Following on from that, I’ll just share an indirect quote from Jason Bates, one of Monzo’s co-founders
Banks have digitised analogue products not created digital services. Most have done it through learning as little as they have to about the technologies and processes that would accelerate and achieve greater levels of success.
the follow up comment from David Brear, who’s one of his colleagues at the consultancy that he now works for, was
To quote Jurassic Park (as i like to often!) - bankers were so preoccupied with whether or not they could that they didn’t stop to think if they should.