Over the past 20 year most banks have invested heavily in new payments and distribution services and capabilities for both the consumer and commercial markets. In fundamental ways, these new capabilities have altered how, where, and when customers do business with their banks, impacted cost structures and profitability models, and created a new competitive dynamic. However, has the banking industry gone far enough and fast enough to both protect its competitive position and expand its market reach? A whole host of industries have been altered dramatically by the entrance of technology-based category disruptors that have completely changed the competitive landscape and left once powerful companies to either wither or die. Retail, media, news, entertainment and transportation are just a few that have experienced painful (for some) transformations. The question remains, “Is the banking industry next?” We believe the answer is “yes”!
Read our whitepaper "Is The Banking Industry About To Get 'Ubered?'"