Bank-backed mobile policy group the Mobey Forum is to extend its remit to cover the profound shifts shaking up the dynamics of modern banking through a new 'Banking Disruption' work group.
The new group will expand on the association’s traditional work charting the evolution of mobile financial services, and will instead focus on exploring a wider range of issues encompassing lending, payments and personal finance management.
“There are so many points of disruption in financial services today that it no longer makes sense for us to zero-in on just one or two disruptive technologies,” comments Sirpa Nordlund, executive director, Mobey Forum. “Our members need a more holistic environment that enables them to explore, debate and learn from one another on a wider range of topics, from new business models and the value chains they create, to the array of digital channels and technologies that support them. The Banking Disruption working group reflects this need.”
The working group will be co-chaired by Zaf Kazmi, head of group mobile strategies at Erste Bank and George Charalambous, head of digital transformation at HSBC retail banking and wealth management.
Says Charalambous: “These are both testing and exciting times for banks; the sector is going through an unprecedented period of disruption. As always, the biggest winners will be those that are the most prepared. This new working group is designed to bring leading banks together in a bid to help them grow stronger, both as individual organisations and collectively as an industry.”