Final Tech Report HD - Flipbook - Page 9
The technology needs to be architected in a way that will allow
the organisation to respond to change as well. It should be
possible to upgrade a section of software without impacting
every other feature.
All of this requires a continuous learning culture. You can’t just
put your feet up because you have become an expert in a
technology stack or because you understand the process in an
organisation. You have to constantly be looking at “what next”.
Why are the customers interacting with our products and
services that way, what will they expect next? If you don’t have
that curiosity coupled with the ability to change quickly then
you will quickly become redundant.
What can we expect in the future?
Today’s consumers have grown used to a world of digital
services that are crafted around their particular needs,
providing them with input before, during and after they buy
that car or search for that loan. They expect offers and service
recommendations based on their own and others’ location,
demographics and past and present transactions and
behaviour. They want these insights to be delivered and
updated instantly on whatever device they are using.
The challenger banks have got the technology and they have
the ways of working, I have seen this first-hand at Starling.
Open Banking and PSD2 will open the banking marketplace to
other innovative companies who will also have these skillsets.
The underlying theme of this kind of disruption is the
unbundling of supply and service. Banking has come late to
the unbundling revolution. But now, the sector is ripe for it - for
unbundling, or disaggregation - and ripe for its own Softwareas-a-Service transformation that will allow customers to pick
and choose and pay for applications as they use them.
In my opinion we are at the verge of a very different banking
experience for customers in Ireland.
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