Technology
03/01/2016

The Seven Facets of a Digital Bank


If one were to start a new digital bank today, what would the defining characteristics be? Although there are some similarities to traditional bank counterparts, digital-only banks are in many respects very different. Here are the seven facets of a digital bank that will help drive its success.

Adjacent to each facet are organizations, including digital-only and traditional banks, as well financial technology companies, that Bank Director believes embody each characteristic.

WRITTEN BY

Jack Milligan

Editor-at-Large

Jack Milligan is the Editor-At-Large of Bank Director magazine, a position to which he brings over 40 years of experience in financial journalism organizations. Jack contributes to Bank Director’s editorial coverage and leads its director training efforts. In 2022, Jack developed Bank Director’s Director Certification Program to bring much-needed governance training to bank boards.

 

Jack is a nationally recognized speaker at financial industry conferences.  Over Jack’s tenure, he has interviewed some of the most notable bank CEOs and senior leaders in the financial industry. He has a master’s degree in Journalism from The Ohio State University.