Are Big Banks Hurting Competition, Innovation and Equality?
The largest banks have the biggest competitive innovation in today’s financial industry, says author James Bessen. That’s why the industry needs to democratize technology.
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FEATURING: James Bessen, author of the book, ‘The New Goliaths’
FEATURING: James Bessen, author of the book, ‘The New Goliaths’Competition in banking has expanded in the past twenty years, yet banking and technology giants are increasingly using proprietary technology and data-driven insights to tilt the playing field.
When smaller financial firms can’t reach the scale needed to compete effectively, there is potential for economic inequality, reduced social responsiveness, and less innovation.
My guest on the Banking Transformed podcast is James Bessen, lecturer at Boston University School of Law and author of the book, ‘The New Goliaths’. Jim shares his perspective that the largest firms have a major competitive advantage, and how democratizing technology, insights and innovation can level the playing field.
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About the Banking Transformed Podcast
In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.
