Human with a Digital Touch: Navigating the ‘Never Normal’ at KBC Securities Services

Peter: “Years ago, when I published my first book, I came up with a clever title: The New Normal. In hindsight, that was a mistake. Why? Because the idea that technological change would stabilise into a ‘New Normal’ turned out to be completely wrong. Instead, technological change has spurred on a cycle of social, ecological and political changes, which shows no signs of slowing down. In other words: we’re living through a ‘Never Normal’. Change isn’t like a temporary storm we need to withstand. Change itself has become the new climate.” 

“That’s why traditional models of change are no longer useful. Those approaches worked when change had a beginning and an end. But now, organizations need to build systems and strategies for continuous adaptation. That’s not a one-time transformation. It’s a structural, cultural and mental shift.”

Mathias: “If you only change because you feel you have to, you’re missing out. You need to change because you want to. Which means you have to make time for it. I see a lot of managers at different companies who are stuck in the daily grind of running their businesses, leaving them with very little time for innovation. That’s why, at KBC Securities Services, we’ve put innovation at the core of our activities. My team of experts, analysts and product developers are permanently on the look-out for innovative ideas to integrate into our own processes to enhance customer experience.”

Peter: “That’s really valuable. And it doesn’t surprise me. KBC is one of the very few Belgian banks that I think has a real innovation spirit. You’ve always been ahead of the curve, especially in digital. That mindset of not waiting for change, but actively shaping it? That’s exactly how you thrive in this ‘Never Normal’.” 

Peter: “Do you know the difference between the US and the EU? In the US, you innovate until someone tells you to stop. In Europe, you wait for someone to tell you it's okay to start. (laughs) Yes, regulation is essential, especially in finance. But we tend to overdo it. Just look at the AI Act. The technology isn’t even fully developed yet and still laws were passed to regulate it. It’s a sort of ‘pre-regulation’ and I think that’s dangerous. Instead of creating room to explore and experiment, we create fear and uncertainty. The pressure to comply is so high that companies often have to choose: do we meet regulatory demands, or do we invest in future capabilities?”

Mathias: “I recognise that frustration within KBC as well. For example, when the Belgian government recently introduced plans for a capital gains tax, the cost of preparing for it, immediately took a significant part of our annual budget. That’s money we had initially reserved for innovation. Still, we try to use those moments as an opportunity to modernise. Instead of just patching in new rules, we look at the entire process and ask: what can we redesign? Can we eliminate unnecessary steps? Can we implement new technologies that make us more resilient long-term?”
 

Peter: “I understand the fear, but I’m an optimist. I’ve studied every wave of technological innovation since the industrial revolution. Each time, people feared jobs would disappear. And they were right: some jobs did go. But every time, new ones emerged. We’re seeing the same pattern with AI. Of course it’s disruptive. But the real opportunity lies in how we redesign work. That’s the challenge: not to replace people, but to reimagine their role. The true value of human work lies in things machines can’t replicate: creativity, curiosity, empathy. AI shouldn’t be seen as a threat, but as a way to amplify what makes us human.”

Mathias: “I totally agree. And it’s exactly why, at KBC Securities Services, our strategy is ‘human with a digital touch’. People will always remain at the heart of what we do. Don’t forget that, in B2B, trust and healthy relationships are essential. Clients want someone who understands them. KBC Securities Services will always be a partner who thinks alongside the client. It’s simply part of our DNA.”
 

Peter: “For me, Singapore is a leading example when it comes to financial innovation. The Monetary Authority there is extremely forward-thinking, not just in what they regulate, but in how they regulate. Through regulatory sandboxes, they create controlled environments where financial institutions can test new technologies before the full regulatory framework kicks in. That kind of approach actively encourages experimentation. We also follow developments in other Asian markets, such as Hong Kong, which are similarly progressive.”

Mathias: “I agree. However, the European Central Bank is taking steps in the same direction. For instance through its DLT (Distributed Ledger Technology) regime, which explores how blockchain platforms could help settle financial transactions directly between parties, without the need for traditional intermediaries. In Europe, we have a tendency to talk ourselves down. But we are catching up. And KBC Securities Services is part of that momentum.”