#21 Digital transformation with Martin McCann (Trade Ledger)

Banking on Air

Digital transformation is now integral to the banking industry and no incumbent can simply afford to ignore this. Yet delivering digital services takes a lot more effective planning and specialist expertise than appears at first sight.

Download our podcast with Martin McCann, CEO and Co-Founder of Trade Ledger, a leading player in lendtech. Trade Ledger has developed a sophisticated credit rating platform for loans to SMEs that automates the entire loan approval process. Together with Martin we explore the obstacles facing banks seeking to achieve digital transformation, and find out why their approaches often fail to deliver.

Thanks to his Trade Ledger loan approval platform designed for bank use, Martin has gained a wealth of insight into the inner workings of financial institutions and the core obstacles they face. Firstly, many banks often approach digital transformation from the wrong starting point. On top of this, the highly-regulated nature of the banking industry stacks the odds against them. And many banks struggle with legacy systems and still rely on outdated risk models.

Less widely acknowledged is the fact that a failure to grow core competencies in-house can often lead to over-reliance on external consultants.

Listen to the podcast to find out not only where banks go wrong but also how Trade Ledger’s data-driven lending platform can vastly speed up the loans approval process helping banks make better-informed, quicker and better-priced lending decisions – to the extent that Trade Ledger is shortening the lending process from 6 weeks to 4 minutes

Find out more about Martin McCann via his LinkedIn profile - https://www.linkedin.com/in/mccannmartin/.

‘Banking on Air’ is the official Vacuumlabs podcast covering the challenges, opportunities, perspectives and opinions that matter to you and to our community. In this podcast, we are looking under the hood of the changing face of tech: the acceleration in all things digital, the impact of regulation (and disruption), the need for genuine collaboration – and the specter of competitors old and new as it plays out in fintech and financial services around the world.

This podcast is brought to you by Vacuumlabs – and we’re sharing our experience and expertise in creating solutions for the digital journey for professionals, community banks, and fintechs. We believe that the future is in communities when it comes to digital transformation in financial services, and we invite you to join us and our guests over the coming weeks and months.