Breaking Banks

Trust, Value & What It Means To Be Digital in Banking


Listen Later

In This Episode
Regular listeners of Breaking Banks are likely familiar with the Killing It series, hosted by Jason Henrichs and Alex Johnson, where they explore candid stories of success, failure, and the pivotal and sometimes tough decisions that drive the journey from VCs to unicorns in the high stakes world of entrepreneurship. (If you’re not, check it out!)
In this episode, Brett King shifts gears with a “Starting It” theme, sitting down with industry veteran Anthony Thomson —an entrepreneur, marketer, speaker, author, and founder of Metro Bank, Atom, and 86 400. Metro Bank challenged traditional banking in the UK, while Atom and 86 400 brought innovation as neo-banks in different markets, with 86 400 later acquired by NAB (National Australia Bank) and then merged into UBank.
Join this enlightening discussion as Brett and Anthony dive into the unique missions and lessons behind each of these groundbreaking ventures. And who knows? You might even get a sneak peek at the next big breakthrough in the industry! 
Read the entire transcript here.
Podcast Content:
Chapter 1: (00:00) - Introduction and Setting the Scene
Brett King and Jason Henricks open the episode, reflecting on their history of exploring financial disruption. Special guest Anthony Thompson joins from Abu Dhabi, sharing memories of past debates on the future of banking.
Chapter 2: (03:45) - The Genesis of Metro Bank
Anthony recounts his journey from marketing in financial services to founding Metro Bank. The discussion highlights how Metro Bank disrupted traditional banking by focusing on customer-centric value and trust.
Chapter 3: (12:30) - Cognitive vs. Associative Trust in Banking
The hosts and guest delve into the dual dimensions of trust: competence versus intent. Anthony explains how Metro Bank leveraged customer-centric policies, like dog-friendly branches, to foster associative trust.
Chapter 4: (20:15) - The Shift to Digital Banking
Anthony reflects on the rise of digital banking, including his transition to founding Atom Bank. The conversation examines how mobile banking became the cornerstone of modern financial services.
Chapter 5: (28:50) - Building Atom Bank
The discussion explores Atom Bank’s founding principles, focusing on delivering a superior mobile experience and balancing liabilities with assets. Anthony contrasts Atom’s approach with competitors like Monzo and Starling.
Chapter 6: (40:00) - Lessons Learned and 86 400
Anthony describes his move to Australia to establish 86 400. He shares how lessons from Atom influenced his strategy, particularly the importance of engagement and transaction accounts.
Chapter 7: (51:30) - Challenges in Traditional Banking Transformation
The conversation shifts to why traditional banks struggle with digital transformation. Anthony and Brett critique cultural and regulatory hurdles faced by legacy institutions.
Chapter 8: (58:10) - The Role of Regulators in a Digital World
Anthony discusses how regulators worldwide are adapting to digital banking innovations, emphasizing the importance of competition and better consumer outcomes.
Chapter 9: (1:06:20) - Reflections and Future of Banking
Anthony shares his hopes for the future of banking, emphasizing customer-centricity as the industry’s ultimate goal. Brett and Anthony speculate on the next breakthrough, pointing to adjacencies and AI in banking.
Chapter 10: (1:12:50) - Closing Thoughts and Takeaways
The hosts summarize the key themes of the episode, including trust, customer value, and the evolution of banking. They close with a call to action for listeners to engage with the podcast and its community.
Related Content:
Big And Small Preparing For Shifting Generational Expectations
Episode 17: You can bank on it: trust and winning customers from incumbent banks
Episode 550: Cease and Desist
Build The Necessary And Useful ...
...more
View all episodesView all episodes
Download on the App Store

Breaking BanksBy Breaking Banks - The #1 Global Fintech Podcast

  • 4.6
  • 4.6
  • 4.6
  • 4.6
  • 4.6

4.6

189 ratings


More shows like Breaking Banks

View all
WSJ What’s News by The Wall Street Journal

WSJ What’s News

4,365 Listeners

The McKinsey Podcast by McKinsey & Company

The McKinsey Podcast

391 Listeners

The Knowledge Project by Shane Parrish

The Knowledge Project

2,674 Listeners

Getting In: A College Coach Conversation by Bright Horizons College Coach

Getting In: A College Coach Conversation

281 Listeners

a16z Podcast by Andreessen Horowitz

a16z Podcast

1,088 Listeners

CFO THOUGHT LEADER by The Future of Finance is Listening

CFO THOUGHT LEADER

129 Listeners

Innovating Leadership: Co-Creating Our Future by Innovative Leadership Institute

Innovating Leadership: Co-Creating Our Future

148 Listeners

Civil War Talk Radio by Gerry Prokopowicz

Civil War Talk Radio

59 Listeners

Masters of Scale by WaitWhat

Masters of Scale

3,982 Listeners

Y Combinator Startup Podcast by Y Combinator

Y Combinator Startup Podcast

228 Listeners

How Leaders Lead with David Novak by David Novak

How Leaders Lead with David Novak

577 Listeners

The Forbes Factor - Your Secret to health, wealth & happiness! by Forbes Riley

The Forbes Factor - Your Secret to health, wealth & happiness!

35 Listeners

Behind the Money by Financial Times

Behind the Money

225 Listeners

The Sexy Lifestyle with Carol and David by Carol and David

The Sexy Lifestyle with Carol and David

111 Listeners

Cat Talk Radio by Molly DeVoss and Dewey Vaughn

Cat Talk Radio

65 Listeners

The Sexy Lifestyle with Carol and David by Carol and David

The Sexy Lifestyle with Carol and David

14 Listeners

The Next Big Idea by Next Big Idea Club

The Next Big Idea

1,278 Listeners

The Insider's Edge To Real Estate Investing by James Nelson

The Insider's Edge To Real Estate Investing

72 Listeners

Hard Fork by The New York Times

Hard Fork

5,476 Listeners

Me, Myself, and AI by MIT Sloan Management Review

Me, Myself, and AI

105 Listeners

Product Thinking by Melissa Perri

Product Thinking

147 Listeners

Men’s Therapy Podcast by Marc Azoulay

Men’s Therapy Podcast

26 Listeners

Moody's Talks - Inside Economics by Moody's Analytics

Moody's Talks - Inside Economics

297 Listeners

Beyond The Prompt - How to use AI in your company by Jeremy Utley & Henrik Werdelin

Beyond The Prompt - How to use AI in your company

57 Listeners