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BACKCHAT / DIARY Backchat imagined by our Senior Editor, Scott Thompson) T
Those in the FinTech business will spend less time hanging out at cool conferences, voting for eachother in ‘Shamazing Tech Dude’ polls and exchanging smug ‘you’re awesome, no, you’re awesome’ pleasantries on Twitter. Instead, they will make a concerted effort to move out of their comfort zones, connect with the man and woman in the street who have no interest in joining their exclusive clubs and discover if Joe Public finds their work as important as they do.
Banks, card schemes etc will stop predicting the imminent demise of cash in the face of a brave new digital world. They will also bin all press releases with such headlines as: Cash is a Ghost of Christmas Past (hang your head in shame, Visa). Coins and notes are going nowhere. Just deal with it, people.
We, the UK’s banks, will finally take onboard the contribution made to the British retail banking market by our Spanish friends, Santander and Sabadell. We will learn from the approach of Spanish FIs to basic banking and marketing systems and to straightforward customer management. This has always been grounded in reality, as we are finally learning. Sadly, the water remains muddied by compensation issues so many of us are still paying out for past havoc wreaked upon customers. But we will strive to be better in 2017!
We, the big banks, resolve to stop equating digital transformation initiatives with massive job cuts and branch closures. We realise that digital transformation projects increasingly look like convenient excuses for Deutsche Bank, ING, HSBC, Lloyds Banking Group et al to slash costs and drive up profits, whilst trotting out the party line, ‘what can you do? customers increasingly bank online’. But you can’t cut your way to digital innovation; at some point, you have to think about your whole business model.
Banking technology/FinTech publications resolve to exist peacefully side by side. We will no longer tweet hostile messages and fire off abusive emails in a bid to score cheap points (you know who you are). Yes, it’s an increasingly competitive marketplace we find ourselves in, but ultimately we are fellow journalists in the same boat. Can’t we all just get along?
IN THE NEXT ISSUE Feature Focus: Digital Banking Solutions he banking technology/FinTech sector’s New Year’s resolutions (as Diary
FEBRUARY 7-8: FinovateEurope 2017, London
http://europe2017.finovate.com
MARCH
13-14: MEFTECH 2017, Abu Dhabi
www.meftech.ae
MAY
09-10: IFINTEC, Istanbul
www.ifintec.com
OCTOBER
4-5: PayExpo Europe 2017, London
www.payexpo.com
16-19: Sibos 2017, Toronto
www.sibos.com
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2017 banking tech/FinTech events
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www.ibsintelligence.com © IBS Intelligence 2017
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