As one of the main drivers of disruption, Fintech is reshaping the financial services industry by harnessing emerging technologies and creating new business models. This shift has meant that, for the past few years, financial institutions have had to compete with start-ups that are able to offer new solutions and services to attract customers, without being confined to the bureaucracy typically associated with traditional banking.
In this changing landscape, financial institutions are starting to embrace Fintech but more investments are needed on their part to help narrow the gap. In order to seize the benefits while avoiding the downfalls of disruption, the financial industry, like most other industries, must prepare a comprehensive strategy that will allow them to continue to pursue new growth opportunities without abandoning their core business.
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