disruptive innovations in the banking system

Disruptive innovations are going to occur in the banking system. I’m not a guru in the sector (yet ;-)) but for many reasons it seams obvious to me. I feel there is a tremendous gap between the possibilities technology offers and what we end up using as clients.  There is also a huge gap between the European an American systems, and there will be endless opportunities in the developing world.

The current banking system is far from the real needs of real users. It’s not practical, functional, easy, transparent and flexible. Plus it’s expensive. It feels like we are treating with big guys with their established systems which are impossible to change.

But maybe not anymore. Maybe the banking crisis we’ve just lived, and the resulting lack of confidence in the existing banking system, will have a positive impact in the industry. Maybe it will be a booster for disruptive innovation and maybe people will be more open to try other possibilities once it’s been proved that the status quo is not infallible.

Someone has to fill these gaps. PayPal, Google and some more have good innovations, but I think they are still expensive and not good enough.

I’m starting to think about some of these disruptive changes, and to formulate how a practical, functional, easy, transparent, flexible and inexpensive bank should be.

What do you not like about your bank and how do you think it should work?

“because the people who are crazy enough to think they can change the world, are the ones who’ll do it”

Being surrounded by people following their passions and their dreams is a good inspiration for thinking about what one really wants to achieve in life, and about what you want to spend your time and your life on.

One of my grandfather’s wise advices is that “en el mar como en la vida hay que mirar alto y hay que mirar lejos” (“in the sea, as well as in life, you must look up and and you must look far away“). Have big aspirations, know where you are going, and look your life with long term perspective.

I often remember these advices when I need to take important decisions. I remember my dreams and try no to be submerged by the daily activity. I guess it’s important to realize that the things you don’t like are not going to change alone. No one says it’s going to be easy but, again, the biggest failure is not trying and the worse that can happen is 3 more months spent in learning that this was not the correct way.

These are my thoughts today… we’ll see how they materialize. And that’s a quote for inspiration:

“Here’s to the crazy ones, the misfits, the rebels, the trouble-makers, the round heads in the square holes, the ones who see things differently. They’re not fond of rules, and they have no respect for the status-quo. You can quote them, disagree with them, glorify, or vilify them. But the only thing you can’t do is ignore them, because they change things. They push the human race forward, and while some may see them as the crazy ones, we see genius, because the people who are crazy enough to think they can change the world, are the ones who’ll do it. “

Apple Computer advertising, 9/27/1997

changes

I’m changing my blog’s title into Barcelona – Silicon Valley. And I’ll soon change the picture too.

9-oct 9-dec was a first step into San Francisco and Silicon Valley. Now I’m back to stay. I’m still gonna talk about lessons learned, entrepreneurship and the wonders of the Valley, seen from a European perspective and knowing that even if this is the paradise for startups, Barcelona is the paradise for life :D.

I merged my English and Spanish blogs into this one and I’m still not sure in what language I want to write. I guess both.

This is a new beginning. Let’s see what it brings.