This blog is about the digital business era. The blog posts are brief, foods for thought. They comment on articles, events etc. with a personal touch.

Digital Disruptions in Retail Banking

13-10-2015
New technology will continually change retail banking, but even more turmoil will be caused by the proliferation of (digital) consumer superbrands and their technology.
 
This text was posted on Linkedin:
https://www.linkedin.com/pulse/digital-disruptions-retail-banking-jan-amtoft
 
I have read several interviews during the summer with retail bank CEOs that states to the market that a) they are concerned about disruptions and b) they will act on it.
 
Of course nobody will tell openly what they are doing about it, but among the reasons lie one big one: they might not know how to deal with the digital superbrands. The cashflows of retail banking are mainly based on miniscule transaction fees, and the ones that own the consumer contact, controls the cashflow.
 
It's a new world to adapt to, and I haven't seen any retail bank strategy (yet) that hits bulls eye.
 
A key goal is to give you inspiration on how to deal with the digital business era. Another goal is to get feedback on ideas and thoughts. Have a great digital business era!
 
Confucius – you cannot open a book without learning something - /jan