I have been lucky enough to get hold of a early copy of Digital Bank and have been reading it with glee over the last week and a half where life permitted.
I can honestly say this is one of the best books that I've read on the subject matter around what constitutes banking in the present, past and future. The book reads like a trip through the history and spans 70+ years of innovation to get us to the realisation that every bank must be a digital bank to be successful in the present. There have been paradigm changes and technology innovations through the piece which have had significant influence with the core purpose drifting for banks themselves.
I think the book will read well for both FinTech folk as well as people within the bank client space which is a rare thing. Usually these types of books are either evangelising the demise of the existing world order or protecting it but what Chris gives is a honest and balanced view with some great interviews from some of the key industry points of view.
Im left at the end of the book feeling both concerned and excited about the future of digital banking (or banking generally as the book points out) as there are some significant challenges and some excellent challengers to the current system. How lucky we are to be living and working in this industry through this era.
I look forward to the follow up in a few years and I'm sure the landscape will have changed dramatically by then!
I have a management accountancy background, experience in trading floor accountancy and systems improvement, as well as organising L&D for a team of investment researchers at the world's top fund manager. And along with my national general sustainable systems campaign activities, I am driven to identify L&D material that makes a profound difference to careers and systems. AND I CAN CONFIRM THAT THIS IS AN ABSOLUTE, ABSOLUTE MUST HAVE FOR ANYONE WITH AN INTEREST IN FINANCE AND/OR SYSTEMS.
This is a poor book. The opening section reads like a rambling stream of consciousness and it is impossible to discern any coherent structure. Some key messages are buried in what is repetitive and platitudinous prose. It also misses some remarkably obvious points - the need for bank branches will diminish as out use of physical coins and notes diminishes. The author omits to mention this along with many other obvious points about the cultural attitude towards money. If you are a professional and in the market for a factual, evidence based book that is written in business language, avoid this - there are other books out there which will give you the key facts in a way that is far more compelling and clear.
The interviews were interesting but the rest of the book reads like an overlong Powerpoint presentation, full of unexamined assumptions and managing to avoid any of the recent headline grabbing issues about systemic failure, regualation, corruption etc. A missed opportunity.