Challenger Banks
For decades, banking meant the usual suspects of big household names. There were national champions and only a few truly global financial institutions and almost no new entrants.
Technology and regulatory changes have ushered in an age of challenger banks. Banks that offer new products or repackaged existing products for retail and business customers. Will these challenger banks survive and what do they do that incumbents don't do?
Tim Harvey-Samuel spent more than 20 years in equity capital markets and teaches the Finance Concentration for the Cambridge MBA. He is on the board of UK-based challenger bank that caters to SMEs.
Dickson Ma worked in finance and the entertainment industries in Hong Kong and was part of the team that started Alipay's operations in Hong Kong. He also worked in livi bank, a virtual bank in Hong Kong.
Tim and Dickson will explore how challenger banks have flourished and the challenges that they will face.
00:00 Introduction
02:36 Why UK opened up to challenger banks
05:46 Trinity Hall creates a new business bank
07:10 Fintechs enter a crowded market in HK
11:03 Personal contact in business banks
14:16 Building credit data in HK fintechs
18:02 Microlending not taken off in UK and HK
23:17 Regulatory, economic and customer challenges
28:26 Incumbents not interested to compete
33:47 Culture clash between tech and banking
Technology and regulatory changes have ushered in an age of challenger banks. Banks that offer new products or repackaged existing products for retail and business customers. Will these challenger banks survive and what do they do that incumbents don't do?
Tim Harvey-Samuel spent more than 20 years in equity capital markets and teaches the Finance Concentration for the Cambridge MBA. He is on the board of UK-based challenger bank that caters to SMEs.
Dickson Ma worked in finance and the entertainment industries in Hong Kong and was part of the team that started Alipay's operations in Hong Kong. He also worked in livi bank, a virtual bank in Hong Kong.
Tim and Dickson will explore how challenger banks have flourished and the challenges that they will face.
00:00 Introduction
02:36 Why UK opened up to challenger banks
05:46 Trinity Hall creates a new business bank
07:10 Fintechs enter a crowded market in HK
11:03 Personal contact in business banks
14:16 Building credit data in HK fintechs
18:02 Microlending not taken off in UK and HK
23:17 Regulatory, economic and customer challenges
28:26 Incumbents not interested to compete
33:47 Culture clash between tech and banking
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