I often write and speak about the “Business Prevention Department” that lurks inside banks. Devoted to sniffing out and stamping out anything that looks “risky”, the Business Prevention Department is staffed with members committed to “protecting” their banks from those scary people who want to try unproven ideas. As banks worldwide hurriedly launch accelerator programs, […]
Leadership
Sorry, but Disruptive Technology WILL Kill Banks
Some of them, anyway. You just won’t read that on their tombstones. John Authers recently wrote an article in the Financial Times entitled “Disruptive technology will not kill banks” that was commented on by two people whose analysis and opinion I respect (Chris Skinner and Jeff Marsico). The subheading that read “Banking is too heavily regulated to be […]
Innovation Versus Efficiency
While banks are on a quest to improve efficiency ratios, I’ve noticed a recent increase in the use of the word “innovation” in more and more bank job descriptions and even in bank job titles. I view this as both good news and bad news. Good news because at least it seems that banks may […]
So God Made an Entrepreneur
And on the eighth day, God looked down on his planned paradise and said I need someone with a vision- So God made an Entrepreneur… God said I need somebody willing to get up before dawn, sketch ideas on a whiteboard, work all day in a coffee shop because she can’t afford to rent an […]
Rebuilding Trust in Banking
Two recent reports show both the contrast and the convergence of the financial services and technology industries. The 13th annual Edelman Trust Barometer again showed the banking and financial services industries as those least trusted by respondents, while the technology industry topped the list. Separately, Oliver Wyman released a report on the financial services industry […]
To All Veterans on This Veterans Day…
Thank you to all of you who have served and to those of you still serving. I am grateful to be able to honor your service to all of us. From Dale Wilson’s Command Performance Leadership: Freedom isn’t free. Men and women throughout our history have paid the price, sometimes the ultimate price of their […]
Five Shifts that Define the New Era for Wealth Management
Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. Many of the strategies, skills and behaviors that enabled success in the past are now at best ineffective, and completely irrelevant in some cases. Advisors and firms serving affluent clients must adapt […]
Why More Experienced CEOs Will Stay At the Forefront of Tech Innovation
This is as encouraging to me personally (“the average age of founders of technology companies is a surprisingly high 39 – with twice as many over-50 executives as those under 29 years old.)”, as it is generally (“The United States might be on the cusp of an entrepreneurship boom—not in spite of an aging population […]