That takes me back to a reddit topic I saw earlier in the...

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25/09/19

14:49

Post #: 40568287
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Originally posted by HCuser3: ↑

Excellent find!

The establishment (banks) capital spend on technology has significantly under spent for decades - why do it when customers are walking through the door and the cost reverts to revenue and enriches the executives. They are playing catch up but given their incoherent technology stack, the digital challenge from the likes of ISX (although only a segment of the traditional banking base), etc., will be a difficult one to overcome, not to mention the public's sentiment pre and post royal commission and the wave of online saavy educated customers.

The options are significant capital spend in prehaps the most challenging trading conditions they've experienced in 30 years, with the likelyhood of additional squeeze on their margins due to lower interest rates, online competition, poor customer sentiment, OR acquisition. One of the reasons I exited all banks shares and moved into ISX and other digital stocks.

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That takes me back to a reddit topic I saw earlier in the year:

https://www.reddit.com/r/AusFinance/comments/ba0v2b/i_asked_all_the_banks_what_they_thought_of_giving/

Not that this is ISX related - it just really speaks to where our banks are. Personal finance apps are booming, but how many Aussie banks actually provide an API to interface with them? The answer is one.

ISX Price at posting: 92.5¢ Sentiment: Hold Disclosure: Held
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