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David Gyori

CEO at Banking Reports Limited London

London, United Kingdom

My objective is to provide top quality FINTECH TRAINING FOR BANKERS.
David Gyori is a globally renowned Financial Technology trainer, author, consultant, and keynote
speaker. David is CEO of Banking Reports London, providing top quality ‘FinTech Training for Bankers’ all over the world. He is a ‘Top 50 Global Thought Leader and Influencer on FinTech’.
David is co-author of five internationally published books:
+ ‘The FinTech Book’ (Wiley & Sons, London, 2016)
+ ‘The WealthTech Book’ (Wiley & Sons, London, 2018)
+ 'The PayTech Book' (Wiley & Sons, London, 2020)
+ 'The AI Book' (Wiley & Sons, London, 2020) as well as
+ ‘WealthTech: Wealth and Asset Management in the FinTech Age' (IAP, USA, 2019)

‘The FinTech Book’ has quickly risen to the status of a global best seller. It has been translated to 10 languages and being sold in 100+ countries.
David is frequent keynote speaker of top international banking and FinTech events. He has provided advanced training programs face to face as well as online in 50+ countries in five years.

David holds multiple key international positions: He is Founding Member of the World FinTech Association (Seoul); CEO of Banking Reports Limited (London); International Resource Director of The Asian Banker Group (Singapore); Member of the Panel of Judges of the ‘International Excellence in Retail Financial Services Program’ (one of the most rigorous, prestigious and transparent awards programs for consumer financial services worldwide) as well as Member of the Panel of Judges of the ‘Financial Technology Innovation Awards Program’ (Singapore).

David spends significant time in Budapest, London as well as the Adriatic and when you contact him chances are he is delivering one of his global best seller training programs face to face or online to leading bankers in one of the 50+ countries he is actively working in.

Available For: Speaking
Travels From: London, Vienna
Speaking Topics: FinTech, Digital Banking, Banking Innovation

David Gyori Points
Academic 0
Author 317
Influencer 302
Speaker 16
Entrepreneur 0
Total 635

Points based upon Thinkers360 patent-pending algorithm.

Thought Leader Profile

Portfolio Mix

Company Information

Company Type: Company
Theatre: Global
Media Experience: 10 Years
Last Media Interview: 07/20/2020

Areas of Expertise

AI 32.35
Analytics
AR/VR
Big Data
Blockchain 30.12
Cryptocurrency 30.25
Culture
Customer Experience
Design Thinking
Digital Disruption 30.05
Digital Transformation 33.22
Emerging Technology 30.06
Fintech 70.15
Future of Work
Innovation 30.04
IoT
Leadership
Management 30.07
Marketing
Open Innovation
Quantum Computing
Risk Management 33.18
Business Strategy 45.09
CRM 30.81
Cybersecurity 30.27
Mobility 31.94

Industry Experience

Financial Services & Banking
High Tech & Electronics
Insurance

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Publications

16 Article/Blogs
Crypto Crash: The Capital Currency-Crisis Coming
LinkedIn
October 23, 2021
Summary: Houston, we have a five trillion dollar problem!

A five trillion USD crisis is looming in the world economy. Cryptocurrencies will crash and risks will spread through our global financial ecosystem and beyond.

See publication

Tags: Cryptocurrency, Fintech, Risk Management

10 WealthTech Trends
LinkedIn
August 26, 2021
1. Copy Trading Grows Major
2. 0 Cost Brokerages Need Profit
3. Mobile Wallets and Roboadvisors Shake Hands
4. From Crypto Craze to CBDCs (1/2)
5. From Crypto Craze to CBDCs (2/2)
6. Asset Tokenization Disrupts Stocks
7. 'Data' Defines Digital Disruption
8. Marketplace Lending Reveals Risks
9. AI Reaches Singularity in Professional Wealth Management
10. Cybersecurity Defines Next World-Currency

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Tags: Digital Transformation, Fintech, Innovation

21 Financial Technology Trends for 2021 by David Gyori
YouTube, David Gyori FinTech Expert
December 01, 2020
Watch David Gyori, globally renowned Financial Technology expert talk about '21 Financial Technology Trends for 2021'!

