Boosting the innovation of banking business models
Developed financial markets such as UK and Switzerland are paving the innovation way, yet many banks in these countries are struggling to adjust to the current economy and customer’s new expectations. On top of low interest rates and the fintech boom, COVID-19 further indicates the need for digital-first banking business models.
As with any change, it can be either a threat or an opportunity, depending on competitive positioning. Those that are succeeding in the new normal and innovation are not holding back and are fully exploiting opportunities to grow their business.
- Why is now the right time to take initiative?
- What aspects of the industry landscape have changed?
- How to act and accelerate business innovation, new ways of working, or cloud strategy?
In our report, we’ll outline some of the key reasons why now is the time to act and underline how challengers successfully operate in traditional banking fields. Furthermore, we describe what factors we see as important and should be considered for the initiation of business model innovation in the banking field.
We’ll share how you can start building strong strategies and plans to gain operational resilience and satisfy new customer demands while ensuring sustainability, inclusion, and trust remain key components of your new digital business models.