Newspapers versus Music: The end of commercial and investment banks
as we know them
First 15-20 minutes is for networking Sandwiches and Beverages included
Hosted by the China Business Committee and Financial Services Committee
Technology is changing the face of banking at lightning speed. By market cap and by deposit taking, can you guess which is one of the largest banks in the world? Tencent. What bank offers the widest array of financial products in China and is seen as one of the savviest financial institutions globally? Alibaba.
What is the fastest growing bank in the world and taking in millions of new customers each day? It is called the mobile phone. What new form of deposit is 98% cheaper than deposits from a bank? The cell phone.
The digital revolution is cutting into every single slice of business in both commercial and investment banking. And yet, their large size and inertia almost paralyses them. Which banks will die like the newspaper industry and which banks will win like the music industry? Mr. Paul Schulte will discuss the current trends and the future of digital banking.
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong