Digital NOT Digitised | The Banking Battlefield Ft. David Brear

Over the last three years, we’ve kept coming back to this one diagram - the 11:FS Banking Battlefield. Incumbent banks are being attacked from all sides by fintechs, brand challengers and digital players from non-financial services backgrounds. The big banks, such as RBS, HSBC, Barclays, etc., all have two things in common: vast amounts of customers in the market, but also everything cumbersome that comes with legacy systems and their inability to deploy at speed. This shifting landscape has now left them in a vulnerable position in the market. It’s no longer good enough to shift a process from analogue to digitised. The internet has fundamentally disrupted all major industries, and banking is no different. With players like Apple and Google now entering the market, the pressure is on.
But have we actually seen what TRULY digital banking is yet?
Have we understood the virtues that will come with it?
Well, not really...
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Пікірлер: 29

  • @11FS
    @11FS4 жыл бұрын

    What do you think about the state of financial services and banking? Let us know below in the comments!

  • @alfonss_
    @alfonss_4 жыл бұрын

    Hello budget Vsauce!

  • @melvinbutters2865
    @melvinbutters28654 жыл бұрын

    I would argue the customer service could be better and more personal with a smaller fintech than a bank where the workers have little decision making power to affect catered services or lower pricing and are mired in institutional bureaucracies that limit decision making to adapt to fluid business needs.

  • @kimsemiglia5380
    @kimsemiglia53804 жыл бұрын

    So clearly explained! Hopefully, big banks are able to make the necessary changes to keep up with the movement. I'm still learning a lot, but it seems like the idea of fintechs seeing incumbent banks as potential partners vs competitors is optimal for all parties (mostly us --the consumers).

  • @davidbrear5160

    @davidbrear5160

    3 жыл бұрын

    Thanks Kim - Glad you got value from it :)

  • @imadali5278
    @imadali52784 жыл бұрын

    How in the world was this shot? Was it filmed through the glass? But then how are words not reflected? Is this man a master of reflective writing?

  • @MSenaLuphdika

    @MSenaLuphdika

    4 жыл бұрын

    The hint is in the reversed nike logo on his jacket

  • @11FS

    @11FS

    4 жыл бұрын

    Our media team has some tricks up their sleeve! Did you enjoy the video? Let us know so we can make more!

  • @imadali5278

    @imadali5278

    4 жыл бұрын

    @@11FS I did very much! This was great stuff. I'd love a video like this on how the Challenger banks are built, i.e what kind of tech stacks they use, which bits are built internally vs integrated by third parties etc

  • @wizzyjokeribrahim
    @wizzyjokeribrahim4 жыл бұрын

    Can’t explain it better 👍🏻👍🏻

  • @davidbrear5160

    @davidbrear5160

    3 жыл бұрын

    Thanks Ibrahim. Appreciate it.

  • @wilsuthers
    @wilsuthers4 жыл бұрын

    Fascinating and a really helpful presentation. Thanks @david

  • @davidbrear5160

    @davidbrear5160

    4 жыл бұрын

    wilsuthers no problem. Make sure you subscribe for more coming soon 👍🏼👍🏼👍🏼

  • @11FS

    @11FS

    4 жыл бұрын

    We're glad you enjoyed it!

  • @talk2s5061X
    @talk2s5061X4 жыл бұрын

    Fantastic breakdown thank you

  • @davidbrear5160

    @davidbrear5160

    4 жыл бұрын

    Sean Edwards no problem Sean. 👍🏼

  • @11FS

    @11FS

    4 жыл бұрын

    We're glad you enjoyed it Sean! I think we're going to do a few more of these, keep your eyes peeled!

  • @larslarsson9329
    @larslarsson93294 жыл бұрын

    Hey Vsauce micheal here, or am i?

  • @setimpact110
    @setimpact1104 жыл бұрын

    Incredible content 🙌

  • @davidbrear5160

    @davidbrear5160

    4 жыл бұрын

    Tech Talk London thanks folks. Our awesome team trying something new. :)

  • @rendelx

    @rendelx

    4 жыл бұрын

    @david this presentation is top notch. You gotta share how you did the green pen display please :)

  • @davidbrear5160

    @davidbrear5160

    4 жыл бұрын

    Limahl Mills it’s called a light board. Super cool huh?

  • @rendelx

    @rendelx

    4 жыл бұрын

    @@davidbrear5160 Very cool indeed. Keep the content coming I thought your documentary was awesome!

  • @Shreed
    @Shreed4 жыл бұрын

    @David Brear Could we chat further? I only want feedback. I was having trouble bringing clarity to my vision but your platform, blogs, ideologies have really been helping me along the way.

  • @davidbrear5160

    @davidbrear5160

    4 жыл бұрын

    Shreedhar Amin how can I help?

  • @Shreed

    @Shreed

    4 жыл бұрын

    @@davidbrear5160 Thanks for reaching out. Product led Fintech in the US, do any come to mind? Do you think it is too late to launch a Fintech in the US? I have identified a unique selling proposition and target audience, but I fear the product (not impact) could be copied by already existing players. If so, how can that be mitigated? Should the goal be to check all three of these boxes? The need to fundamentally change how you deliver services The need to fundamentally change how you interact with your customer The need to fundamentally change the business model How might 10-15 highly motivated people with 1-5 mentors achieve the same output as 15 highly motivated/highly skilled people?

  • @jaredf2067
    @jaredf20673 жыл бұрын

    Did he just write all those like a mirror image? Or is this some video editing magic

  • @wakko0hakko

    @wakko0hakko

    3 жыл бұрын

    Lateral inversion. His wedding ring is on other side, in the UK it's worn on left hand.

  • @davidbrear5160

    @davidbrear5160

    3 жыл бұрын

    Magic mirror... im just happy you could read my writing :)