01. The Third Generation of FinTech
02. Higher Interest Rates, Balance Sheet Banking
03. Valuations and Profitability will be Linked
04. Data Ecosystem Strategy
05. Fear of Singleton of GAFA Banking
06. Surge in M&A
07. Optichannel instead of Omnichannel
08. Immersive Banking
09. Cross Convergence of Branch Strategies
10. Gamification and Gaming
11. Health and Wealth
12. Roboadvisors of Betterment Style
13. Social Trading
14. Crypto Crisis of Complex Compliance
15. Asset Tokenization in Corporate Finance
16. Shift from Compliance to Cybersecurity
17. China will Start Go Through a Credit Cycle
18. VISA and MasterCard will Feel the Heat
19. Multifactor Identification
20. Meta Technologic State of Banking
21. Exobanking

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Tags: AI, Business Strategy, Fintech

Intelligent Machines: The New Clients of Banks?
The AI Journal
July 15, 2020
My prediction is that around the late 2030s machines will start to own assets and liabilities and through this, they will rise to the status of ‘banking clients’.

How did I arrive at this conclusion?

Step 1: Mezzanine AI
Step 2: What to Learn Next?
Step 3: Profit Optimisation
Step 4: Machines Owning the Results of their Decisions
Step 5: Machines Save Money and Take Loans
A. Ringfenced Machine Economy
B. Exo Banking
C. “Self-Driving” Companies and the Machine CEO
D. Identity of the Third Kind: Machine Identity
E. An Adult in the Room: Early Days of Machine Banking
F. How will a Machine Choose a Bank?
G. Transhumanism in Banking

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Tags: AI, Business Strategy, Fintech

Gamification in Banking
YouTube, David Gyori FinTech Expert
May 14, 2020
A video masterclass by David Gyori.
Gamification is about fun, business, social value, inclusion and digital transition. A great technology, concept and tactical tool for banks to attract Millennials and GEN Z.
From ABN Amro Bank to KBC Bank; from Ant Financial to Grow Financial; from BBVA Bank to PNC Bank this video masterclass is full of global best practices.
And at the end you can also hear about the miraculous story of a refugee from South Sudan creating one of the global best practices in gamification!
The Trainer, Mr David Gyori is CEO of Banking Reports. Banking Reports is a global leader in providing FinTech Training for Bankers
KEY POSITIONS:
+ Top 50 Global Thought Leader and Influencer on FinTech (Thinkers 360, USA)
+ Founding Member of World FinTech Association (Seoul)
+ Director of The Asian Banker Group (Singapore)
+ CEO of Banking Reports (London)
Member of the Panel of Judges of the:
+ International Excellence in Retail Financial Services Program (Singapore)
+ Financial Technology Innovation Awards Program (Singapore)
BOOKS:
Co-author of 'WealthTech: Wealth and Asset Management in the FinTech Age' (IAP, USA)
Co-author of ‘The WealthTech Book’ (Wiley & Sons, London)
Co-author of 'The PayTech Book' (Wiley & Sons, London)
Co-author of ‘The FinTech Book’ (Wiley & Sons, London)
Co-author of 'The AI Book' (Wiley & Sons, London)

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Tags: Business Strategy, Digital Transformation, Fintech

20 WAYS BANKS CAN WIN AI
LinkedIn
May 06, 2020
AI is the best excuse for banks to GET THEIR DATA RIGHT!

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Tags: AI, Emerging Technology, Fintech

AI in Banking
https://aijourn.com/
May 05, 2020
The problem: lack of data excellence
AI in banking is becoming a bigger issue and banks are facing multiple challenges when investing in AI. Some of these challenges include:
-> Legacy IT
-> Data Silos
-> ‘Spaghetti’ Software
-> Complex Privacy Regulations
-> Stringent Compliance Requirements
-> Cybersecurity
-> Shortage of Available AI Talent
-> Outdated User Interfaces
-> Heritage of Complexity as Opposed to Simplicity
-> Relatively Older Clientele
-> Legacy Channels
-> Lack of Data Ecosystems and Open Platformification

As a result of all this, banks are typically near the ‘no go zone’ of the matrix of data excellence.

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Tags: AI, Digital Transformation, Fintech

The Next Generation of Payments? YES.
linkedin
February 08, 2018
You can now register for the Next Generation Payments Forum with 30 percent discount!
How? If you are MEMBERS of the World FinTech Association or if you refer to one of the MEMBERS.
(1) Who are MEMBERS of the World FinTech Association? Please see my comment at the end of the article!

