WHO’S BEEN SAYING WHAT
IBS Journal July 2016
49
Quality quotes from the banking tech world “New exponential technologies open the door to a one-way
disruptive process where the customer will ultimately emerge as the biggest winner. I am referring to the possibility of radically cutting operating costs and speeding-up new product roll-out processes, and of breaking into new markets and multiplying by several times the productivity of our investments. Many banks and startups will disappear, and, on top of it all, sooner or later, the tech giants will make their move…the banks that manage to survive will no longer be banks, but service companies and financial solution providers, competing in a completely different ecosystem.” BBVA Executive Chairman Francisco González
“Let me repeat: SWIFT, our network, software and our core messaging
services have not been compromised. Ensuring that remains the case is, and always will be, SWIFT’s top priority. But the financial industry, as a community, has to be clear that cyber risk is big; there will be more cyber attacks. And inevitably some will be successful. Acknowledging this doesn’t mean we are resigned to it. Rather, it means that we must work even harder at our collective defensive efforts.” SWIFT CEO Gottfried Leibbrandt (pictured)
“I don’t remember a world in which a third of government debt
was trading at negative nominal interest rates. I don’t remember a world in which anti-establishment parties were gaining such traction on both sides of the Atlantic. I don’t remember a world in which we relied on one partisan instrument, which is central banks.” Allianz Chief Economic Adviser Mohamed El-Erian
“For digital transformation to become ingrained in a bank’s DNA and strategy, there needs to be a champion – and
that is the Chief Digital Officer. The role of the CDO is still new and maturing, but it should be focused on aligning different segments of the organisation and different technology processes around one common goal – greater customer engagement and retention.” Jerry Silva, Research Director, IDC Financial Insights
“Our thoughts, condolences and prayers are with Jo Cox’s (Labour MP who was murdered in her West Yorkshire
constituency during June) husband, her two young children, her extended family and her colleagues. While I did not know Jo Cox personally, I knew many of you did and that many, many more knew what a remarkable person she was. She dedicated her life to helping others…The best tribute that this room, this city and the country can give to the memory of Jo Cox is to renew our shared commitment, whatever our differences, to promote the common good in the UK and the world.” From Governor of the Bank of England’s Mark Carney annual Mansion House speech
“FinTech will likely entail more of an evolution than a revolution. This is because incumbent financial institutions
will adapt, new players will join the financial ecosystem and those with strong business models will survive. And the most fundamentally transformative technology so far (distributed ledger technology) still has important hurdles to clear. Innovations may solve some current problems, but they could also create new ones. The regulatory framework needs to adapt so that the door is not opened to unmanaged financial and operational risks, unchecked critical dependencies within our financial system and moral hazard.” Bank of Canada Senior Deputy Governor Carolyn Wilkins
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