Anthony Jenkins at Money20/20 says bank branches will be as common as Blockbusters in about ten years time, while urging banks to keep up with the pace of technology advancement including AI, blockchain, and open data infrastructure.
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Ex-Barclays chief says banking could face its own ‘Kodak moment’; urges banks to embrace fintech
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Among the recommendations Jenkins and Bussman have made for this banking 'transformation' are open banking platforms which allow third parties to manage their finances, blockchain technologies like artificial intelligence and cryptocurrencies, and headhunting for experts in areas of AI, big data, distributed ledger technology, and cybersecurity. After Jenkins was ousted from Barclays, he created a fintech business called 10X Future Technologies in 2016. Following Bussmann's departure from UBS, he founded the fintech firm Bussmann Advisory.
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