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Tags: Business Strategy, Fintech, Management

Interview with David Gyori, CEO of Banking Reports
linkedin
April 25, 2017
DISTRIBUTION IS RISING FROM A TACTICAL TO A STRATEGIC CHALLENGE

We are expecting over 300 banking and insurance executives to attend the EFMA Distribution Summit in London. How do you see the reasons behind the relevance of distribution?

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Tags: Business Strategy, Fintech, Risk Management

The Deutsche Moment : Why Uncertainty Around Deutsche Bank Marks the End of the 2008 Crisis?
linkedin
October 01, 2016
Most experts compare the current situation of Deutsche Bank to that of Lehman Brothers in 2008. They emphasize the similarities and argue that 2008 is back. I will argue that the current situation is the iconic milestone of the clear END of the 2008 crisis. Here is my argument:

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Tags: Business Strategy, Fintech, Risk Management

Albania: a Diamond Being Polished
linkedin
July 27, 2016
PLEASE READ MY NEW ARTICLE ABOUT ALBANIA BY CLICKING HERE:
Earlier this year I had the chance to visit Albania - I think I found a diamond.

You will find info about Albanian Society, Albanian Economy and Albanian FinTech!

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Tags: Business Strategy, Fintech, Risk Management

7 Versions of Brexit
linkedin
June 30, 2016
In my new article I take a look at the 7 key ways Brexit can happen:

Bremain – Brexit Type #1
Slowxit – Brexit Type #2
Alibixit – Brexit Type #3

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Tags: Business Strategy, Fintech, Risk Management

RISING STARS: Overview of the great opportunities of FinTech in Africa
LinkedIn
July 30, 2015
"We have researched the FinTech scene of 36 African countries. Based on this we have formed three main observations characterizing FinTech in Africa.

Diversity: African FinTech is often characterized by M-Pesa and other mobile money solutions. Our research has shown that FinTech is much more diverse in Africa embracing almost all cutting edge activities found globally.

Perfect Match: Africa and FinTech are like two perfectly matching pieces of puzzle. Low penetration of banking and high proportion of millennials is the perfect combination for FinTech to emerge.

Regulation Patchwork: 54 economies of often limited size make up the continent. Pan-African presence is hard to reach for FinTech startups due to the regulation patchwork of cross border activities between African countries."

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Tags: Blockchain, Cryptocurrency, Fintech

5+1 Key Points of the Greek Tragedy
LinkedIn
June 27, 2015
Nearing Default: On the 30th of June, Wednesday Athens has to pay EUR 1.6 billion to IMF. They don't have the money. They could only pay it if they received new funds from EU.

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Tags: Digital Transformation, Fintech, Risk Management

LUXEMBOURG - The Best Kept FinTech-Secret
LinkedIn
May 20, 2015
1. Ideal Regulatory Environment: Cooperative, Communicative, Meditative, Inclusive, Progressive, Smart, Business-minded, .
2. Great Traditions as a Financial Hub: Luxembourg is one of the largest banking hubs in the Euro Zone and the most vivid venue for fund-management activity.
3. Tech Ecosystem: Luxembourg is heavily working on becoming a tech-center within continental Europe.
4. Remarkable Value-Proposition for Startups: Luxembourg has long been a preferred jurisdiction for registering certain types of companies. It seems that the country is now moving towards becoming a startup-paradise.
5. Preferred by Blockchain: Luxembourg is one of the most active players in terms of hosting Blockchain activity.
6. Center of Europe: Luxembourg is geographically in the center of a market of 500 million consumers, clients.
7. Other Aspects: Low taxation, Political and social stability, Membership in the Euro Zone, Beautiful, Pristine, Local people are very kind, Clean, Modern yet Traditional, Great food, Beautiful architecture - both modern and contemporary, Multilingual,

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Tags: Digital Disruption, Digital Transformation, Fintech

5+1 Reasons Why the FED Should Raise Rates in June
LinkedIn
May 09, 2015
In May 2015 I have predicted that "New credit bubble brewing:
US economy is in fact highly leveraged, stock prices and RE prices are at
historic record heights. Chances are: the US economy is heading towards a credit bubble...again."
And:
"QE money and permanent 0 rates combined lead to financial engineering type of investments, not real ones."

