In the same way that digital downloads has crippled the mass market of vinyl and CD’s does Blockchain means the end of financial services and banking straight through processing and the accountancy service model? By reviewing the cost reduction culture of recent years it is understandable why the banking industry has become ripe for Lean Straight Through Processing (STP) and Business Process Outsourcing (BPO) Accountancy. But like other change and transformation activities embedding irrelevant processes in technologies, STP and then BPO accountancy is missing the essential point, they are no longer required if Blockchain is deployed. instead of building Blockchain in the image of Banks,Read More →

Karl Smith Experience Consultant

About Karl Smith Karl Smith works globally with directors, stakeholders and customers of multi-national enterprises across all verticals and technology stacks whose focus is on new concepts and capabilities that drive customer engagement, interaction and retention. He creates digital companies, strategies and services that drive customer centricity into the core of client companies, that in turn enable them to realise their ambitions to engage with and establish a consistent two-way communication and interaction with their customers. These new companies and capabilities are underwritten with tailored blue sky work, digital strategy, management consulting and program planning fitting to tight timescales, strategically correct, fully featured, useable, governable, scalable,Read More →

Investor High Level Processes

There are several types of on boarding that relate to both business and investors structure and size, their specific purpose for investing and their local regulatory constraints. The Main Participants I will be focusing on four main participants in this post financial advisers (FA) and investors (I), either or both of these may be constituted by companies, funds or individuals and para planners (PP), local office administrators (external or internal) (AD), company back office administrators (AD). Other participants are traders, local regulation, international treaties, company regulation, regulatory reporting, trustees, product managers and the security services. Financial Adviser The role of the financial adviser is shapedRead More →

This article is intended to review the current process problems that many investment and wealth management companies are attempting to solve. For many years these businesses have been wreathed in secrecy regarding how they do, what they do, often this has not been by choice but merely a by product of business processes that have not fundamentally changed in fifty years and in environments where technology is not considered as an enabler. The creation and management of investments have evolved into a complex time consuming and inefficient practice due to many complexities not only within financial advisory companies and people but also management services, financialRead More →

Information Systems

Blended Program Management I have been involved in project and program management since 1989 across various sectors and more recently have been focused in banking and finance. I have experience in Prince and Agile methodologies and will expand on the blending of these two methods through the use of user stories (a user experience method) and the positive relationship between waterfall and iteration components in the following parts of this post. Simply put (before getting into the detail) Prince and Agile = Delivery and in Banking and Finance they can give startling results. This will not be a shock to many people but I’m not goingRead More →

Requirements gathering in Banking change programs are over detailed, over long and for the most part undeliverable. There is and has been a huge requirement for change in British banking for several years as senior bankers have sought to lever the capabilities of technology and distributed workforces. This has in turn a great opportunity for IT consultancies to enforce their business models on the banks and make huge amounts of money without delivering anything. This has of course not gone unnoticed and forced many banks to increase their internal IT teams, but the problem remains, as the overall strategy is wrong. The current strategy forRead More →

A simple website may only include 8 top level pages, 50 secondary and perhaps only 300 tertiary labelled (taxonomy) navigation elements, that’s only 358 entities. However, Information Architecture tends to be associated with the structure and classification of websites, intranets and software that accesses in excess of 100,000+ separate entities to be classified. I have worked on several huge taxonomies for Government, Publishers, Colleges, Universities, Insurance Companies and Banks involved in trading that involve between 1,000,000 and 25,000,000+ entities. An Information Architect embarking on a new project will investigate if there is a standardised ontology for the project domain and conduct a content audit. AnRead More →

I have worked with a number of banks and financial services companies mainly in user experience and team management, I have also been involved in the development of new business models. I keep being asked to provide structure information for various clients so feel it simpler to make the enclosed structural diagram available here as it may also help digital agencies and new start-ups understand the relationship between various roles. Author Links linkedin: profile references: business twitter: userexperienceuRead More →