QUONTIC BANK
118 usually only hire people from the New York area . However , during this time , we ’ ve hired 30 or 40 people from outside and it ’ s enabled us to work with and find great talent further afield .”
When it comes to Quontic Bank ’ s ‘ true digital bank ’ concept , Sells states that a fallacious dichotomy between traditional banks and modern FinTechs has obscured the true vision for what the idea could achieve . “ In many ways , when banks hear the term ‘ digital bank ’, they assume it means empowering FinTechs and not playing an active role in their customers ’ lives anymore . I don ’ t think that ’ s a good thing for the industry .” On the contrary , Sells argues , it is only by combining the best aspects of both that banking can meet the challenges of the post- COVID-19 ‘ new normal ’. “ A true digital bank would actually use technology to provide a better experience and add meaningful value to the customer beyond just being a list of debits and credits behind the scenes ,” he continues . “ We should also be building technology that solves our problems , selling it to other banks and helping them become truly digital too . imagine
OCTOBER 2020