Teslafication of banking
Tesla are well known as a disruptor from outside the automotive industry, with a new business model, culture and tech stack. But in many ways Tesla is just an IoT device with sensors streaming data over the network to a cloud. Real-time data is analysed to assess risk and update the car and driver with appropriate actions. As an analogy to banking consider how new entrants such as Ant Financial, Tencent’s WeBank have the same potential as Clear.Bank, the UK’s first new Clearing Bank in 250 years built in the cloud for the 21st century payments business. Richard will consider how banks build their response in a rapidly changing market.