Ungrouping and regrouping banking, with Manolo Sanchez
Financial technology startups often focus on a single financial service and optimize it. the result is that consumers are faced with a growing variety of providers for almost everything previously offered by a single institution. In this context, banks have the opportunity to become "supermarkets" of financial services, integrating and streamlining complex KYC processes for a multitude of single-product startups, says Manolo Sanchez, former CEO of BBVA Compass, in this episode of Banking (Remix). We also discuss why banks need to refocus on their core purpose and what the rise of decentralized finance means for traditional financial intermediaries.