Thank you for joining the Ross Republic podcast. In our eleventh episode, your host Adrian Klee is joined by Rivo Uibo, the Co-Founder and Chief Business Officer of Modularbank. They are here to discuss how technology enables new business models in banking.

RR Podcast #11

In 2019, almost 60% of banks did not return their cost of capital. By fall 2020, things turned worse due to the Covid-19 crisis. The banking industry was trading at a historically low 50% discount to the broader market, with 79% of banks trading below book value. Low profitability is becoming a structural issue and banks need to tackle their costs while generating new revenue streams.

Rivo and Adrian discuss¬†how technology allows banks to tackle their legacy inefficiencies and enables them to launch digital-era business models, to bring them back on the growth path. Also, how customers’ expectations have changed due to seamless banking experiences provided by modern neobanks. And how traditional banks should respond in order to own the next horizon of innovation.

Modularbank offers a new state of the art cloud based core banking system, therefore Adrian and Rivo evaluate Modularbank’s role within the new¬† digital value chain in financial services.

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