This is a short video from a presentation I did for a Swedish client within the banking industry. In this futurist keynote I talked about three trends that are or eventually will disrupt the banking industry;
Click on the video and hear Anders Sorman-Nilsson of Thinque's keynote address in Stockholm, Sweden.
New over the top players are using the digital infrastructure to decouple finance from traditional finance players. Moven, Simple, Tink, Pocketbook and Mint are a few examples of digital startups and fintech players that are gaining popularity and starting to compete with traditional banks.
If you ask Millennials (or Generation Y as they are also called) which industry that are most likely to be disrupted they point their fingers at the banking industry. According to Scratch who have created the Millennial Disruption Index 53% of the Millennials in the USA don't think their bank offer anything different than other banks and one in three are open to switching bank within the next 90 days.
People today are very comfortable with using Kickstarter and Indiegogo to raise money and make their ideas become reality. Another interesting organisation within this field is Lending Club which is a peer-to-peer lending company that connects borrowers and investors - therein enabling consumers and small businesses to lower the cost of their credit. These platforms are replacing your local business banker, because some people prefer to go to a crowdfunding platform if they are in the startup phase. Why? Because they get the opportunity to put their idea out there to the world and they get instant feedback on it which removes some of the risk, so when they launch they actually know if their product or service is any good. A data-based service your local bank cannot replicate today.
Here are some further readings about the future of banking;
WE WILL EQUIP YOU WITH THE VIDEOS AND MATERIALS YOU NEED TO SUCCESSFULLY PITCH ASN.
0 Comment