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Tags: Business Strategy, Fintech, Risk Management

5 Books
The AI Book
Wiley and Sons
April 15, 2020
+ I am co-author of this book! There are many other AMAZING co-authors besides me!
+ The AI Book: The Artificial Intelligence Handbook for Investors, Entrepreneurs and FinTech Visionaries

Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned.

ISBN: 978-1-119-55192-8

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Tags: AI, Business Strategy, Fintech

The PayTech Book
Wiley and Sons
January 15, 2020
+ I am co-author of this book! There are many other AMAZING co-authors besides me!
+ The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs, and FinTech Visionaries
+ The only globally-crowdsourced book on the future of payments (“PayTech”), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce

The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation ­– new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market.

ISBN: 978-1-119-55195-9

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Tags: Business Strategy, Digital Transformation, Fintech

WealthTech: Wealth and Asset Management in the FinTech Age
IAP Information Age Publishing
November 01, 2019
+ I am co-author of this book! There are many other AMAZING co-authors besides me!

The book “WealthTech: Wealth and Asset Management in the Fintech Age” is the primary resource for the wealth and asset management technology revolution. It examines the rise of financial technology and its growing impact on the wealth and asset management industry. Written by thought leaders in the global WealthTech space, this volume offers an analysis of the current tectonic shifts happening in wealth and asset management and aggregates diverse industry expertise into a single informative book. It provides practitioners such as wealth managers, bankers and investors with the answers they need to capitalize on this lucrative market. As a primer on WealthTech it offers academics clear insight into the repercussions of profoundly changing business models. It furthermore highlights the concept of the ongoing democratization of wealth management towards a more efficient and client-centric advisory process, free of entry hurdles. This book aggregates facts, expertise, insights and acumen from industry experts to provide answers on various questions including: Who are the key players in WealthTech? What is fueling its exponential growth? What are the key technologies behind WealthTech? How do regulators respond? What are the risks? What is the reaction of incumbent players? This book not only seeks to answer these questions but also touches on a series of related topics: • Get up to speed on the latest industry developments • Understand the driving forces behind the rise of WealthTech • Realize the depth and breadth of WealthTech • Discover how investors react to the growth in WealthTech • Learn how regulators influence the evolution of WealthTech business models • Examine the market dynamics of the WealthTech revolution • Grasp the industry’s potential and its effects on connected sectors • Build acumen on investment and entrepreneurial opportunities A unique product for the market place Digital transformation is creating game-changing opportunities and disruptions across industries and businesses. One industry where these game-changing opportunities will have profound impacts is wealth and asset management. For generations, wealth and asset management was a privileged service provided to co-operations and wealthy individuals. The informational advantages that wealth managers held vis-a -vis their clients provided a key competitive differentiator. In the current digital transformation climate, this differentiator is vanishing and the setting is changing. A top priority on the agenda for any wealth and asset manager must therefore be how to respond and prepare for the ramifications of this fast changing business environment. This book (one of the first to be published in this area) will provide the reader with a head start in adapting to this new digital environment.

ISBN-13: 978-1641138482
ISBN-10: 1641138483

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Tags: AI, Business Strategy, Fintech

The WealthTech Book
Wiley and Sons
April 15, 2018
+ I am co-author of this book! There are many other AMAZING co-authors besides me!
+ The WEALTHTECH Book: The FinTech Handbook for Investors, Entrepreneurs and Finance Visionaries
+ Get a handle on disruption, innovation and opportunity in investment technology

The digital evolution is enabling the creation of sophisticated software solutions that make money management more accessible, affordable and eponymous. Full automation is attractive to investors at an early stage of wealth accumulation, but hybrid models are of interest to investors who control larger amounts of wealth, particularly those who have enough wealth to be able to efficiently diversify their holdings. Investors can now outperform their benchmarks more easily using the latest tech tools.

The WEALTHTECH Book is the only comprehensive guide of its kind to the disruption, innovation and opportunity in technology in the investment management sector. It is an invaluable source of information for entrepreneurs, innovators, investors, insurers, analysts and consultants working in or interested in investing in this space.

