WHO’S BEEN SAYING WHAT
IBS Journal April 2017
51
Quality quotes from the banking tech world “Banks are full of good people doing good things and we need
to get that message out there.”” Chris Gledhill, CEO and Co-founder, Secco
“For mature FinTech markets like Silicon Valley, New York and London,
2016 was a year of uncertainty. The build-up of momentum-capital, high valu- ations and pressure-tests on the business models of major FinTechs dampened large investments in traditional FinTech hubs. Political events raised questions about market access and opportunities for ventures, and questions lingered about the economy with regard to interest rates and currency valuations. The outlook remains bright, but many uncertainties will continue this year. And that will set a higher bar for performance among FinTech ventures, particularly in the US and UK. The winners will be those who understand how to tailor their innovations and compress their time-to-market and are able to leverage traditional financial institutions to their advantage.” Richard Lumb, Group Chief Executive – Financial Services, Accenture
“The term ‘challenger’ implies the ‘plucky underdog’, a label that doesn’t hold for what are in some cases
long-established and significant businesses. Many of these banks’ distinctive offerings mean they do not need to compete directly with the large High Street banks to succeed. Their USPs are often around client franchise or need, geographic location or product specialism. Specialist lenders in particular aspire to operate in the gaps left by other banks, typically addressing customers with more complex needs rather than the ‘vanilla prime’ segments. Many of these banks don’t anchor their propositions around current accounts as they recognise that customers are willing to multi-bank.” John Lyons, Head of Retail and Commercial Banking, PwC
“We believe that Dubai is the global capital of blockchain. We know how to execute and we’re creating the ecosys- tem.” Wesam Lootah, CEO, Dubai Smart Government
native ways to be organised and to operate; to have a much thinner spine than they have today. ” Karl Meekings, Lead Analyst, Ernst & Young, EY Global Banking & Capital Markets
“To face the technological revolution in the banking industry, the changing expectations of clients, and the
competition, Alior Bank must transform from a financial firm with a strong IT angle into a FinTech with a banking licence. This way, we will maintain customer satisfaction, improve effectiveness, continue dynamic business growth and provide a satisfying return on equity to the shareholders.” Wojciech Sobieraj, CEO, Alior Bank
“When we think about what really makes London a global financial centre, one of the key things is its
reputation and the efficiency, the effectiveness, the well-run nature of the markets that operate here and that we regulate. I think we would have to think very, very carefully about diluting that.” Christopher Woolard, FCA Execu- tive Director of Strategy & Competition
“The key to success will be building a better ecosystem, not a bigger bank. Institutions must look for alter-
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