Banks and FinTech on Platform Economies: A conversation with Paolo Sironi

When we first met a few years ago following the launch of his second book, FinTech Innovation, I looked to summarize Paolo’s achievements as a bestselling FinTech author, global industry Strategist, experienced quant and risk manager, international keynote speaker, successful startup entrepreneur and thought leader. In short: a true FinTech superstar. Fast forward to the end of 2021, he nothing but cemented this reputation.

He is the Global Research Leader in Banking and Financial Markets at IBM, Institute for Business Value. He is also a senior advisor for selected global accounts, assisting service teams in Board-level and C-level conversations about business model adaptation in platform economies. He still is a keynote speaker at major international events and he, of course, still writes books: following two more titles, he has now published his latest work, Banks and FinTech on Platform Economies.

We spoke about this plus a few other things and I hope you enjoy this conversation with Paolo Sironi!

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Listen to the conversation on Apple Podcasts, Spotify and anywhere else where good podcasts can be found or just click play below:

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Connect with Paolo:

Paolo’s website / Paolo on LinkedIn / Paolo on Twitter

 

What we talked about and when

 

01:00 Being a global jetsetter in times of a pandemic
02:00 The story behind his latest book on banking transformation and the human being in the consumption of financial services and what it takes to compete with Alibaba and Tencent
07:00 Platform economies in financial services and what’s in Amazon’s business model banks really should think about
09:30 On the shift of the output economy to an outcome economy and its impact on the transformation of finance
13:30 Why FinTech despite innovation, disruption and undeniable success stories has not managed to transform the financial services as we may have thought a few years ago and what financial firms need to do to change it
18:00 On the core message of the book to clearly define pull and push motivational gap
19:30 Trust building in financial services and how to approach it
25:00 Conscious Banking and Contextual Banking explained and their influence on financial services of tomorrow
27:30 How to plug in technology to transform human relationships
30:00 The challenge to change mentality in financial services
33:00 Unlocking the business value of hybrid cloud
39:00 Practical advice for the local bank and Square’s move for Tidal

 

 

 

Links, people and other interesting stuff from the Episode:

The Institute for Business Value at IBM where Paolo is the Global Research Leader in Banking and Financial Markets

The European edition of the Breaking Banks podcast Paolo co-hosts

An interview with Jeff Bezos on the early days of Amazon

Paolo’s books:

Capitects, the startup Paolo built and sold to IBM

Paolo’s keynote at the World Pension Summit on Financial Market Transparency

The IMF research paper Paolo mentions on “Financial Intermediation and Technology: What’s Old, What’s New?

The IBM Institute for Business Value research on how to Unlock the business value of hybrid cloud

Jack Dorsey, Block Inc and the acquisition of Tidal

 

 

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Join Jochen Heussner as The FinTechnologist in the conversation about the world of FinTech and all things related.

 

You can find all other episodes on this page and remember to subscribe to the podcast.

 

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The FinTechnologist theme song for the podcast is Geovane Bruno’s “Progresso”. Great stuff, isn’t it?