American Monetary Association 347: Digital Human & Digital Bank, launch a digital bank by Chris Skinner
Jason Hartman is joined today by Chris Skinner, Chairman at the Financial Services Club and founder of Finanser. Chris has authored the books: Digital Bank: Strategies to Launch or Become a Digital Bank, Digital Human: The Fourth Revolution of Humanity Includes Everyone, and Doing Digital: Lessons from Leaders.
Jason and Chris talk about the future and the role that technology plays in it, or the lack of a role for humankind. This tech-talk touches on modern banking technology, how to start a bank with $50k. Lastly, robotics and philosophy. What is our purpose when work is in the hands of robots?
Key Takeaways:
[2:15] Banks have been challenged technologically because they have not updated their systems
[4:00] Antiquated banking systems are often referred to as spaghetti structures that need updates recently forced by COVID-19.
[5:30] Big banks are too big to fail.
[8:00] What makes Stripe such a standout business regarding FinTech Companies?
[12:30] Everyday living is in the new hip and cool bank.
[13:45] Can anyone launch a digital bank?
[17:00] Switching gears to robotics and technology in the future.
[20:00] There have been two significant behavioral shifts immediately since this lockdown.
[23:00] On robotics and essential work, what happens when people no longer need to work?
Websites:
1-800-HARTMAN