Bankloch

Much has been said about how GenAI and Low Code platforms are set to replace software engineering as we know it. And while it’s true these technologies can already generate large volumes of code, the reality is far more nuanced. The 80/20 Reality of Code Complexity : Software engineers typically spend 80% of their time on just 20% of the codebase - the most complex, business-specific logic. This "last mile" of coding is highly tailored and nuanced, making it the hardest to automate. While GenAI can generate the more routine 80% of simple code, the actual time saved is modest because that portion represents just a fraction of the engineering effort. Coding Is Just 25% of the Job : Writing code is only a quarter of what developers actually do. The remaining 75% is consumed by meetings, debugging, waiting for requirements, updating tickets, reviewing PRs, handling Slack or Teams messages, explaining tech debt, managing deployments, and context-switching. Even if AI revolutionize...

For decades, experts have predicted a   seismic disruption   in the financial services industry. At the start of the Fintech revolution, the consensus was clear: Fintechs would render traditional banks and financial institutions obsolete. Nearly 20 years later, most   incumbent players are not only still standing - many are stronger than ever . Instead of displacing the old guard, most Fintechs have repositioned themselves as strategic partners to traditional institutions. This is not to say Fintechs have not had a significant impact. On the contrary, their emergence pushed incumbents to   accelerate digital transformation , particularly in mobile and online banking. But this progress came at a cost. Most banks were unable to fully modernize their legacy infrastructure and instead layered new systems on top. The result? A complex, costly, and fragile web of technology. Beyond Fintech, several major   external shocks   have also shaped the financial services...

The internet is undergoing a   seismic shift  and the numbers say it all: 60% of Google searches now end without a click. Over 51% of all web traffic in 2024 came from bots, with OpenAI’s GPT bots accounting for 13% and Googlebot just 8%. Only 1 in 5 web visitors is now human. Companies lost $238.7 billion in bot-related costs in 2024. Wikipedia has lost over 1.1 billion monthly visits since 2022. Google’s search share has dipped below 90% for the first time since 2015, according to Statcounter. ChatGPT processes 1 billion queries daily (already 7% of Google’s volume) and dominates with 80% of the AI search market. These are not just SEO evolutions or the latest round in the search engine wars. They signal something much deeper:   a foundational shift in how people search, access and consume information online . People are no longer typing   disjointed keywords . They are engaging in   full conversations : asking questions, sharing context, and seeking advice in...

For decades, banks have fulfilled two core functions: Financial Intermediation : collecting deposits and channeling them into loans and investments. Payment Facilitation : enabling the smooth transfer of money between individuals and institutions. However, these traditional roles are becoming increasingly commoditized. The digitalization of money and banking services has stripped away many of the distinguishing features banks once relied on - such as in-person service and branch networks. Meanwhile, third-party providers and Banking-as-a-Service (BaaS) platforms now offer modular financial services that any institution can adopt, further eroding differentiation. The new generation of customers - more digital-savvy and less loyal - readily switch to providers offering better rates or superior technology. As a result: Competition has intensified , shrinking profit margins (e.g. reduced fees on international payments) and triggering aggressive price-based campaigns (such as high-yield sav...