Banking

Innovation in Financial Services – An Industry View

I recently participated in an industry roundtable sponsored by IBM and run by “The Banker” to look at the state of innovation in financial services. “The Banker” is a publication that provides economic and financial intelligence for the world’s financial sector. I was joined by a diverse panel of participants from across the industry: Anthony […]

Banking

Improving Customer Experience Through Digital Reinvention

I’ve spent most of my life as a satisfied consumer. Whether I bought a new outfit, hailed a taxicab, invested in stocks or bonds, or rented a movie, I viewed almost everything as a transaction. The transaction either succeeded or it didn’t. Most of the time, it did. That’s all changing. And the pace of […]

Blockchain

DTCC Selection of IBM and Axoni Points to Blockchain Maturity

This week’s announcement that DTCC has selected IBM, in partnership with Axoni, to build a Distributed Ledger Technology (DLT) version of their Trade Information Warehouse (TIW) is a flagship event in the increasing role of blockchain technology in financial markets. It sets an industry standard for successful “at scale” industry deployments of DLT within the […]

DTCC Selection of IBM and Axoni Points to Blockchain Maturity

This week’s announcement that DTCC has selected IBM, in partnership with Axoni, to build a Distributed Ledger Technology (DLT) version of their Trade Information Warehouse (TIW) is a flagship event in the increasing role of blockchain technology in financial markets. It sets an industry standard for successful “at scale” industry deployments of DLT within the […]

Who says you can’t save your way to prosperity?

Legendary Chairman Lou Gerstner took note, upon joining IBM, of the endless stream of meetings to measure progress towards quarterly revenue goals.  His conclusion: “You can’t fatten a pig by weighing it.” The other side of that growth coin is reducing costs.  And there: the conventional wisdom is that you can’t save your way to […]

The complex impact of fintech and legacy systems on banking

A recent article in The Globe and Mail, The biggest threat to banks? Legacy systems, not fintech (November 2016), by Mike Gardner seemed to go viral on my Twitter stream. In the article, Mike describes huge losses for JP Morgan and the collapse of MF Global caused by IT systems and the use of inappropriate tools that […]

IBM Design Thinking brings a wealth of innovation to wealth management

Most people who know the name Branch Rickey know him as the president and general manager of the Brooklyn Dodgers who played a key role in helping Jackie Robinson break the Major League Baseball color barrier in 1947. I also know him for something he said several decades earlier.  In a speech to a YMCA […]

Automation in banking: a journey worth taking

A big part of my work at IBM involves advising clients on automating their business processes.  In that work I have to admit I find inspiration in a quote from inventor and entrepreneur Tom Preston-Werner.  “You’re either the one that creates the automation or you’re getting automated.” For decades, companies in every industry have focused […]

Why technology and human creativity are two sides of the same coin?

Preface: Per IBM’s 2015 C-Suite study, “…CxOs believe technology and market factors are by far the biggest of the various external forces buffeting their organizations. CEOs put technology at the top of the list, as they have for the past four years. But now, for the first time ever, the other members of the C-suite […]

Ready for Money20/20? What about Real-time Payments?

We will be gathering in Las Vegas this week for Money20/20. I predict that two of the hot topics at Money20/20 will be the availability of immediate or real-time payments and cyber security. These topics are creating new challenges and opportunities for the financial services community. These technical and business challenges relate to the current […]

Accelerating Blockchain Transformation

In March of 2016, I testified on the revolutionary nature of blockchains before the U.S. House of Representatives’ Energy and Commerce Subcommittee on Commerce, Manufacturing & Trade. Since that time, blockchains have continued garnering interest across multiple industries from banking to health care, and have been explored for quite a few additional use cases. IBM […]

Banks can modernize, transform and innovate faster with DevOps

Banking today is nothing like what it was a few years back. The industry is undergoing rapid transformation as banks are juggling increasing regulatory requirements, while at the same time looking for new ways to provide customers with better services anytime, anywhere. The entire conversation about technology for banks has evolved from historically long development […]

Combating cybercrime in the 21st century: Financial services firms are learning how to fight back

The cat is out of the bag. When a new cyberattack occurs that is successful and garners attention in the news cycle, you can almost guarantee it will happen again. Why?  It is a combination of several elements. First the author of the original hack is motivated to re-use the tools, techniques and methods because […]