Community

This strenghtens the comment in my blog, about KYC

https://www.finextra.com/blogposting/13336/holistic-end-to-end-backbone---some-observations?utm_medium=dailynewsletter&utm_source=2016-11-8

about customer type number 2: "The individual customer who needs to hide his 'dark side' securely..."

Jeremy,

I agree with the capacity's obstacle, by the way, huge.
326 thousand transactions on one day makes around 4 transactions per second.

A medium bank makes some thousands transactions per second!

It's a long way to go.

That's it!

There is a huge opportunity to squeeze the operational expenses by changing the current paradigm: Change the management of financial processes from "by line-of-business" (many silos) to handle the financial processes "corporately", a single 'silo'.

It will reduce the operational expenses at least tenfold!

In Brazil, to open an account, you can choose 'go to the branch' or 'use your mobile':

https://www.itau.com.br/conta-corrente/abra-sua-conta/conta-digital/#simplicidade

Yes Vincent!

"First thing: Get organized internally!"

Very good article!

It is interesting, however, to take into account the diversity of customers.
As a curiosity about customer preferences, see the Rosie Murray-West's article:

'Back to the future' savings passbook trumps the internet.

http://www.telegraph.co.uk/finance/personalfinance/savings/9326252/Back-to-the-future-savings-passbook-trumps-the-internet.html

Customers are Kings!

Absolutely true!

Congrats.

@Hitesh,

"Is the right time for asking?"

I think the right time has already been exceeded!

Nowadays there is a huge circus on the cosmetic side of financial business, the front end - startups, fintechs, unicorns, VCs, blockchain, smart contracts, crypto currencies, etc. - considering the current architecture which is sliced into front-end and back-end.

This architecture is inherited 'from the beginning', when computers were called 'electronic brains'.

For this reason, a vision 'outside the box' proposed by Diebold Nixdorf (should also others) is required.

Not necessarily Nixdorf Diebold, but the banking environment as a whole.

A holistic architecture should be pursued.

@Alicia,

consider also:  

"The more direct control that a customer has to understand and handle its financial position, greater the confidence he will have in the bank holding its assets."