Correspondent Blog

Last week, JP Morgan opened banking’s first presence in the metaverse within the blockchain-based virtual world of Decentraland (go HERE for a primer). The “Onyx Lounge,” named after the Bank’s blockchain product, comes complete with a roaming tiger greeting visitors and an ironic portrait of CEO Jamie Dimon, who has been a crypto naysayer. Now,…

Most bankers have a hard enough time lending on real estate, let alone real estate that is not physically there in the “metaverse.” However, before you decide that you NEVER would lend on a virtual property,  consider that the world is changing. Thinking about how you would lend on virtual real estate is an interesting…

Areas of improvement in banking abound, which is part of the problem. Banks often struggle with how and where to focus their resources to produce innovative products and services. Do you tackle digitizing the consumer loan process, or do you push into cryptocurrencies? Do you introduce a new treasury management product or upgrade your online…

The reality is bankers are fantastic problem solvers. It’s in their blood. The problem is that, as an industry, we leave much to be desired about DIAGNOSING the right problem. Present a challenge to a banker, and they will quickly switch to solution mode without first analyzing what the issues are. They don’t fully understand…

After talking about the role of bank product managers (HERE), many bankers and bank board members asked the question – How do you know when to start a new product? This article covers seven rules that form our framework for when banks should consider either building or buying a new product. The Rules will help…

If you are looking to make best-in-class decisions, it pays to have a variety of best-in-class tools at your disposal. Oftentimes, a reason why banks don’t innovate more is that they lack the tools and experience to properly understand the risk and the return. Without a way to quantify the risk, stagnation occurs. As banks…