Ok, it’s safe to say fintech has hit the big time. The New York Times covered the subject — and the word — in depth yesterday, in a special section called “Fintech’s Power Grab.” The lead item, by Andrew Ross Sorkin of CNBC fame, focuses on the fintech challenge toRead More
Post Tagged with: "disruption"
Pivotus Ventures, a new venture capital firm launched by Umpqua Holdings Corporation, believes that drastic action is needed to keep banks relevant in the coming years. If any FIs can do it, Umpqua is certainly among them. Just last year, the Portland, Oregon-based corporation performed the rare feat of upgrading its coreRead More
Brett King opened yesterday’s episode of Breaking Banks with the new Citibank report, which suggests disruption will lead to a 30% cut in employees across the retail banking sector. Next up was data and its use in providing context to the consumer experience. Pat Phelan of Trustev and Paul Siegfried of TransUnion spoke about the developmentsRead More
Rather than an indication that a fintech bubble is forming, the sky-high investments in the sector are a sign that banks will be disrupted sooner rather than later. Fintech investment is ballooning as companies and individual investors look to cash in on the potential for digital disruption in financial services.Read More
A New Yorker cover story taking on the “gospel of innovation” chose an unlikely champion for its example of how banks should do business. Author Jill Lepore celebrates TD Bank for — resisting the urge to innovate: In the late 1990s and early 2000s, the financial-services industry innovated by selling products likeRead More
In an exclusive interview about his newest book, Bank 3.0, Brett King discusses how change occurring in the banking industry is inevitable, speeding up and disruptive. From the mobile wallet wars to the impact of social media, tablets and the ‘de-banke…
A lot has been written lately around the desire for banks to transform their branch networks given the consumer acceptance of alternative channels and the need to reduce distribution costs. In the past week, there has been coverage in both the American…