Joan McGowan

Banking Industry Expert at SAS

Message Posts: 2 Comments: 2

Bio Joan McGowan is a leading authority on the banking and payment industries, and Global Banking Industry Principal at SAS. Career History Joan has published more than 30 reports on banking technology and is a frequent speaker at industry conferences and client gatherings. Her life before banking was as a journalist/editor for The Economist Group and as a Senior Researcher for BBC North. The Leeds native is a life-long supporter (and sufferer) of Leeds United.

Blogs

Analytics in Banking

Banking as a Service (BaaS): Opening new revenue opportunities for banks

18 Oct 2021

What's BaaS? A flock of sheep or another annoying but potent banking acronym? BaaS is a way to modernize and grow the banking industry. It is about an open financial services ecosystem and the API orchestration for customer attention by banks and nonbanks. But the industry has yet to land on an authoritative definition of what it is, so I cobbled ...

Analytics in Banking

Smart Decisioning and Empathy in the Face of COVID-19

20 Apr 2020

Banks have a responsibility to respond to their customers’ needs through the coronavirus pandemic while, at the same time, preparing for a precipitous economic downturn and a different, post-COVID world. A poorly organized or ad hoc response could amplify the economic impact. Banks that take an empathic approach will help the community at a time ...

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Joan is Commenting on

BIS backs CBDCs to win out against bitcoin, stablecoins and Big Tech

There is so much more to CBDCs than is stated in this article. Central Bank Digital Currencies would inherently bypass banks, lenders (that's the purpose - it owns the network). Deposits and digital money will sit in the central bank vaults with access through an app such as Venmo or maybe even a central bank app - who cares it's a front end only. Because China is driving their e-yuan (500,000 users) other countries cannot afford to abstain. Ad DCs are networks they do not stop at geographical or currency borders. On the plus side, CBDCs will cut the cost of managing money and provide easier acces to 1.7 billion underbanked. But the level of intimate intelligence a govt will have on your finances in scary. They will be the ones make credit allocation decisions and, moreover, it's not impausible to imagine a govt efining you and garnishing your salary for that parking fine. But by far the most ominous threat is a cyber attack on a digital currency. The network goes down but the banks no longer hold the cash. Lots to think about.

23 Jun 2021 Reply Read article

How banks and financial services players will monetise open banking

Excellent discussion Patty and it's good to see how the different banks are leveraging APIs to improve their offerings. But I'm still concerned with the lack of standards for APIs and how they will be regulated, particularly in the US.

13 Jan 2021 Reply Read article