Banking is at its turning point. And yes, banking is radically transforming. Regulation and increasing intersectional competition are still very important, but the bigger threat is a global trend; the new challenges are now coming from different industries-disruptors. Cross-industry platforms behind the recent success of companies such as Amazon, Google, Microsoft and PayPal, with a vastly superior economic model, are much less (or almost completely) unregulated in comparison to banking. Little carries over from the past, highly motivated and digitised workforce, top-notch creativity patters, and all of them are becoming challengers to the banking incumbents. The market believes that banks are headed in the wrong direction, without a future-proof strategy. But I truly believe that many banks worldwide can thrive by fundamentally changing the way that financial services are embedded into our daily life. These were my main motivators to look for a programme and a peer solution, supported by professors, which could provide some insights into the questions like what we can do with banking, how to rapidly transform and if there is still life for the current banking models. These challenges and many more led me to Saїd Business School, University of Oxford, because at Oxford they transform the people who transform the world.
Now I can proudly say that I am thrilled and excited to have completed the Oxford Bank Governance Programme at Saïd Business School, University of Oxford. What a diversity of thought, experience and professionalism coming from all continents from senior executives in finance and banking. Through the very intense one-week programme, I have been challenged so many times, digested numerous pages of important information and brainstormed over difficult banking cases, learned so much from my peers and shared a lot about what we do in Ukraine despite such a very challenging environment. New trends in banking strategy, regulation requirements, risk, ESG, AI, open banking, digitisation and technological challenges; much more to come and cope with in the near future.
I truly believe that the sceptics are right about today and absolutely mistaken about the future, as banking is facing a future marked by fundamental restructuring and remodelling. I am highly convinced that banks that successfully manage this transition will become bigger, more profitable and will be able to grow faster, partner, use platforms and AI and will be able to attract and retain talented and motivated personnel.
A heartfelt thank you to the School, professors, programme directors, administration, guides and chefs and barista, who made my stay here so unforgettable and full of life and emotions!
