Digital attacker banks have demonstrated that they can delight customers, scale up quickly and expand into new products, geographies and customer segments. Digital attackers are lower cost, faster to innovate and can transform their traditional parents. As an alternative to embarking on a multiyear, hugely expensive systems transformation, some incumbent banks have launched attackers with the aim of transforming the core business.
Tag: Strategy & Planning
“Never interrupt your enemy when he is making a mistake.”
Will Thinking Outside the Box be Encouraged?
Thinking outside the box simply means that you’re willing to consider different solutions and methods for reaching your desired outcome. The most creative solutions often come first when you have already came up with the more conventional ones. It’s only when you have a range of options that you should sit down and choose the best.
COVID-19: A Case of Knightian Uncertainty
Frank Knight, an economist, formalised a distinction between risk and uncertainty in his 1921 book, Risk, Uncertainty, and Profit. In his classic book, Knight introduced a distinction between measurable uncertainty, which he called “risk,” and “true uncertainty,” which cannot “by any method be reduced to an objective, quantitatively determined probability.”
Social Bubble: Welcome Development or Social Nightmare?
Drastically limiting people's contact with others seems to be helping the countries stem the spread of the Coronavirus. But as economies slump, curve flattens, and people become fatigued with restrictions, governments around the world are now facing the challenge of how to ease their citizens out of lockdown without risking a second wave of infections, and …
Continue reading Social Bubble: Welcome Development or Social Nightmare?
Procrastination & Creativity
Procrastination can actually make us more creative, according to Professor Adam Grant. The management professor at Wharton School of Business has highlighted the benefits of procrastination — especially for making us more creative.
Digitalization of Banking
Despite several opportunities, banks face pressure from both external and internal forces that hinder full-scale digitalization. The complexity and width of digital initiatives vary upon infrastructure, customer preferences and policy framework of the region.
Consolidation of Indian Banks
The Indian government is pushing consolidation within PSBs as part of one of the reforms it intends to undertake in the banking sector. While the country needs big banks but timing may not be right as banks need to focus on cleaning up of balance sheet first.
Principles vs Rules
In the pursuit of truth and fairness, we shall continuously evolve, otherwise our principles and rules may become irrelevant with the passage of time, or may not remain that fair as they should be.
Why Do We Make Bad Decisions?
Like everyone else, we’re subject to cognitive bias, a limitation in our thinking brought about by errors of memory, miscalculation or social attribution. Not all biases are negative, however. The placebo effect, for example, is important in the search for new medicines. This cognitive bias can be so powerful that by simply telling a patient a new drug will make them better, they begin to believe it.
Peechhe Dekho, Aage Barho
Whenever in doubt, just look back and see what had been done in similar situation and then move ahead and act accordingly. What is even worse is that I later found that PDAB did not pervade only in my bank, other banks were also following the PDAB principle.