ISBN: 978-1-119-36222-7

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Tags: Business Strategy, Digital Transformation, Fintech

The FinTech Book
Wiley and Sons
April 15, 2016
+ I am co-author of this book! There are many other AMAZING co-authors besides me!
+ The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries

The FINTECH Book is your primary guide to the financial technology revolution, and the disruption, innovation and opportunity therein. Written by prominent thought leaders in the global fintech investment space, this book aggregates diverse industry expertise into a single informative volume to provide entrepreneurs, bankers and investors with the answers they need to capitalize on this lucrative market. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned.

ISBN: 978-1-119-21887-6

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Tags: Business Strategy, Digital Transformation, Fintech

1 Keynote
SEVEN TYPES OF MOBILE WALLETS: UNDERSTANDING THE FUTURE OF DEBIT AND CREDIT CARDS
Seamless West Africa
November 05, 2019
Mobile Wallets represent the most disruptive of the 30 key emerging Financial Technologies
Metcalf's Law and Moore's Law: exponential versus linear adoption curves in financial services
From African Type Mobile Money to Scandinavian Wallets; From Asian Chat Based Payments to US Proximity Payments and beyond
The future of Mobile Wallets: smart watch, AR payments, VR Payments, smart lenses
FS Ecosystem 2.0: Neobanks, MNO Wallets, Tech Giant Wallets, Independent Wallets

David Gyori, Chief Executive Officer, Banking Report

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Tags: Fintech, Mobility, Risk Management

7 Media Interviews
Catapulting the FinTech March
Banking Frontiers
February 17, 2021
Catapulting The Fintech March : David Gyori

What is the new outlook of the latest trends, practices and opportunities in the Fintech Sector amidst the Pandemic? Catch Mr. David Gyori, the Founding member of the World Fintech Association along with Mr. Babu Nair from Banking Frontiers discussing the roadmap and the future footprint for transforming the entire Fintech Ecosystem Globally! He also discusses how the role regulators in the growth of the Fintech and the Banking sector.

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Tags: Business Strategy, Digital Transformation, Fintech

Fintech Innovations to look out for : David Gyori
Banking Frontiers
January 29, 2021
In an interesting conversation with Banking Frontiers Live, David Gyori, the Founding member of The World Fintech Foundation shares insights on how the association is creating a global ecosystem for the fintechs. He further shares inputs on what are the innovations to look out for and what are his favorite innovation areas in the BFSI sector. He also shares insights on the funding scenarios in the Fintech sector and the way forward

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Tags: AI, Digital Transformation, Fintech

The word is "Empathy" | AGI Inception Ep 9 | AI Podcast | David Gyori Fintech Influencer | On AiRR
On AiRR Podcast https://www.youtube.com/channel/UCWzVgwq4qr4AvdbhZouL1RQ
June 07, 2020
#AI #Fintech #ArtificialIntelligence
We had David Gyori a Fintech Trainer and Influencer his word was #Empathy
David had a very innovative perspective towards technology and the future society.
Artificial General Intelligence has to learn to be Empathetic towards all the living beings and fellow AI's

#Empathy #AGI #AGIInception #OnAiRR #Influencers #Techonology
#ArtificialGeneralIntelligence #AIPodcast #EthicalAi #EmpatheticAI #worldoftommorow #AlphaBetsCo #AutonomousAi #EmotionalAI

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Tags: AI, Business Strategy, Fintech

Achieving a Seamless Payments System in Nigeria
WebTV
April 26, 2019
Achieving a Seamless Payments System in Nigeria

In this interview with Proshare WebTV Mr David Gyori CEO, Banking Reports speaks on how Nigeria can attain a seamless payments system.

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Tags: AI, Business Strategy, Fintech

David Gyori from Banking Reports - Interview recorded at #EfmaDS17 conference
EFMA (European Financial Marketing Association)
June 02, 2017
The Distribution Summit in London addressed the most pressing issues regarding #distribution channels and #customer experience in #FinancialServices. With representatives from 39 countries having attended the event in London, we’re one step closer to disrupting the industry worldwide and creating the future!

