#50 Just learning what you are personally interested in leads to a very narrow point of view - Philipp Kleine Jäger

Prof. Dr. Philipp Kleine Jäger is Managing Partner at CORE, a European Technology Think Tank, and accompanies the management of complex technology transformations of institutions. Philipp Kleine Jäger has long-standing experience in software development and technology management in the finance sector. The focus of his engagement particularly lies with cloud-native, scalable distributed microservice architectures as well as innovative sourcing models.
In his academic career in solid state physics, he worked on modelling the magnetohydrodynamic properties of superconducting current leads for fusion applications, atomic diffusion in solids and AC losses in superconductor/ferromagnet heterostructures.

Insights:

Starting a career in IT and shifting to another area of study
Importance of being open to learning and enthusiastic when joining the FinTech sector
Why it is hard to replace the traditional system of money
Culture and technology are the biggest determining actors of innovation in the modern banking system
The difference in how companies are financing themselves in the US and in Europe
Monoculture versus diversity in technology
The reason why banks are moving to the cloud
Decentralization versus standardization of the technological framework and algorithms
Regulation and transparency challenges in the technological sphere
Advice to a young graduate seeking to join a consulting company

Key Discussion Points:

[00:10] Introduction to the episode guest

[03:08] How did you decide to quit your job for studying something entirely different?

[07:24] The importance of being open to learning and enthusiastic when joining the FinTech sector

[12:05] Why is it hard to replace the traditional system of money in the banking sector despite tech adoption?

[13:29] Why can startup do better than banks?

[15:36] Which big bank is the leading tribe?

[19:55] Are culture and technology the biggest determining actors of innovation in the modern banking system?

[22:41] Difference in how companies are financing themselves in the US and in Europe

[27:36] Do you see enough diversity in the technology field or do we go way too fast in a monoculture?

[31:02] Why are banks moving in the direction of the cloud?

[38:05] Decentralization versus standardization of the technological framework and algorithms

[46:17] Regulation and transparency challenges in the technological sphere

[52:02] Should future schools make a better place for personality groups?

[53:37] Advice to a young graduate seeking to join a consulting company

[55:51] How do you handle work-life balance?

[1:00:21] What are your favorite books?

[1:01:52] What kind of advice would you give to your 18-year-old self?

Interesting Quotes:

“As a customer, you don’t want to spend money. You want to buy a product.”

“The banking sector moves into the cloud because of its need to focus on market differentiating functionality and better products instead of infrastructure that others are better at providing.”

“The internet fosters innovation because it allows building on an ecosystem defined by open standards and API-driven functionality thereby reducing the necessity to spend time on problems others have already solved.”

“If all you have is a hammer, everything looks like a nail.”

“If you regulate processes, change becomes difficult. Stability often comes at the price of speed and flexibility.”

“Just learning what you are personally interested in leads to a very narrow point of view.”