when I was young I read a lot of science fiction my favorite books was some
fiction my favorite books was some
fiction my favorite books was some islands in the sky
islands in the sky
islands in the sky it’s about this teenager who finds a
it’s about this teenager who finds a
it’s about this teenager who finds a loophole in a competition to go anywhere
loophole in a competition to go anywhere
loophole in a competition to go anywhere in the world and ends up on a space
in the world and ends up on a space
in the world and ends up on a space station orbiting it’s a fabulous
station orbiting it’s a fabulous
station orbiting it’s a fabulous fabulous book the reason I love science
fabulous book the reason I love science
fabulous book the reason I love science fiction is because it it gives you a
fiction is because it it gives you a
fiction is because it it gives you a glimpse of the future the reason I love
glimpse of the future the reason I love
glimpse of the future the reason I love technology is because it feels like
technology is because it feels like
technology is because it feels like we’re living that future today I was in
we’re living that future today I was in
we’re living that future today I was in Silicon Valley a few months ago in an
Silicon Valley a few months ago in an
Silicon Valley a few months ago in an uber which i think is a fabulous
uber which i think is a fabulous
uber which i think is a fabulous invention in itself and in front of us
invention in itself and in front of us
invention in itself and in front of us on the highway there was a self-driving
on the highway there was a self-driving
on the highway there was a self-driving car driving itself the guy hands off the
car driving itself the guy hands off the
car driving itself the guy hands off the wheel just this thing driving itself
wheel just this thing driving itself
wheel just this thing driving itself down the middle the road it’s absolutely
down the middle the road it’s absolutely
down the middle the road it’s absolutely incredible
incredible
incredible it felt like I was living part of that
it felt like I was living part of that
it felt like I was living part of that science fiction future I’d read so much
science fiction future I’d read so much
science fiction future I’d read so much about and then you come on to banking
about and then you come on to banking
about and then you come on to banking and it still feels like we’re living in
and it still feels like we’re living in
and it still feels like we’re living in a world that looks like this I signed up
a world that looks like this I signed up
a world that looks like this I signed up for my first bank account with Chesham
for my first bank account with Chesham
for my first bank account with Chesham Building Society
Building Society
Building Society about 1997 or something I think and like
about 1997 or something I think and like
about 1997 or something I think and like a little passbook and I’d go in with my
a little passbook and I’d go in with my
a little passbook and I’d go in with my check from my grandmother and I paid and
check from my grandmother and I paid and
check from my grandmother and I paid and they’d write her a credit and then one
they’d write her a credit and then one
they’d write her a credit and then one side sir saved up enough money I’d go in
side sir saved up enough money I’d go in
side sir saved up enough money I’d go in again to take my money out and buy
again to take my money out and buy
again to take my money out and buy football kit weather Wars and they’d
football kit weather Wars and they’d
football kit weather Wars and they’d write little debit and these credits and
write little debit and these credits and
write little debit and these credits and debits would sum to your balance and
debits would sum to your balance and
debits would sum to your balance and that was sort of what a bank account was
that was sort of what a bank account was
that was sort of what a bank account was and passbook about that big and in the
and passbook about that big and in the
and passbook about that big and in the intervening 15 or 20 years
intervening 15 or 20 years
intervening 15 or 20 years we got telephone banking where you could
we got telephone banking where you could
we got telephone banking where you could phone up and hear a list of credits and
phone up and hear a list of credits and
phone up and hear a list of credits and debits some to opponents and then you
debits some to opponents and then you
debits some to opponents and then you had internet banking where you can log
had internet banking where you can log
had internet banking where you can log on to a website and see a list of
on to a website and see a list of
on to a website and see a list of credits and debits that summed up to a
credits and debits that summed up to a
credits and debits that summed up to a balance please some two or three days
balance please some two or three days
balance please some two or three days out of date it didn’t really do anything
out of date it didn’t really do anything
out of date it didn’t really do anything you know more convenient I guess and now
you know more convenient I guess and now
you know more convenient I guess and now you have mobile banking little book
