This welcome note at The Asian Banker Global Excellence in Retail Financial Services Awards Ceremony in Hanoi in March 2023, was given at the time when Silvergate Bank, Silicon Valley Bank, Signature Bank and Credit Suisse in Europe imploded. My message to the audience was that the rules in finance is changing, and that the data outside the institution will become more valuable than data within the institution, and that APIs will be run by little girls who will decide what services they want from banks. I urged industry leaders to prepare for the dysfunction that will pervade financial services as it transitions into the next phase.
