When people discuss 'banking being broken', they often refer to the technology itself. As Ewan Silver says - that isn't necessarily the case.
The fundamental flaw within banking at the moment is the way that banking products are treated within the organization. A customer can get a retail bank account, a credit card, and a mortgage from one bank.
They would expect this to be a seamless process, as it looks like one entity - but from the bank's perspective, these are three different businesses entirely.
The banks have no single-view of a customer. This was OK for a while. All banks worked in this way, so there wasn't exactly a high bar set for them,
But now, with challenger banks offering realtime payments and notifications, and GDPR regulations enforcing banks to enforce KYC across entire organisations, the banks NEED a single customer view.
And they can't seem to get there easily. So what are the potential solutions? Ewan explains it all.
