Banking 'Perestroika' comes from unexpected quarters in Russia

October 17, 2013
Hosted by Brett King

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Episode Description

Russia is one of the biggest emerging economies on the planet, and has one of the largest national banking markets in the world, but innovation comes slowly within the banking sector due to massive technology and process issues. However, in the last few years there has been an explosion of innovation through start-ups, new brands and new technology players that in FinTech that appears second only to Silicon Alley . What has inspired such dynamic change in the Russian banking market? Who are the new players that are making strides, and how are the big banks in Russia responding to these innovative new players? This week we talk to Daniel Gusev, co-founder of FinFit, a new Russian start-up that is trying to help Russians save through gamification, and to Mircea Mihaescu, the Head of IT Strategy and Technology Innovation at Russia's largest bank Sperbank. Mircea talks about their $100m investment to modernize and innovate Sperbank, whereas Daniel talks about the start-up scene generally in Russia and the challenges banking faces as consumer demand for technology-enablement skyrockets.

Breaking Banks Fintech

Breaking Banks Fintech

Thursday at 12 Noon Pacific Time on VoiceAmerica Business Channel

Breaking Banks is the number 1 global fintech radio show and podcast. Every week we explore the personalities, startups, innovators, and industry players driving disruption in financial services, from Incumbents to unicorns, and from the latest cutting edge technology to the people are using it to help to create a more innovative, inclusive and healthy financial future.

We are living in a time of the most dramatic technological advancements in history, and we are telling the stories behind that change, with a focus on the implications of what it all means for industry incumbents and insurgents, the people, the consumers, the markets, and the very nature of banking and money itself.

Listen every Thursday at 3 PM Eastern Time, Noon Pacific on the VoiceAmerica Business Channel.

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Brett King

Brett King

Brett King is a three times bestselling author, well-known futurist and speaker, and founder of a breakout new retail banking and lifestyle concept "Moven.” King was voted as American Banker's Innovator of the Year in 2012, and was nominated by Bank Innovation as one of the Top 10 "coolest brands in banking.” King has been featured on CNBC, Bloomberg, BBC, Financial Times, The Economist, The Asian Banker Journal, The Banker, Wired magazine and many more. He contributes regularly as a blogger on Huffington Post.

King initially achieved recognition for his bestselling book BANK 2.0, which received widespread industry acclaim and topped category lists in the UK, USA, Germany, Japan, Canada, France Russia and Asia. 'Branch Today, Gone Tomorrow' - King's second book achieved bestseller status in its first week on Amazon. His current book BANK 3.0 is currently topping the charts in the US, UK, China, Canada, Germany, Japan and France and has been published in English, Chinese (Simplified/Traditional), Korean, Russian and Polish to-date. He is widely considered the foremost global expert on retail banking innovation today.

As an industry thought leader, King has delivered keynotes at conferences in more than 40 countries for organizations like Google, Forbes, and Oracle. He has served as an international judge for The Asian Banker Retail Banking Excellence Awards, the GSMA Global Mobile Awards, the Middle East Business Achievement and Retail Banking Awards.

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