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Comments: (4)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 26 February, 2016, 11:10Be the first to give this comment the thumbs up 0 likes

You think PayPal, one of the few successful fintechs, has a great business model where it arbitrarily freezes merchant accounts, provides pathetic support and runs small businesses aground? Just asking...

Alex Letts
Alex Letts - U - Sheffield 26 February, 2016, 11:251 like 1 like

Hi Ketharaman welcome back! :)

My thesis is more that building new on old is really very difficult.  A bit like retro fitting a jet engine on a bi-plane.

Also I share your concern that the fintech fiesta is not actually going to save the planet!

I believe that the future of banking is about harnmessing this massive release of creativity (and inexperience, I agree) and combining it with the muscle of the banks.  I see the current banks as the engine room (almost wholesalers) with smart brands running off clean new fintech for their future customers.

In most paradigms (look at the internet and tech booms) the hybrid is the most likely evolution for mkost.  Their will also of course be slow and long-term change in the established players and just a few stand out unicorns

We are all in this together not on opposite sides.  Thanks for reading my blog and commenting.  I use hyperbole invitably to engage.


João Bohner
João Bohner - Independent Consultant - Carapicuiba 26 February, 2016, 18:371 like 1 like

Alex & Ketharaman,

"Bankensteins are not the future".

This is clear like crystal!

I am an enthusiast of the best strategy for Digital Banking transformation.

I'm working, for more than 40 years, on the 'hard' side of banking business which is in the back office side.

And you can believe me, the only way to achieve the "full" Digital Banking transformation, is to transform the way in which financial processes are treated in the back office.

Instead of handling processes by “line-of-business”, have to manage processes ‘corporately’.

Any other attempt to improve current processes in the back office, will be to replace six per half dozen.

I’ll try to explain:

1. The financial processes, nowadays, are handled by “line-of-business”.

Obviously, each “line-of-business” will generate its ‘silo’, which in turn will feed other 'silos' such as accounting, compliance, treasury, central bank, customers, and others.

2. By managing the processes ‘corporately’, you will generate only one “silo” – a single source of corporate knowledge.

This alone, already generates a tremendous simplification!
And, as a consequence, the integration happens (think in omnichannel!), as well as extreme agility in managing processes.

Also not to mention, the tremendous reduction in the processes and data storage…
(and beware of Unions, because of the people reduction!).

As the result of my quest "The Bank of the Future" was born.
The BotF is an Holistic Enterprise Architecture which handles processes 'corporately', breaking the today's paradigm of performing processes by line-of-business.

The quest, now, is how to put it to work, mainly in between the "the fintech fiesta" and "Banks race to beat the patent trolls—and Silicon Valley." (

Who should be the owner of all the patents of the several 'Holy Grails' of the "Bank of the Future" Architecture?
The ICT company or the first Bank to adopt them? (My idea is to sell the intellectual property of the Architecture to an ICT or to a Bank).

Comments and ideas are willkommen!

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 26 February, 2016, 19:36Be the first to give this comment the thumbs up 0 likes


The pleasure is mine! Someone once said, "if I dramatize a bit, it's only to drive home a point". Since I believe in that motto, I see where you're coming from:)

In my experience, sluggishness, head in the sand and all those negative things ascribed to banks are not bank problems - they happen to all companies once they cross a certain size. Just today I was commenting to someone that India's leading cab aggregator has become so big in 5 years that it no longer behaves like a startup e.g. it has totally tuned out customers' complaints about its drivers not reaching pickup locations without 2-3 telephone calls.

At least in India, banks have woken up from deep slumber and retaliate with their own offerings that beat fintech's offerings fairly regularly e.g. HDFC Bank's PayZapp Ends My Bill Payment Woes.