you have mobile banking little book
you have mobile banking little book about this big your mobile phone you log
about this big your mobile phone you log
about this big your mobile phone you log on and see
on and see
on and see credits and debits of some Saban’s about
credits and debits of some Saban’s about
credits and debits of some Saban’s about two or three days out of date doesn’t
two or three days out of date doesn’t
two or three days out of date doesn’t really do anything that to me seems like
really do anything that to me seems like
really do anything that to me seems like the sum total of of innovation in
the sum total of of innovation in
the sum total of of innovation in banking really not very much has changed
banking really not very much has changed
banking really not very much has changed your balance is out of date you get hit
your balance is out of date you get hit
your balance is out of date you get hit with fees and charges you go abroad and
with fees and charges you go abroad and
with fees and charges you go abroad and your card gets blocked for suspected
your card gets blocked for suspected
your card gets blocked for suspected fraud in a world where Google can make
fraud in a world where Google can make
fraud in a world where Google can make cars that drive themselves down the road
cars that drive themselves down the road
cars that drive themselves down the road my bank can’t tell me how much money I
my bank can’t tell me how much money I
my bank can’t tell me how much money I have in my account
have in my account
have in my account something strange seems to have happened
something strange seems to have happened
something strange seems to have happened in banking in a world that doesn’t look
in banking in a world that doesn’t look
in banking in a world that doesn’t look like this it actually looks more like
like this it actually looks more like
like this it actually looks more like this I think we’re on the brink of a
this I think we’re on the brink of a
this I think we’re on the brink of a huge revolution in retail banking and
huge revolution in retail banking and
huge revolution in retail banking and I’m going to tell you why so this is a
I’m going to tell you why so this is a
I’m going to tell you why so this is a I’ve been an unhappy net West customer
I’ve been an unhappy net West customer
I’ve been an unhappy net West customer for twenty years now I moved on from
for twenty years now I moved on from
for twenty years now I moved on from from Cheshire milling society about
from Cheshire milling society about
from Cheshire milling society about nineteen ninety eight and a number of
nineteen ninety eight and a number of
nineteen ninety eight and a number of things that annoy me about my bank this
things that annoy me about my bank this
things that annoy me about my bank this is one the way we rely on pieces of
is one the way we rely on pieces of
is one the way we rely on pieces of paper as proof of identity for your
paper as proof of identity for your
paper as proof of identity for your story my co-founder at monza a guy
story my co-founder at monza a guy
story my co-founder at monza a guy called Jonas is not a British system he
called Jonas is not a British system he
called Jonas is not a British system he came to live here and he wanted to sign
came to live here and he wanted to sign
came to live here and he wanted to sign up for a GP a doctor and he had to take
up for a GP a doctor and he had to take
up for a GP a doctor and he had to take in a paper statement a proof of identity
in a paper statement a proof of identity
in a paper statement a proof of identity he found it easier to forge a bank
he found it easier to forge a bank
he found it easier to forge a bank statement than actually get a paper
statement than actually get a paper
statement than actually get a paper statement delivered to him any child
statement delivered to him any child
statement delivered to him any child with a laser printer and a set of paper
with a laser printer and a set of paper
with a laser printer and a set of paper can conformance more easily than you can
can conformance more easily than you can
can conformance more easily than you can get your banker to send you a piece of
get your banker to send you a piece of
get your banker to send you a piece of paper for identity which seems a little
paper for identity which seems a little
paper for identity which seems a little strange when you have this kind of thing
strange when you have this kind of thing
strange when you have this kind of thing going on connect with Facebook what if
going on connect with Facebook what if
going on connect with Facebook what if that was connect with your bank what if
that was connect with your bank what if
that was connect with your bank what if you could take that verified identity a
you could take that verified identity a
you could take that verified identity a trusted relationship and take that to
trusted relationship and take that to
trusted relationship and take that to third parties so next time you go into a
third parties so next time you go into a
third parties so next time you go into a GP you just use a thumbprint to prove
GP you just use a thumbprint to prove
