{"id":26487,"date":"2022-02-17T13:00:00","date_gmt":"2022-02-17T12:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=26487"},"modified":"2022-02-24T15:25:56","modified_gmt":"2022-02-24T14:25:56","slug":"james-sene-banks-disappear-ten-years","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/james-sene-banks-disappear-ten-years\/","title":{"rendered":"James S\u00e8ne: &#8220;Banks will disappear in ten years&#8221;"},"content":{"rendered":"<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>The second presentation of Fintech Talks focused on fintech trends. The founder and president of 11Onze, James S\u00e8ne, talked about how neobanks are leading the financial revolution and ousting traditional banking. Agent 11Onze Xavi Vi\u00f1olas tells us how the day went in La Pla\u00e7a.<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The idyllic sunset from the <\/span><a href=\"https:\/\/mymonday.es\/edificios\/barcelona\/barceloneta\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Monday<\/span><\/a><span style=\"font-weight: 400;\"> coworking, located on the west side of the Port of Barcelona, marked the start of the second Fintech Talks organised by 11Onze. The cameras have been set up and the 50 chairs have taken the place of the ping-pong table, the anti-stress puffs, and the tantra chair. Monday&#8217;s staff are all set. <\/span><b>James S\u00e8ne, president of 11Onze, Gemma Vallet, CMO of 11Onze, and Xavi Bassons, CEO of Monday,<\/b><span style=\"font-weight: 400;\"> prepare for the presentation as the room fills up. The event has sold out.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The conference begins with three key questions: Are neobanks a real threat to traditional banking? What will customer service be like with the digitalisation of banking? What is our opinion of community banking? The barrage of questions continues with the audience. &#8220;Where is the fintech ecosystem at?&#8221;, &#8220;Are we pioneers?&#8221;, &#8220;When will this transition take place?&#8221; ask the audience.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The table is gone, but <\/span><b>the dialectic ping-pong between S\u00e8ne and the audience gradually increases in pace<\/b><span style=\"font-weight: 400;\">. When asked about the paradigm shift that fintech may represent, and how states will adapt to digital money, the president of 11Onze replies that it is already happening, that physical money will soon disappear, that digital money such as the e-dollar and its equivalents in China or Sweden, with blockchain technology, are already in the testing phase or coming into operation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In turn, Bassons asks how we can explain this change to a society that understands what physical money is, but finds it difficult to assimilate digital money. S\u00e8ne says that, in fact, we have already been using digital money for years when we receive our salaries or pay with cards: <\/span><b>&#8220;Everything is done digitally and cash only represents 0.3% or 0.5%. The economy needs a &#8216;reset&#8217;, and this can only be done with a digitised economy&#8221;<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other participants question the usefulness of traditional banks as financial intermediaries and S\u00e8ne explains how <\/span><b>open banking has facilitated the entry of new players into the market, fintechs such as 11Onze, which introduce &#8220;a very clear message, a very polished service, and at a fraction of the cost of traditional banking<\/b><span style=\"font-weight: 400;\">&#8220;. And he makes a prediction: &#8220;For me, banks are finished and will disappear in ten years&#8221;.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is well into the evening and the formal talk comes to an end, but the conversation continues between the speaker and the audience. One guy wants to know to what extent governments will be able to regulate and control cryptocurrencies, others comment on the future of decentralised finance. 11Onze&#8217;s fincom has become a reality: an increasing number of <\/span><b>people learning from people, motivated by similar values, where financial education has to be at the centre<\/b><span style=\"font-weight: 400;\">. Soon, you will be able to watch the full talk at La Pla\u00e7a.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>11Onze is the fintech community of Catalonia. Open an account by downloading the super app El Canut on <\/b><a href=\"https:\/\/bit.ly\/2YlbZAf\" target=\"_blank\" rel=\"noopener\"><b>Android<\/b><\/a><b> and <\/b><a href=\"https:\/\/bit.ly\/Onze-IOS\" target=\"_blank\" rel=\"noopener\"><b>Apple<\/b><\/a><b> and join the revolution!<\/b><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component cards\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-xl-8 offset-xl-2\">\n        <h1>If you liked this article, we recommend you read:<\/h1>\n        <div class=\"cards__wrapper\">\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/fintech-vs-traditional-banking-first-round\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/08\/THUMBNAIL_FINTECH_BANCA_TRADICIONAL-800x533.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Finances<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Fintech vs. traditional banking<\/strong><\/p>\n              <span class=\"card-time\">3 min read<\/span>\n              <p class=\"card-text small\">Mike Tyson used to say that \u201ceverybody has a plan until they<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/technology-here-us\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2022\/01\/THUMBNAIL_TECNOLOGIA_NOSALTRES-800x368.png\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">11Onze<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>\u201cThe technology is here, it\u2019s all up to us\u201d<\/strong><\/p>\n              <span class=\"card-time\">4 min read<\/span>\n              <p class=\"card-text small\">11Onze kicked off the FintechTalks talking about<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/fintechs-gaining-ground-banks\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/12\/THUMBNAIL_FINTECH_MENJANT_TERRENY_BANCS-800x533.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Finances<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Fintechs are gaining ground on banks<\/strong><\/p>\n              <span class=\"card-time\">5 min read<\/span>\n              <p class=\"card-text small\">Fintechs are bringing about an unprecedented financial<\/p>\n            <\/div>\n          <\/div>\n\n              <\/div>\n              <br>\n              <br>\n              <div class=\"cards__wrapper\">\n\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":71,"featured_media":26437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[188],"class_list":["post-26487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-11onze-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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