Straight Talk Special Issue: Financial Services - 14

Conversation
with
Alan Hanson
Head of Americas Banking Financial Services

Information Service Group

Finding a New Vision for
Financial Services
Banks and other ﬁnancial services institutions face a
daunting array of digital challenges. In this interview, Alan
Hanson - Partner and Head of Americas Banking Financial
Services at ISG, the global technology research and
advisory ﬁrm - talks about what some ﬁrms are currently
doing to meet those challenges.

You wrote an interesting post a while
back about the impact of driverless cars
on the automotive sector. Could you give
us a similar 50,000-foot view of artificial
intelligence in financial services? Is there
a driverless bank in our future?
A driverless bank - that's an interesting notion. I think
some people might say they've always been driverless? I
will say that consumers deﬁnitely have a desire for a
much more consumer-focused experience with their
ﬁnancial institutions, less people-to-people and more
people-to-application. Why should dealing with my bank
be harder than dealing with Amazon?

14

Will the traditional financial services firms
be able to hang on to their brands without
that person-to-person connection? Or was
that never as important as people
thought?
Well, to a certain extent, there is a negative perception of
legacy banks. In fact, some have been trying to shed that
and cultivate an alternative brand identity, maybe
through acquisition - though it's not clear how eﬀective
this is. I was at an event where Dan Schulman, the CEO of
PayPal - itself hardly a stodgy legacy institution - was
talking about their services, and a relatively young person
in the audience stood up at the end and said, "I love this
product called Venmo. When are you guys going to
become more like them?" And Dan had to inform that
person that, well, PayPal owns Venmo. It is Venmo.
But yes, I think many banks do have a lot of brand loyalty,
which has a lot to do with credibility and trust. And you
don't want to get rid of that. Perhaps more important,

Straight Talk Special Issue: Financial Services

Table of Contents for the Digital Edition of Straight Talk Special Issue: Financial Services

Contents
Straight Talk Special Issue: Financial Services - Cover1
Straight Talk Special Issue: Financial Services - Cover2
Straight Talk Special Issue: Financial Services - 1
Straight Talk Special Issue: Financial Services - Contents
Straight Talk Special Issue: Financial Services - 3
Straight Talk Special Issue: Financial Services - 4
Straight Talk Special Issue: Financial Services - 5
Straight Talk Special Issue: Financial Services - 6
Straight Talk Special Issue: Financial Services - 7
Straight Talk Special Issue: Financial Services - 8
Straight Talk Special Issue: Financial Services - 9
Straight Talk Special Issue: Financial Services - 10
Straight Talk Special Issue: Financial Services - 11
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Straight Talk Special Issue: Financial Services - Cover3
Straight Talk Special Issue: Financial Services - Cover4
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