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Tags: AI, Business Strategy, Fintech

EIAC Discusses FinTech with Mr. David Gyori
EIAC, Edinburgh International Asia Conference
May 22, 2017
EIAC Discusses FinTech with Mr. David Gyori

Interview after my panel participation at Look East Edinburgh international conference!
EIAC, Edinburgh International Asia Conference

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Tags: AI, Business Strategy, Fintech

What Should Bankers Know About Financial Technology
Risk Group LLC
December 19, 2016
David Gyori, CEO of Banking Reports from the United Kingdom participates in Risk Roundup to discuss “What Should Bankers Know About Financial Technology”

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Tags: AI, Business Strategy, Fintech

2 Trainings
Risk Management in the Age of FinTech
Masterclass Events
December 01, 2021
Course Background

Situation: Risk management is the core competence of banks since grain-loans have started 4000 years ago in Assyria. The number one lesson from the 2008 financial crisis was that understanding, measuring, and mitigating risks is even more important than some bankers perceived earlier.
Leading bankers around the globe now agree that financial technology is a strategic challenge and as a reaction they are bringing their banks through in-depth digital transition projects with great suc-cess.

Challenge: New, significant, yet often overlooked risks are rising along new technologies and the change is exponential. This is the time to understand, review, structure and proactively mitigate di-rect and indirect financial technology risks. Credit Risks, Market Risks, Operational Risks and Liquidity Risks are all being impacted by the change in the very nature of banking.

Solution: ‘Risk Management in the Age of FinTech’ is the global leading course to proactively prepare you and your bank for the new age of financial risks. We are combining the best of rock-solid tradi-tional risk management with cutting-edge forward-looking analysis of emerging financial technology risks. This course is equally valuable for bankers, regulators, legislators as well as risk professionals motivated in understanding the next generation of risks.

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Tags: Cybersecurity, Fintech, Risk Management

CRM Fundamentals and Practice
Banking Reports Ltd London and Pharos Training Turkey
November 21, 2021
This was a 5 day training program in Istanbul, Turkey!

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Tags: Business Strategy, CRM, Digital Transformation

Radar

Blog

1 Article/Blog
Ambidextrous Organization Strategy: 10 Factors of Success
Thinkers360
November 10, 2021

Building an Ambidextrous Organization is one of the best strategic answers to digital market disruption, yet corporations around the globe struggle to implement it successfully. Learning from case studies of traditional banks setting up digital-only subsidiaries I am sharing 10 factors of success delivering the Ambidextrous Organization Strategy! 

Allocate Over USD 1 Billion Over 7+ Years Into Your Digital Unit
#1 Factor of Success
Building a successful and profitable digital-only unit is very expensive and slow. Case studies in banking show that total investment has to be over USD 1 BN and minimum 7 years have to pass to break even. Corporate decision makers around the world typically underestimate the strategic magnitude and duration of this "project" by one magnitude. 

Make Sure Functional Areas are Present in Both Units Separately and Independently
#2 Factor of Success
After 50 years of massive mantra in mainstream management-literature of 'getting rid of redundancies' and 'have only and exactly one of each functional area in your organization' it is hard to cut your company into two horizontal units and duplicate every functional area. Yet this is the winning formula. A marketing department in your 'Business as Usual' Unit and a totally separate and independent marketing department in your 'Emerging Business' unit. And the same with HR, IT, Procurement, Legal, Compliance, Sales, R&D, etc. 

Manage Inter-Unit Conflicts Proactively
#3 Factor of Success
There are constant conflicts between the units. The Top Management of your organization must manage these inter-unit conflicts consciously and proactively. When USA Today set an 'internet journalism' unit up in the early 2000s the traditional journalists of the Business as Usual print unit were furious and claimed what the new unit is doing has nothing to do with what they call 'journalism'. Banks and other corporations setting up Emerging Business Units have to cross finance these heavily and over the course of many years from the profit of Business and Usual. This heavy and persistent one way street style, asymmetric cross financing between the units causes virulent conflicts which the top management has to proactively manage. 

Create and Tell Your Crystal Clear Strategic Narrative
#4 Factor of Success
Even the most practiced shareholders often have a hard time to understand 'why' you - the CEO - decide to create and Ambidextrous Organization. You have to have a very smart, honest, confident and balanced, public and open, sophisticated and simple Strategic Narrative to explain it. To explain it to: the board, to your colleagues, to the mid-management, to operative employees, to the shareholders, to clients, to potential clients, to the media, to the wider public, to vendors, to business partners, to suppliers and yes, even to competitors 'why' you are doing this. In order to do this successfully and build your first class strategic narrative you must be very familiar with the April 2004 article of Charles A. O'Reilly and Michael L. Tushman in Harvard Business Review (HBR) titled 'The Ambidextrous Organization'.

