Big tech, fintech and increased regulation are putting pressure on banking incumbents. How can they rise up to the challenge?
The financial services industry is in upheaval and while there is a lot of recent talk about rising complexity and disruption, this transformation has actually been almost twenty years in the making. Since the year 2000, banks have faced stricter and more regulations, driving up the cost of compliance.
Investment in new fintech players has grown steadily in the last decade. Big tech companies are entering the consumer finance space. At the same time, banks are struggling to innovate, with many still running their business on legacy systems. It’s an almost perfect storm. In this white paper, the first in a series, we explore each of these developments and outline strategies banks can focus on to take back their future.
Download now and discover:
- Laws and regulations affecting financial services
- Challenger banks and new fintech companies entering the game
- Big tech’s influence on banking
- How imperative is the cloud?
- What is next?