Robert-Jan and Henk at NN Bank, part of the NN Group, invited Matthew to give their Inspiration Day keynote on the future of banking and building the finance organisation of the future, a topic on every financial services organisation's mind given today's rate of disruption.
He explained why new competitors are now everywhere. Digitisation is dissolving the boundaries that once kept industries separate; more governments are embracing open banking standards; and as the cost of starting and scaling startups plummets, incumbents find themselves attacked from every angle by all manner of foes.
"Banks, even fintechs, haven't changed their modus operandi since Medici times and are essentially value-less stores."Matthew Griffin, Netherlands, April 2021
Matthew discussed new operating and business models, and argued that banks, and even fintechs, have not changed their modus operandi since Medici times and are essentially value-less stores. He also covered the future of fraud and banking interfaces, Bank 4.0, and how banks can fundamentally right their relationships with customers who, in almost all cases, are still treated as golden cash cows.
With the global economy beginning to show green shoots after the pandemic, he closed with the hope that banks everywhere would take time out, as NN did, to re-think their role in the world and help everyone share in the rewards.
