In this episode
Innovation isn’t having an app – it’s having a new business model. Yet for banks, business models are one of the hardest things to innovate around. We discuss what’s broken with traditional bank business models, and how to create new ones, with two people who know best: Tom Blomfield, CEO of Monzo, and Dora Ziambra, Head of Business Development at Azimo.
“For me, and many people in the industry, being a marketplace bank is the future,” Tom says. “It’s a customer interface that acts as a platform for all of your financial problems. So a single interface that gives you access to the Azimos and the Funding Circles and the Transferwises, with a delightful, one-click user experience, but still giving you the benefits of that choice and that customer service. So, sort of, looser recoupling around APIs.”
Listener offer: for a 30% discount on Innovate Finance Global Summit tickets, register using the discount code FinTechInsider. The event will be held April 10-11 in London.
The post Ep213 – Bank Business Models: The Last Bastion of Innovation appeared first on 11FS.
The post Ep213 – Bank Business Models: The Last Bastion of Innovation appeared first on 11:FS.