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I'm sorry but I disagree with your description of Omnichannel Banking, both at the generic level of definition and specific level of use cases.

As I highlighted in From Multichannel To Omnichannel And Beyond, Omnichannel does NOT mean supporting every business process on every channel BUT splitting a single business process across multiple channels in such a way that each channel leverages its strength and the customer finds each hop natural. Ergo, Omnichannel Banking is not even expected to fulfill your expectation of being "more than just providing customers with the same set of services across multiple channels." What you're expecting is the definition of Multichannel Banking, not Omnichannel Banking.

Coming to your first use case of "customer losing their card on holiday". Note that you've said "card" in singular. Why the heck should the bank block all the cards (plural) in response? IMO, that would be a disaster, not a great example of what you call "seamless omni-channel experience" at all.

Coming to the next use case of letting a customer make a purchase if "they do not have the funds available to complete a purchase", that's exactly what Credit Card has been doing for 50+ years. What role does Omnichannel Banking play in that?

There are some banks who deliver a good Omnichannel Banking experience on top of Mainframe CBS and some other banks who deliver a lousy Omnichannel Banking experience - or no Omnichannel Banking experience at all - on top of Java CBS. Legacy or Open Systems Core Banking System is just the cards a bank is dealt with. How it plays them to deliver Omnichannel Banking - or virtually anything else - is a wholly different topic. Core Transformation could be a needless diversion for many banks, as McKinsey warns in its article where it gives the example of a bank that decided to rewrite its core because it wanted to use the latest tech and had to shelve its project after €100M investment because the new tech was not stable and had fatal flaws.

The correct link: 

https://themargins.substack.com/p/robinhood-and-how-to-lose-money

“Account access through a browser is highly requested by our customers." Glad I'm not the only one. 

To paraphrase @ranjanxroy from https://themargins.substack.com/people/6361496-ranjan-roy… : "If I wasn't sitting at a desk, ...fully at attention, it was best not to make a payment from my bank account." That's one reason I avoid UPI & any mobile payment app that's linked to bank account.

Nice post. Disruptionistas claim that Apple Pay, PayPal, Starbucks Mobile App et al will kill cards and try to pull wool over the common man's eyes. But we all know that these PSPs run off of the same credit cards and debit cards that they were supposed to kill. End of the day, card account is very much alive, at most what has happened in a shift in its form factor from plastic to mobile to apps. The title of this post captures that truth very succinctly.  

Is this different from Debt Consolidation? When I wrote Debt Consolidation Comes To India on my personal blog ten years ago, the business was quite common for many decades in UK, USA and other developed nations.

There's duplicate work for borrower receiving multiple collection missives from multiple lenders, hence I see a play for debt consolidation from borrower pov.

But, each lender is chasing its own loan, so I don't see duplicate work from lender pov - or a play for consolidating collections from lenders' perspective therefrom. 

Smart Contract itself. Then smart contract consulting, stamp duty for smart contract (yes, that's a thing, as I highlighted in Flight Delay Insurance - Why Blockchain?).

What are these if not intermediaries - and sources for costs?

It's a myth that Smart Contract eliminates Middlemen. It just changes the Middlemen. Blockchain - Calling BS On Decentralization And Resilience.

IMO, more and more people have cottoned on to that. That's why smart contract hasn't lived up to its hype. In real estate industry - or any other industry for that matter.

By not talking about SCA?

https://www.finextra.com/news/fullstory.aspx?newsitemid=37012

"Despite widespread distrust of high-street lenders". I don't know on what basis the article / cited report makes such a confident assertion. Even taking it at face value, how does distrust have anything to do with Open Banking adoption? It's not that Open Banking is creating alternatives to traditional banks.

I earlier highlighted that EU style Open Banking is premised on a flawed assumption viz. bank customers want to unlock value from their banking data when US-style Open Banking clears shows it's about compelling features / functionality / apps that happen to need banking data access.

That was another axiomatic flawed premise. This one about distrust is another. Looks like EU OB proponents never learn from their series of misconceptions. 

LOL maybe banks read my last year's message on Twitter and decided to send "slick lobbyists" to Brussels! I won't claim any credit for "magic circle lawyers", though!!

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Open Banking is an epic failure of Big Bank lobbying. I'm looking forward to similar regs in other industries that will force Amazon to share customer data with Walmart, Verizon with AT&T, Google Search & LinkedIn with 3rd party apps.

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No talk of convenience-killer SCA despite the epipany moment that "Digital payments should be synonymous with convenience"?

Oh, wait a sec.

One panel felt Open Banking will be a success when we stop talking about it and this panel is perhaps hoping that SCA will be a failure if we stop talking about it?

On a side note, customers may not care about who the provider of a loan is but they surely care about who the provider of insurance - and many other BFSI products - is.

Talking about cheese pizza may be cool but forgetting the basic principles of banking is not so cool.