What is Dinosaur Revolution ?
“Banks are dinosaurs … we can bypass them” – Bill Gates, 1994
The idea behind dinosaur revolution is to provide a banker/dinosaur’s outlook at the fast-changing world of transactional banking and financial services provided to B2B (Business to Business) companies. If you are reading this, you have seen this incredible landscape and want to know more about how this actually works.
This blog intends to inspire you and spark your curiosity for the various solutions like Trade Finance, Cash Management, Payments and Foreign Exchange. Since the area is cluttered with a lot of noise and beginners find it difficult, the intention is to try and distill very complex subjects into bit sized pieces. We should have a major interest in summarizing the financial and operational parts of banking and educating as many people about it.
The idea is to provide in 2 broad categories
1. Frameworks and Summaries
Since the nature of transactional banking is quite complicated, I would endeavour to put in place summaries and frameworks by initially over-simplifying and putting in place a foundation where I can add in nuance and complexity later on. Step by step this would help my readers getting towards the real gist of the complicated subject
2. Views on the next generation & technologies
Around 10 years ago, it was possible to be knowledgeable at an expert level in various fields but the past couple of years has made it a futile endeavour since there are new technologies and data is increasing exponentially. There are lots of hype and noise around various subjects especially on “digitalizing banking”. I have seen how various technologies like Blockchain have been promised to be the next big thing. There have also been varying amounts of re-branding or applying new coats of paint to existing technologies. I have realized that besides the ease of technology, the timing and acceptance also matters in the market. One of the big trends which I had missed was seeing the impact of companies like Stripe, Square etc. which have built their solutions to cater to the “internet economy”. In some of the blog posts, I would seek to understand and give my views on the trends.