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The real storm is coming

Louis Blatt

Chief Product Officer

Tuesday, September 15, 2009

As the typhoon raged over us here at Sibos last night, I couldn’t help but think of the new storm that is brewing over the western banks as we speak. The reason I thought this was that ironically the cause of this storm is here in Asia.

As an active player in the Asian market, we have been cautiously optimistic to see our Asian customers and prospects reiterating the confidence and opportunity they see ahead. These banks have embraced agility, they understand that customer service is king and devote time and energy into customer loyalty.

It is not, of course, that Western banks are ignorant of these principles. However, it is clear from discussions over the past few months, reflected strongly in the output of the first day of Sibos, that cost cutting rules the Western agenda and all else takes a very low priority.

This is a dangerous position to take that will breed opportunity for those banks that are prepared to make investments in technology to improve customer service, such as is being seen in Asia.

So my thoughts on the first day of Sibos are that Western banks need to quickly understand that cost cutting in the payments area must be balanced with revenue-generating customer-centric agility. For the up-and-coming Asian challengers, victory will also lie in embracing agility to outflank their competitors. Yes, it’s the same message but approached from two completely different angles.

So batten down the hatches, the competitive storm is coming.

Louis Blatt
Chief Product Officer

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Comments

  • Josef
    Wednesday, October 30, 2013

    The future of plunishibg is a very interesting topic. One reason I support Infowars over the mainstream media is because I have not seen much support in the mainstream media of parents whose children have been wrongfully taken from them by State Agencies. Next to death, there can be nothing more painful or wrong that can happen to a family. Where is the media? Why is this crime against the family still being litigated in civil courts in secrecy? Taking a child from a parent should only be allowed in a criminal court with the full rights of any citizen. Shame on you evil perpetrators and shame on the churches and media who are not exposing this evil.The only reporter who shows the proper amount of indignation at the crimes our government is perpetrating against us citizens is Alex Jones. Where is the rest of the media? Children are being badly treated by employees of school districts and expelled for riduculous reasons. Children are being removed from school so that the district does not have to hire more teachers, Hiring more teachers would cause the remaining teachers to divide the available money for education and lower salaries. Where is the story?I also have not seen much support of citizens who have been brutalized by the police except in the infowars sites. I personally have been brutalized by the local jailers at the women's jail. They handcuffed and shackled my feet together after an arrest while I was on my way to a local governmental meeting as an elected official. The police can intimidate government officials and get away with it in Winnebago County? I was covered in bruises! I contacted the rrstar and the county board about my treatment. No story appeard in the rrstar. A story by the arresting police officer making me appear to be guilty without my side ever being heard appeared in the rrstar. What is wrong with the editorial staff of this paper?And why is it that there is no outrage expressed in any editorials toward elected officials who make promises and totally go a different direction after being elected?

  • Maria
    Saturday, November 23, 2013

    In the scheme of tihngs, it would make sense that the new administration would put a high priority on lowering credit card rates. That is a large part of the bankruptcy problems. If you contact the credit card company and tell them you can't pay at that rate, many times they will lower it for you. Ask to speak to the supervisor or manager.