Define Different KPIs for Different Units
#5 Factor of Success
Business as Usual and Emerging Business have different tactical objectives. Therefore they need to have different KPIs (Key Performance Indicators). For Business as Usual profitability, CIR (Cost to Income Ratio), ROI and some other well known metrics are adequate. Yet, for Emerging Business these metrics are meaningless and even misleading in the first years. Number of Millennial and GEN Z users or number of clicks to onboard would be much more meaningful KPIs. This is how Emirates NBD - the market-leading retail bank in the United Arab Emirates - differentiates KPIs between its core business the digital-only banking unit set up in February 2017 under the brand name 'Liv'. 

Cherish Cross-Cannibalization Between Units
#6 Factor of Success
"What if some clients go from the old unit to the new one? We are cannibalizing ourselves!" I hear this line of thought very often from senior decision makers in banking, They intend to ue this as an argument against the ambidextrous structure. Thinking about it deeper it is quite apparent that this in fact is an argument pro ambidexterity. As a smart CEO from a major bank put it: "I want to make our bank the company which disrupts us." Make no mistake: Cannibalization between units is in fact the sign of loud success and meaningful transition. 

Avoid Stigma of Failure in Emerging Business
#7 Factor of Success
Fail often and fail fast. This is the new 'modus vivendi' (Latin phrase that means "mode of living" or "way of life") at times of disruption and market inflexion. Intel has set a New Business Unit up in an ambidextrous manner. Only 5 of their 48 projects in this unit succeeded. Avoid stigma of failure in your emerging business unit. Use pretotyping as a product-development method. (In a later Blog here in Thinkers 360 I will write about 'pretotyping'.)

Stretch the Brand as Far as You Wish
#8 Factor of Success
Go with the flow when it comes to branding your Emerging Business Unit. There are different schools here among consultants, pundits, advisors, executives, business schools and marketing gurus. Guess what? Empiric observations show that:
A. Using your original brand;
B. Using a new brand but with similar colors, shapes and characteristics as the original;
C. Using the original brand but with different colors;
D. Using a totally new brand with totally different characteristics but referring back to the old one such as 'Liv by Emirates NBD';
E. Using a totally independent brand without linking it to ypur Business as Usual.  
are equally efficient and good. Do not get stuck with making meticulous arguments for or against one of the above. This will not be a strategic factor. 
(*Empiric observations refer to my observations of dozens of case studies of banks and other financial services providers going ambidextrous.)

Keep Your Senior Team Perfectly Intact
#9 Factor of Success
While the two units have to be horizontally independent, they are connected by the senior management. Keeping the top management intact and impartially open towards supporting both units is key. Avoid the situation when Organizational Ambidexterity directly or indirectly divides your senior team. The philosophy of 'Divide et impera' was great for Caesar, but we are now 22 centuries ahead. 

Harness Your Past to Build Your Future
#10 Factor of Success
You past, your traditions, your incumbent position, your existing clientele are key resources to win your transition into your future. It is a mystery and a conundrum to me why - even some great - leaders often perceive the past of their company as something to cancel, delete, forget, unlearn, reverse and minimise. There is continuity between your company's past and future even if there is discontinuity and disruption on a market, industry and technology level. One of the beauties of The Ambidextrous Organization Strategy is that this strategy honors your existing business and uses it as a resource to build your future.

The Ambidextrous Organization Strategy is a powerful tool to make your company a winner of disruption! Yet many leaders fail to implement it the right way. Consider my '10 Factors of Success' and see you in the 22nd Century! 



See blog

Tags: Digital Transformation, Fintech, Business Strategy

Opportunities

1 Business
Consulting on Digital Transition in Banking

Location: London, Global    Date Available: November 17th, 2021     Fees: 2000 per day

Submission Date: November 04th, 2021     Service Type: Service Offered

Banks and bankers are struggling to strategize digital transition. I am advisor of multiple banks internationally on getting this billion dollar opportunity right!
I am expert on Clayton Christensen's Strategy of Disruptive Innovation as well as The Ambidextrous Organization Strategy and also I am an expert on Data Ecosystem Strategies in Banking.

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David Gyori