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A good move for both companies. Temenos is coming to America. Get ready Fiserv, Jack Henry and D&H. 

Brett, what I see is banks are so confined by legacy that they cannot get to the future. Core banking systems that were built 10 to 20 years before the internet, a branch network that drove sales, and banking executives that talk about change and technology but inertia overrides progression.

When was the last time anyone said, "the banking industry is progressive and risk tolerant"? Long live the legacy of banking as they watch their customers move to more nimble solutions.   

Fidor has changed the way social is used and the community it creates. Social media has a place, but not simply as another channel pushing a one-way bank marketing message.

Social media represents an "opportunity" to change a banking business model and connect deeply with its customers.    

Charmaine and Deborah, thank you for your feedback. Deborah, I can assure you that the North American domestic core banking system providers have not adopted the approach your company has undertaken. 

There really is a huge opportunity in North America, but the problem is, relative to banking around the world, the North American banking market is made up of a large number of relatively small banks and credit unions. There are over 14,000 banks and credit union in North America. That makes entering the market very challenging and expensive. 

James, fair comment, but when 99.???? percent of the banks and credit unions in the US will not be able to match or closely match the digital technology and technology based solutions roll-out of the national and super regional banks then their market viability is in serious doubt.

The article did not say consumer adoption would be a problem, but as long as consumers of all but the largest banks continue to expect their bank and credit union can keep digital pace, those institutions are in trouble. They must find a way to change their business model or paradigm or face irrelevance to most retail financial consumers.   

The article is intended to point out an option or new business model that may solve their problem. When the problem impacts over 99% of US FIs it means it does not work for them. 

What is occurring is a divide between the "haves" and "have nots". The pace of technological change is growing at a rapid pace. A pace that the vast majority of North American financial institutions (banks and credit unions) cannot absorb. They simply do not have the resources or expertise to learn about, consider, plan, purchase, implement and support customer/member facing solutions that their customer/members will expect. The huge marketing budgets of the national and super regional banks will continue to drive customer/member expectations for US banks and credit unions to match the technology solutions being introduced by the national and super regional banks.

Over the past 5 years the national and super regional banks have demonstrated their ability create a technology gap that the vast majority of banks and credit unions will not be able to make-up.

The national and super regional banks are investing heavily in technology solutions and start-up financial technology (Fintech) companies in order to ensure they maintain and widen their lead on customer facing technology solutions. According to Fortune.com, Fintech venture investment is set to hit $8 billion by 2018 as big banks look for ways to navigate an ever-evolving digital landscape.  The Millennials are evidence the gap is widening.   

Apple Watch introduces a whole new interaction channel, wearable technology. Just like the ATM, computer, mobile phone, and tablet; wearable technology is the next technology channel that your members/customers expect and will want to be able to use to interact with your financial institution. 

What makes wearable technology and Apple Watch in particular different, is the small display surface available on Apple Watch. Apple recognized this limitation and went back to the future to create a digital crown, similar in concept to the Blackberry roller-ball. Using the crown on the side of the watch allows interaction without covering the display surface.  

Call it a good start. The problem is Apple Watch is still highly reliant on manual scrolling and swiping to interface with the technology. That is a concept that is left over from the PC, mobile phone and tablet. 

How Apple Watch Will Change the Face of Banking