Читать книгу The FINTECH Book - Chishti Susanne - Страница 9

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Introduction
Banking and the E-Book Moment
The Shifting Financial Landscape

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The world’s major retail banks still dominate the financial services landscape, providing the deposit, payment, and credit facilities that we all use and take for granted, but they are no longer the only players in town. Today’s online shopper might pay with a debit card but equally they might choose PayPal. The business that would once have relied on its bank for credit can now borrow from peer-to-peer (P2P) platforms or specialist lenders. And digital banks are vying with their bricks-and-mortar counterparts for customer deposits. It’s all about access and convenience.

As alternative finance gains traction with customers, FinTech is approaching its e-book moment – the point at which a critical mass of consumers and business customers see the technology-driven solutions offered by new players in the marketplace as a viable – and often preferable – alternative to the services offered by incumbent banks.

The implications for the traditional banking industry are immense. Developments in FinTech have the potential to erode the brand equity of the incumbent players and eat into market share. But banks also have an opportunity to embrace FinTech innovation and offer new solutions to their customers.

The FINTECH Book

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