Tom Stafford of DST Global on What Does A Global Bank Look Like
Tom Stafford, Managing Partner at DST Global, spoke about the future of banking at the MoneyConf event. Stafford spoke about the impact of technology on the banking industry and how DST Global sees the future of global banking.
Stafford began his presentation by acknowledging that banks have been slow to adapt to technological change. However, he believes that the banking industry is now in the midst of a revolution. Stafford said, “We’re at the very beginning of the transformation of the financial industry, where technology is going to change every aspect of it.”
Stafford also touched on the importance of customer experience in the banking industry. He noted that traditional banks have been able to keep customers because of their established reputations, but now new companies can offer a better customer experience. “People are not loyal to banks, they’re loyal to experiences,” Stafford said.
When it comes to the future of global banking, Stafford emphasized the importance of data. He said that DST Global is interested in investing in companies that use data in innovative ways to disrupt the banking industry. “We’re really focused on businesses that are using data to change the way financial services are delivered,” he said.
Overall, Stafford’s presentation focused on the idea that technology will continue to transform the banking industry, and that the companies that succeed will be those that focus on customer experience and innovative use of data.
In conclusion, as Tom Stafford of DST Global pointed out, the financial industry is just beginning to undergo a major transformation. Technology is changing every aspect of banking, and companies that are slow to adapt risk falling behind. Stafford’s emphasis on customer experience and innovative use of data is a clear indication of where DST Global sees the future of banking. As the industry continues to evolve, it will be interesting to see how traditional banks and new startups respond to the changing landscape.