Tom Stafford of DST Global recently shared his thoughts on the future of global banking during his talk at the MoneyConf event. Stafford emphasized the importance of technology in transforming the banking industry, saying that “the future of banking is really about technology, not banking.”
According to Stafford, global banks must prioritize technology to remain competitive in the industry. He stated that “banks need to start thinking about how to leverage technology to make themselves more competitive. This includes investing in technologies like blockchain, artificial intelligence, and machine learning.”
Stafford also highlighted the importance of customer experience in banking, stating that “the future of banking is about making it as easy as possible for customers to access financial services.” He added that “banks need to be more customer-centric, and this means investing in omnichannel solutions that allow customers to interact with their bank through any channel they choose.”
Stafford was optimistic when asked about the role of traditional banks in the future of banking, stating that “traditional banks have a lot of advantages that new entrants don’t have, such as established customer bases and regulatory expertise.” He added that “banks need to embrace technology and become more agile to compete with new entrants in the industry.”
Overall, Stafford’s talk emphasized the importance of technology in transforming the banking industry and highlighted the need for banks to be customer-centric and embrace new technologies to remain competitive. As he put it, “The future of banking is not about banking; it’s about technology and the customer experience.”
In conclusion, Tom Stafford of DST Global believes that the future of global banking is inextricably linked to technology and the customer experience. Banks prioritizing these factors will be better positioned to compete with new entrants in the industry and provide customers with the financial services they need.