Essays on rational absurdity of banking
Banks are diving headfirst into the digital age, eager to revolutionize their operations with cutting-edge technology. But beneath the sleek, modern facade lies a hidden “digital trap”—a complex web of outdated systems, spiraling costs, and endless customizations. This article uncovers the unseen challenges that deflate a bank’s push for digital change.
It seems obvious that any organisation will need to evolve in line with customer needs and competitive pressures. While ideas of change may be inspiring, execution without culture prep will deflate them as easily. Here are some lessons I have learned the hard way
By definition startup is a disruptor. Unless the startup idea is demonstrated to be scalable, there is no fun and sustenance. So, while banks look for ‘profit’, there is a critical mass a startup needs to acquire, much before they think profit.. The banker’s paradigm needs a shift to look at startup finding
The question of permitting Non-Financial Corporates (NFCs) into banking is well debated. While the jury is still out, the bias is clearly towards ‘NFC ownership of Banks is bad’. However the existing template of bank licensing that excludes NFCs’, is not without loopholes either. The moot points, therefore, are – does NFC ownership significantly increase the existing risks? and, can the risks be mitigated? In this article, we probe these questions, making a case for having NFC owned banks