Digital Transformation in the Financial Industry: The impact of Open Banking.

With Jorge Ruiz, Founder & CEO of FinConecta.

For this three-part series, we sat down with CEO Jorge Ruiz for a behind-the-scenes view of his perspective on digital transformation in the financial industry, as well as the latest developments in open banking (OB).

Global Trends

What are the latest Global Trends?

BankersLab: You were recently at the Singapore FinTech Festival (SFF). What did you see that you were not expecting?

Jorge: There are 3 global trends that I would like to share:

- FOMOFS: The Fear of Missing Out Financial Services, by other sectors. One…


Digital Transformation in the Financial Industry: The impact of Open Banking.

With Jorge Ruiz, Founder & CEO of FinConecta.

For this three-part series, we sat down with CEO Jorge Ruiz for a behind-the-scenes view of his perspective on digital transformation in the financial industry, as well as the latest developments in open banking (OB).

About Business Strategy

Financial Institutions need a clear strategy for open banking

BankersLab: Let’s talk about strategy and transformation. What are the typical fears and myths you encounter related to OB?

Jorge: The most important one is that many executives of a great number of financial institutions (FIs) still don’t understand what it is. More…


Digital Transformation in the Financial Industry: The Impact of Open Banking

With Jorge Ruiz, Founder & CEO of FinConecta.

For this three-part series, we sat down with CEO Jorge Ruiz for a behind-the-scenes view of his perspective on digital transformation in the financial industry, as well as the latest developments in open banking (OB).

Jorge Ruiz, Founder & CEO of FinConecta

About Digital Transformation

BankersLab: What is your viewpoint on the state of digital transformation in the financial industry?

Jorge: In financial services, digital disruption is here to stay. There is a promise of personalized solutions and improved experiences delivered via digital channels, and there is potential…


Recently, as I pulled my rental car into a gas station, I found myself reflecting on a peculiar detail. Next to the gas gauge, there was a small arrow indicating which side of the car the gas tank is on. I’m not afraid to reveal my advancing age when I point out to the millennials that this very handy ‘feature’ didn’t exist on cars in the past.

Back in the day, if you pulled into a gas station in a rental car, passengers were instructed to stick their heads out the windows to determine which side of the fuel pump…


Notes from the Field: The Three-Legged Race, Elementary school game or path to peace and prosperity?

“A favorite at community picnics and school carnivals, a three-legged race is a game of cooperation between partners as much as it is one of speed. It involves two participants attempting to complete a short sprint with the left leg of one runner strapped to the right leg of another runner. The object is for the partners to run together without falling over, and beat the other contestants to the finish line.”

Last month as I boarded a flight to Saudi Arabia, I reviewed…


Notes from the Field: The Headache of Economic Hangovers

It’s been a while since Portugal was at the top of the news cycle. I recently visited, and for a few days meditated on the length and persistence of economic hangovers. On the one hand, locals proudly pointed out that Porto is no longer the gray, hopeless, deserted, dreary place it was at the height of the crisis. …


Didn’t catch the latest E&Y Banker of the Future Report? #TL;DR?

[TL;DR short for Too Long;Didn’t Read originates in internet slang, where it is often used in quoted responses to indicate parts of the text skipped as too lengthy ~ Wikipedia]

Here are your four Talent To-Do’s…

E&Y’s recent report, “Transforming Talent — the Banker of the Future” is long because it’s packed with rich information and is not to be missed! For the time poor, here’s a recap of the key points from the report and a quick “To-Do” list for the savvy manager.

Understand the expectations of the…


The last time I visited Myanmar, crisp dollar bills carefully transported from abroad were king. Foreign debit cards were useless and credit cards only rarely accepted. Cash was your only option, and changing currencies involved traipsing off to Bogyoke Market (rumored to have the best exchange rates), where you would be presented with large bricks of notes, as no denominations larger than 1,000kyat (roughly USD $1) existed. …


‘Gamification’ has increasingly become one of the latest buzzwords in business. From driving customer loyalty to tailored training programs — evidence of the trend is springing up in boardrooms across the globe, but is it a gimmick or could it be really be the next big thing?

Back to basics

Gamification is about taking the essential ingredients of a game and applying them to real-world, non-game situations. By introducing game mechanics such as rules, challenges and rewards for achievements; businesses can not only increase the fun factor, but most importantly motivate and engage their audience.

Early endeavors have proven that…


I was recently in California visiting the fintech, startup and venture community, and heard lots of company pitches and aspirations. They ranged from the geeky, to the quirky, to a bit nutty, to pure genius. I heard about the meta-universe (still not sure what that is exactly!), an app that allows me to see a 3D scan of my naked body (no thanks!), some cool sensors for robots and cars, and even learned about turning air to water using solar power.

One idea that really struck me was moving from SaaS (Software as a Service, all the rage today) to…

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