Disruptive financial tech players are decoupling consumers from their primary financial and banking relationships with their banks, giving rise to suspicious that Bill Gates was right when he said "in the future we will still need to do banking, we just won't need banks".
While this may be a view in the extreme certainly when we advise traditional banks on the banking of tomorrow we look to non-banks, the developing world and fintech for inspiration. And consumers are already voting with their digital digits and becoming accustomed to trusting non-banks with their banking needs. Bankers beware. Take a look at the following statistics from some of our presentations to finance and banking clients in the UK, USA, Austria, Sweden and Australia.
Here are some further readings about the future of banking;