I’m just saying: musings on digital and core banking systems
As chief digital officer (CDO) and product director at Temenos for seven years and IT consultant at Lloyds Bank in the mid-1980s, Mistry has also held posts such as the head of technology strategy and architecture at NatWest Bank Card Services, and a CTO in both entranet and edge IPK.
From the very first internet and mobile banking apps to artificial intelligence (AI) and virtual reality (VR) – Mistry has been on both sides of the fence and he’s not afraid to share his opinions.
He founded proptech start-up AskHomey (sold to a private investor in spring 2023) and is an investor and mentor in proptech and fintech. He also co-hosts the Demystify Podcast.
Why AI won’t solve legacy problems
Not every problem is a nail that needs a hammer when it comes to AI.
The irony of incumbent core banking vendors
Incumbent core banking vendors have become the very thing they have been selling banks to replace.
Walking the talk with composable banking
Composable architecture creates real flexibility for banks looking to make changes to their cores.
Is this the end of banks as we know them?
Let's be realistic. “Digital” banking alone is not going to kill off “legacy” or incumbent banks anytime soon.
Can core modernisation give your bank new legs?
For banks, core replacement is not the only game in town, with core modernisation being a far less risky option.
The idea of personalisation has been around for decades in banking, so it's time customers get what they deserve.
Beyond the single customer view
Even if we have all the data on our finances, we need to be able to understand it.
Digital dementia: have banks forgotten about their customers?
In the race to optimise cost and efficiency through technology, let’s not forget to ensure a human touch remains.
The “bank of me”
For me, enhancing the customer lifecycle is the most exciting and impactful use of AI.
Banking on APIs
APIs should be seen as strategic by banks.
Money20/20 Europe: Banking on AI
The best time to start looking at AI was yesterday, and the next best time is today.
The single view of a customer
Having a single view of customer data can help banks streamline their operations.
Banking on data
As a coder, I always thought that software was key, but I soon realised the value was really in the data.
Banking super-apps, marketplaces, ecosystems and platforms
You should always have a clear understanding of exactly what you’re building before you get started.
What’s the customer benefit of fintech?
For me, the level of funding going into a market is not a good measure of success.
Is there a future for credit unions and building societies?
With the finite resources of a small bank, credit union or building society, the future could be daunting.
The future of banks is not banking…
Defining the future of banks is much more complex now than it has ever been.
If you build it, the money will come
The BaaS companies that will succeed will be those with a strong growth strategy.
Watch out for the core crash
There is more turmoil to come in the core banking space.
Why change your core?
If you treat core transformation like a standard large project, your chances of success are slim.
Winners and losers for 2023
Let's kick the year off with a look at where the winners and losers will come from over 2023.
Banking’s Christmas gift…
A fictitious story about the birth of a new neobank at Christmas.
Do banks really need a new core?
What are the main reasons or drivers for changing your core? I can think of a few.
Federated technology could offer banks a number of benefits and play a huge role in their internal transformation.
Is core banking easy?
It's now much more possible for banks to create innovative new products.
Sibos 2022: Are banks progressive about product?
I believe it's been almost 30 years since banks truly innovated on products for retail customers.
Does a composable banking future spell the end for programmers?
As industries merge, the need to mix and match software continues to grow.
Making composable banking work
Firms need to adopt a new way of working to enjoy the full benefits of composable banking.
Composing the future of banks
Flexibility, agility and innovation are core competencies that will keep banks competitive through the next decade.
Composable banking beyond the core
Composable banking allows FIs to simplify a perennial tech challenge: systems integration.
Can you compose your bank?
Composable banking – one of the most exciting and promising developments for core banking.
What is core banking?
The market for core banking software is not “a winner takes all” opportunity.
We are fast approaching the time finally being right for programmable banking.
The case for building core banking
Should larger banks be looking to write their own core? I'm not so sure.
The evolution of core banking: build or buy?
There's recently been a big rise in the number of players vying to be the core banking provider of choice for banks.
Banking for net-zero homes
Banks can make a significant difference to the planet, to their customers, and ultimately to their bottom line.
Banking for the good times and the bad
Banks should be proactive in helping us manage our money better in the good times and the bad.
Banking on spreadsheets
Banks and fintechs need to step up their game to serve customers better when it comes to money management.
Banking’s digital transformation journey
It's easy to forget that banks have been through some huge transformations in relatively short windows of time.
Banking on the metaverse
Having a presence in the metaverse seems inevitable, and the best time to understand the possibilities is now.
Six reasons why landlords should re-evaluate their choice of bank
Banks should be in a strong position to support landlords, but unfortunately, this is rarely the case.
The heat is on for banks to cool the planet
Banking has a bigger role to play in climate change than many of us realise.
Open banking’s failure
The impact of open banking is on the scale of the industrial revolution. It just needs time to fully play out.
Banking for mental health
For traditional banks, there is clearly more that can be done to help those suffering from mental health issues.
Sibos 2021: Banking beyond Covid-19
Covid has changed the world, and now we have to pick up the pieces and deal with the aftermath.
What’s the meta with banking?