GP you just use a thumbprint to prove who you are what if you could access all
who you are what if you could access all
who you are what if you could access all of the data inside your bank account so
of the data inside your bank account so
of the data inside your bank account so instead of just being a dumb list of
instead of just being a dumb list of
instead of just being a dumb list of credits and debits it’s two or three
credits and debits it’s two or three
credits and debits it’s two or three days out of date it’s instead a useful
days out of date it’s instead a useful
days out of date it’s instead a useful list of your transactional history why
list of your transactional history why
list of your transactional history why might you want to do that well instead
might you want to do that well instead
might you want to do that well instead of going to money supermarket
of going to money supermarket
of going to money supermarket acting in your car insurance details you
acting in your car insurance details you
acting in your car insurance details you simply click to connect with your bank
simply click to connect with your bank
simply click to connect with your bank account and money supermarket would go
account and money supermarket would go
account and money supermarket would go in and tell you where you could save
in and tell you where you could save
in and tell you where you could save money and then with a single click help
money and then with a single click help
money and then with a single click help you change providers or alternatively if
you change providers or alternatively if
you change providers or alternatively if you’ve got two or three thousand pound
you’ve got two or three thousand pound
you’ve got two or three thousand pound spare an investment advisor could go in
spare an investment advisor could go in
spare an investment advisor could go in and move your money around for you using
and move your money around for you using
and move your money around for you using the smart technology AI and machine
the smart technology AI and machine
the smart technology AI and machine learning to help improve your life in
learning to help improve your life in
learning to help improve your life in some small way so also what I guess I
some small way so also what I guess I
some small way so also what I guess I think banking is on the brink of a
think banking is on the brink of a
think banking is on the brink of a revolution and I think the next company
revolution and I think the next company
revolution and I think the next company that’s the size of uber or Facebook or
that’s the size of uber or Facebook or
that’s the size of uber or Facebook or Google is going to be built on top of
Google is going to be built on top of
Google is going to be built on top of the banks I didn’t think any built by
the banks I didn’t think any built by
the banks I didn’t think any built by the banks I think they can be built on
the banks I think they can be built on
the banks I think they can be built on top of these api’s that are opening up
top of these api’s that are opening up
top of these api’s that are opening up to it’s a piece of legislation called
to it’s a piece of legislation called
to it’s a piece of legislation called payment service directive 2 which is 500
payment service directive 2 which is 500
payment service directive 2 which is 500 pages of fascinating read but what it
pages of fascinating read but what it
pages of fascinating read but what it means is that all banks have to open up
means is that all banks have to open up
means is that all banks have to open up functionality like this they have to
functionality like this they have to
functionality like this they have to help you take your identity in your
help you take your identity in your
help you take your identity in your transaction data to third parties so you
transaction data to third parties so you
transaction data to third parties so you can access that data and share it and
can access that data and share it and
can access that data and share it and get benefit from it and so the net the
get benefit from it and so the net the
get benefit from it and so the net the next view or face book is going to be
next view or face book is going to be
next view or face book is going to be built on top of those api’s and perhaps
built on top of those api’s and perhaps
built on top of those api’s and perhaps the next founder of those companies is
the next founder of those companies is
the next founder of those companies is sitting in the audience so if you’re
sitting in the audience so if you’re
sitting in the audience so if you’re looking for something to do from 2018 go
looking for something to do from 2018 go
looking for something to do from 2018 go and have a look at this piece of
and have a look at this piece of
and have a look at this piece of legislation and perhaps think about
legislation and perhaps think about
legislation and perhaps think about building the next goober or Facebook or
building the next goober or Facebook or
building the next goober or Facebook or Google on top of your banking data thank
Google on top of your banking data thank
Google on top of your banking data thank you
you
you [Applause]
”
Be First to Comment