Podcast: Where will banking be in 20 years?

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In this edition of the podcast AccountingWEB’s business editor Tom Herbert is joined on a rather crackly phone line by chair and co-founder of international investment bank First Capital Hazel Moore.

Moore believes that with continual technological development there is a risk banks will essentially become a utility, with their services fragmented and commoditised.

We also discussed the role of challenger banks and the industry’s shifting attitudes towards them, and how future generations of accountants must react to keep up with the shifting banking landscape.

You can listen to the whole interview via the player on this page, by visiting our Soundcloud page or subscribing to this podcast via iTunes, aCast, Soundcloud or your podcasting app of choice.

 

About Tom Herbert

Tom is acting editor at AccountingWEB, responsible for all editorial content on the site. If you have any comments or suggestions for us get in touch.

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18th Nov 2016 12:05

What relevance does this have to a majority of practitioners, please?

First capital are mainly focused on M and A and Private Equity Capital etc.

Areas for the top ten firms...

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18th Nov 2016 20:53

Pretty sure we're all using banks at the moment and will be using them in 20 years time (if the Donald hasnt nuked us all by then). Who she works for is pretty irrelevant.

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to thegreatgrumbleduke
20th Nov 2016 12:57

Quote:
Who she works for is pretty irrelevant.

There are today, all different types of "Banks": most of our clients will be dealing with what we used to call Joint Stock or Clearing Banks (i.e. members of the Clearing Houses Association).

Seeking forward views, say on Paediatric Medicine from a Neurologist would not be much help.

Rattling on about Compliance is fine; but not relevant.

The main issue for the SME (a majority of our clients) will surely be the approaching Paradigm Shift in banking and more critically, potential financing from wholly Internet- Centric Money Centres, where cash and cheques will be a far distant memory; as will local Branch Offices, which themselves are now almost extinct...

The challenge, IMHO, will be raising operating capital and particularly, finance to fund receivables, as traditional overdrafts evaporate.

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to Michael C Feltham
21st Nov 2016 10:24

Thanks for that Michael, always interested in constructive feedback and sorry you didn't find it relevant to your practice.

The interview was designed as an overview of changes and how they will affect those working in both practice and industry, and therefore was deliberately broad in its scope.

The challenge around SME finance you've outlined is a fascinating topic and definitely one that we'll be exploring in the coming months.

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