How will the future unfold? What is the impact of technology on business & society? As technology reorders the world in which live, who will be the winners and who will be the losers? Join Azeem Azhar, curator of the Exponential View newsletter, in deep conversation with the world's leading thinkers and practitioners exploring these and other important questions. The views expressed on this podcast are those of its hosts, guests, and callers, and not those of Harvard Business Review.
https://hbr.org/podcasts/exponential-view
episode 9: Disrupting Finance
Artificial intelligence is unlocking new value in the banking and finance industry, but incumbents are struggling to keep pace. Azeem Azhar discusses what this means for the industry and its customers with Citi Research’s Global Sector Head for Banks Ronit Ghose, and the founder-CEOs of two leading innovators: Daniel Schreiber of Lemonade Insurance and Rishi Khosla of OakNorth Bank.
Paul and Azeem also discuss:
- The huge role technology debt plays in obstructing legacy banks from innovating.
- How social networks, the smartphone, and AI grew exponentially and converged to mount a challenge to the traditional banking industry.
- The ways AI is cutting friction on the customer side.
- The ability to identify the sources of client or third-party data that can generate an algorithmically-powered image of the client and provide an insight into their ‘real’ level of risk.
Further reading:
- “Digital Disruption: How FinTech is Forcing Banking to a Tipping Point” (Citi Velocity, March 2016)
- “Bank X: The New New Banks” (Citi Velocity, March 2019)
- “The Future Of Banking: Fintech Or Techfin?” (Forbes, Aug. 27, 2018)
- “Bank 4.0 Will Be All-Digital, Low-Overhead, Mobile-First” (Forbes, April 19, 2019)
Ronit Ghose @ronit_ghose
Daniel Schreiber @daschreiber
Rishi Khosla @rishi_khosla
Azeem Azhar @azeem
www.exponentialview.co