing and their thinking behind their transition to stay competitive. If you don t follow his daily blog, start. If you want more detailed insights from your peer banks you soon may be lapped by-read his books. I d suggest starting with Doing Digital .
-Mark Sievert Managing Director, Global Payments Merchant Service Solutions, Silicon Valley Bank
Transforming an incumbent financial institution s processes and systems to be fit for purpose in the digital age is no small matter. But Chris Skinner argues convincingly that the real transformation challenge is ultimately cultural. From having technologists as well as bankers in the C-suite, to forming effective partnerships with FinTechs, to expanding the mindsets among staff, and above all to serving as trusted stewards of the new oil of customer data, the digital bank represents a significant break from the past. As Chris s work demonstrates, the narrative for financial services is becoming much more future-oriented and strategic, less inward-focused and more receptive to collaborations and partnerships. Doing Digital is a vital contribution to that narrative.
-Matthew Blake Head of Financial Monetary System Initiatives, Member of the Executive Committee, World Economic Forum
Chris understands that successful financial institutions integrate digital into their core, rather than approach it as a project. Doing Digital spotlights leaders who not only understand this but have rewired their organization around this thinking.
-Mike Heffner Vice President, Global Industry Leads, Appian
FinTech is about improving rather than replacing the traditional financial sector. Chris Skinner shows how fintech is helping to lower investment barriers, make the banking industry more transparent, and promote financial inclusion.
-Professor Ba Shusong Chief Economist, China Banking Association and Chief China Economist, HKEX

2020 Chris Skinner
Published in 2020 by Marshall Cavendish Business
An imprint of Marshall Cavendish International

All rights reserved
No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Requests for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: [phone].
E-mail: [e-mail]
Website: www.marshallcavendish.com/genref
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no event be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages.
Other Marshall Cavendish Offices:
Marshall Cavendish Corporation, 99 White Plains Road, Tarrytown NY 10591-9001, USA Marshall Cavendish International (Thailand) Co Ltd, 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia.
Marshall Cavendish is a registered trademark of Times Publishing Limited
National Library Board Singapore Cataloguing-in-Publication Data
Name: Skinner, Chris.
Title: Doing digital : lessons from leaders / Chris Skinner.
Description: Singapore : Marshall Cavendish Business, 2020
Identifier(s): OCN 1133229642 | e-ISBN 978 981 4893 05 3
Subject(s): LCSH: Banks and banking-Automation. | Banks and banking-Data processing. | Banks and banking-Technological innovations.
Classification: DDC 332.10285-dc23
Printed in Singapore
For my family-my beautiful wife Kamila, my sweet little boys Eddie and Freddie, and my dearest mother Gladys. Without them, I am nothing.
For businesses that aren t born digital, traditional mindsets and ways of working will always run counter to those needed for today s world.
Chris Skinner
We have positioned ourselves as a FinTech bank. FinTech is not only the application of technology for the bank,