Changing banks, and money | Hubert Knapp, Chavanette from DigFin VOX

Changing banks, and money | Hubert Knapp, Chavanette

38 minutes Posted Jul 5, 2024 at 3:29 am.

– Hubert Knapp, Chavanette Advisors

– Hubert’s journey helping Asian banks go digital

– Why “digital transformation” is different today, the role of APIs, and the impact on banks and their people

– Core banking systems are in crisis and face new vulnerabilities

– Culture versus investment, and why banks are still talking about changing customer service

– “Shaky foundations” of focusing on UX and not the architecture

– Banks aren’t ready for DLT and other next-gen tech, but CBDCs will force them to change

– Why bankers should be excited about these changes, and why the Silicon Valley Bank collapse is a warning

– CBDC’s impact on commercial banking

– Chavanette’s views and how CBDCs will impact fractional-reserve banking

– Wholesale versus retail CBDCs

– Implications for e-wallets

– Is blockchain relevant?

– Expected developments and possible deployments

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CUSTOMIZE

Questions about the purpose of central-bank digital currencies (CBDCs) are more pressing than ever. What are they for? How should they work? What does a CBDC imply for commercial banks and e-wallet providers?

Hubert Knapp is managing partner at Chavanette Advisors, a boutique consultancy that is providing central banks with research and tools for a CBDC strategy. Knapp brings enormous experience, having spent a career in Southeast Asia helping commercial banks with digital transformation.

He speaks with DigFin’s Jame DiBiasio about those digital projects, why banks are still not ready for end-to-end digital capabilities, and why the advent of CBDCs will force faster and deeper change upon the banking industry.

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