O'Reilly logo

Digital Bank by Chris Skinner

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

DIGITAL BANKS FIGHT DATA WARS

Data is the future competitive battleground for banks. In fact, as stated much earlier in this book, data is the battleground of today but many banks are yet to realise this. Admittedly, some banks did acknowledge this years ago:

“Information about money has become almost as important as money itself.”

—WALTER WRISTON, CEO/Chair, Citibank, 1967–1984

“Banking is just bits and bytes.”

—JOHN REED, CEO/Chair, Citibank, 1984–1998

However, most banks have not, not even today.

When they do, banks will move towards data being their most critical asset—above capital and labour—and consequently will move into data wars with the heavyweight data managers of Google, Amazon, Facebook and more.

HOW VALUE CHANGES: BEFORE IT WAS ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required