The landscape for financial services is changing rapidly and digital opportunities are reshaping the structure of markets. Buying power has moved to the consumer, and segments of the customer value-chain once owned by traditional banks and financial institutions have been disintermediated by new market entrants in the form of FinTechs. This new wave of competition is agile and unrestricted by legacy technology.
But there are opportunities amidst the winds of change, financial institutions can take advantage of the new environment through partnerships and drive a new model of finance that redefines the end-user experience and brings innovation to the market at an accelerated pace.
This report from Fenergo CRO, Chris Zingo, covers the major issues financial institutions face when it comes to staying innovative in the new digital paradigm and delivering client services that resonate, delving into:
- The threat of FinTechs as new market disruptors
- How partnerships can unlock hidden value to drive growth
- Legacy technology and the ongoing complexity of regulations
- The common pitfalls of identifying and implementing compliance solutions
Find out how Fenergo enables innovation using compliance for your business here.