The business of money has come a long way. As an example, the home loan industry has grown from the 3-6-3 business model (borrow money…Learn More
Sep 25, 2020
It is clear that the digital revolution in financial services is under way, but the impact on current banking players is not as well defined. Digital disruption has the potential to shrink the role and relevance of today’s banks, and simultaneously help them create better, faster, cheaper services that make them an even more essential part of everyday life for institutions and individuals.
To make the impact positive, banks are acknowledging that they need to shake themselves out of institutional complacency and recognize that merely navigating waves of regulation and waiting for interest rates to rise won’t protect them from obsolescence. Embracing openness and collaboration, and making smart investments is a good place to start. But they will only know they are winning in digital when bank valuations start to factor in the future value of proven innovation, in addition to protecting the core franchise.
Courtesy :- Accenture
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