Financial innovation

The connection between money and music

The banking and music industries share a similar challenge: staying relevant in the digital era

Can banks learn from how the digital era has reshaped the music industry?

Our Group Chief Information Officer, Dr Michael Gorriz, believes they can. “The music industry went through evolution. The vinyl record came up, the CD came up, and today that’s all gone. People still listen to music but they use streaming services. The question is whether we are the record store or the streaming services for money,” he says in this video.

It’s about bringing solutions to market faster and embracing the right technology, according to Dr Gorriz. “If technology helps, it’s perfect. If it doesn’t help, we don’t use it.”

Watch the video to find out more on how banks are innovating to stay ahead of customer expectations.

This video was created by BBC StoryWorks, the commercial content division within BBC Worldwide, and was originally published here (please note this link is not accessible in the UK).