‘Feel the fear, and do it anyway!’ It’s a catchy lifestyle slogan for many people, but don’t expect banks to go along with that sentiment. It may be OK for someone about to bungee jump for charity, but of course we don’t expect or want our financial institutions to be quite so gung ho.
The strange thing is however that in financial services, the market is now leading the banks in terms of trying new ways of doing their banking. As more and more people use pioneering channels to transact with each other, the banks are being left behind. People have ‘felt the fear’ of embracing new technologies, but they’ve done it anyway, and found that it’s to their liking. You only have to look at the rise of Ebay and Amazon (among many others) to see that the way we all do business has changed dramatically.
And yet banks are still a necessary, but cumbersome block – the pipeline that transactions must go through, but which slow down progress and get in the way of innovation. Principal of these pioneering channels is the use of cryptocurrencies and the blockchain, but even in their methodology, banks refuse to look at these technologies, and are still operating in the stone age. These days everyone except the banks lives on their smartphones, and expects the world to be delivered to their fingertips via sophisticated and easy-to-use apps. The world has become digital, with digital products for digital customers, sold through digital channels. However if the traditional banks have noticed this at all, they’re keeping very quiet about it.
In fact the traditional banks are increasingly making enemies of their own customers, who simply want to add crypto to their wallet and use it in their daily lives without any obstacles. They need to do this for wealth creation, payments and transfers, to make loans, or use savings products. The mainstream media, and most traditional banks portray this sort of activity as borderline criminal, and well beyond their comfort zone. So the banks are fighting to stay where they are, and avoid building risk and treasury for crypto currency and other functions.
Recognizing the gap between what customers want and what other banks are willing to deliver, we offer an entirely new approach to banking – the ‘Any Asset’ bank. Founded by three very experienced C-level bankers, with an impressive backline of financial Advisors, B52 brings a fresh approach to the market by offering the seamless integration of crypto, fiat and other assets. For the first time ever, banking will have caught up with the demands of contemporary customers, by delivering a technology-rich ecosystem which not only surpasses conventional bank offerings, but brings in whole new areas of services.
Merchants, Tech, FinTech and companies joining a future bank in Europe ? – please write to: firstname.lastname@example.org
Further reading at:
7 Reasons Why Amazon Is So Successful
The Real Reason Banks Don’t Like Bitcoin
FinTech: What’s in it for financial inclusion?