With the concept of metaverses gaining traction this year, what opportunities are there for banks?
Back to the future for banks
Now is the best time for banks to plan and explore the future before the wave of change hits.
Your financial digital twin
What if you had a digital twin that could manage your money faster and better than you?
The birth of personal banking assistants
Banks should aim to utilise more data to become a personal banking assistant for your money/wealth.
Is data the new currency for banks?
Banks have huge amounts of customer data, but do they have enough?
Open banking myths
We are still at the start of the journey with open banking and have yet to see its full potential.
Who’s banking on APIs?
How proactive have UK banks been with their API strategy?
Data’s open road…
Has open banking delivered on its promise of driving innovation and competition?
Experience-driven banking: experience owners
Experience owners seek to fulfil end-to-end customer journeys for their niche segment.
Experience-driven banking: experience enablers
A strategic choice whether you become a platform to enable experiences or you own experiences.
Meet Jake: Gen Z crypto enthusiast
Gen Z is already forming an opinion about banks that is not favourable. Have the banks lost the battle for Gen Z?
Meet Leo: Gen Alpha
Leo is ahead of many banks when it comes to cloud technology.
Breaking my addiction
I used my phone for so many things. How would I survive without it?
Banking’s long road to BaaS
The opportunity for BaaS is huge and compelling, but the journey to get there is long and complex.
The big fight: banking vs technology companies
In over 30-years of banking, I have never seen a more complex and competitive landscape as there is now.
The core wars
This battle is for core banking software, challenging the likes of SAP, Finastra and Temenos.
The five p’s of banking
Banks have relied on the “five p’s” – people, physical cash, premises, processes and paper.
Banking’s Christmas ghosts
Charles Dickens' popular novel, "A Christmas Carol", gets a banking spin.
Banking for good
As the new kids on the fintech block start to mature, I do hope they support the broader community.
Digital banking platforms – the new core
Banks that want to own their distribution should also have a strategy for DBP in place.
Breaking down banks
Any one of these layers may have its own technical architecture or even be a separate business.
The end of apps
Is it time that we jumped from the app bandwagon?
Getting ahead of the game in banking
The plethora of digital engagement platforms out there are really just very basic gamification platforms.
Kids are banking’s future NOW
I’m just saying there is an opportunity to learn how to “gamify” banking today.
Banks need a single brain
Every bank needs a single brain to anticipate the needs, wants and quirks of every customer.
After divorce comes engagement for banks
For a bank to engage with a customer, they need to go beyond the initial request.
Is your bank rotten to the core?
In banking, a legacy product core based on old technology can’t simply be modified.
Banking is moving to a dual core
I’m not saying that digital transformation is just a case of implementing a DBP.
Banking’s long divorce process
The separation of customer management from product management has very strong advantages.
Tech for good
Highlighting how tech companies have come to the rescue during the COVID-19 crisis.
The return of humanity in the digital era
He highlights the positive impact of the current situation and how our past was not necessarily better.
Disrupting small business banking
I think what we (business owners) really want is an experience driven bank.
Is the future of banking not open but closed?
Europe and USA have to create their own ecosystems to compete with the East.
The end of technology…
It's time to drop the words "digital" and "tech".
The problem with better banking
Surely banking customers want and deserve better banking?
The Amazon-ification of banking
So, what can banks learn from Amazon? In a nutshell it should have these key features.
The secret is not just about being frictionless and digital.
Tesla-fy your bank
Will banks ever truly reinvent banking?
Carlsberg Bank – probably the best digital bank in the world
Banks need to identify new segments and go beyond banking
Recognising who customers are, what they believe, how they respond and act.
The birth of life stage banking
Finally customers will get help in managing their lifestyle or life stages.
The driverless bank
A truly digital organisation can live without one of the five P's that typically creates friction.
Being digital vs doing digital
It's best to be clear whether it's truly digital or whether it is in fact digitisation.
CSI names financial services veteran Troy Bradley as new CTO
Bradley brings more than 35 years of experience leading product and technology teams across banking and payments.
UK’s FCA proposes new rules to protect access to cash
The regulator says designated banks and building societies need to assess the gaps in access to cash.
Funding Circle appoints Coconut co-founder Adam Goodall as VP of product
Goodall joins Funding Circle from Coconut, a UK-based bookkeeping start-up he co-founded in 2016.
US fintech Pontera secures $60m in fresh funding round led by new investor Iconiq Growth
This latest investment brings Pontera’s total funding to date to $160 million.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
Liberis bags $112m in debt financing to fuel expansion in North America and Europe
Liberis plans to go live in Canada, Germany and Poland in 2024.
Bravura Solutions appoints APAC and EMEA CEOs as part of new leadership structure
The company has promoted Paul Dunn to CEO, APAC and Chris Spencer to CEO, EMEA.
German wealthtech Trade Republic lands full EU banking licence from the ECB
The new licence means the firm can now offer essential banking services such as deposits and lending.
Trading Technologies names former Broadridge exec Justin Llewellyn-Jones as new COO
Llewellyn-Jones was previously chief product officer, capital markets at Broadridge.