Money20/20 Europe

Innovation in banking is rich in the language of ecosystems, partnerships and collaboration. It creates an illusion of inclusion, at the business end of the spectrum, and an openness to RnD and exploration without a razor sharp focus on PnL.

Business model innovation departments and a variety of activity, from investment to JVs, in propositions that make money differently to the core also creates the illusion of openness and fluidity. But the whole point of innovating was to stay in the game, to make money, to keep ahead. So all this openness is either not fully real or fully misguided.

It is time we discussed monetisation models and the challenges some partnerships present to making money. It is time we talked profitability structures and playing the same game by the same rules. And it’s time we all said what we really think about when and how you should talk money when speaking to a startup, a customer or a banker.

It’s what we are here for and it’s not a dirty word.