All working for incumbents in financial services (and for all other interested in fintech) should listen to the breaking banks talk between Brett King and Anthony Jenkins. Anthony is the former CE of Barclays and leads now 10x Future Technologies and build a financial service platform. Below follow some snippets from the talk.
All banks do is intermediate (7:00).
Most important technologies (7:50)
- Distributed Ledgers
- Machine Learning and Artificial Intelligence
Incumbent Problems (12:30)
- very difficult for incumbents to change
- its the culture (culture is the long term memory of an organisation)
- Legacy technology burden
- Regulatory changes
- Excellent people but embedded in the culture
What does 10x Future Technologies do (14:30)
- build a 10 times better system
- big focus on information
