In 2008 Gerd Schenkel managed to successfully set up a new deposit bank during one of the worst global financial crises ever seen. Many probably argued that it was the worst time time to set up a place for people to deposit their hard earned financial assets when confidence in the financial system is at an all time low.
But as Gerd says it was much about making it easy for customers to join you. This fits in the bigger trend of the ‘Buy Now’ button that is appearing on the websites of many different industries. This may not be good news for the traditional sales people because it renders them increasingly irrelevant, but it is probably one of the biggest developments for business since the appearance of the telephone.
Eve thought this is obvious for the tech industry, finance still has a very long way to go to build a direct relationship with the end investor.
And although Gerd points out that you need to be ahead of the curve, but not too much so people can understand what you are up to, the investment industry clearly has much catching up to do.