Digital-Only Banks: Threat or Motivator?
|出版日||ページ情報||英文 25 Pages
|デジタル専用銀行：脅威かモチベーターか？ Digital-Only Banks: Threat or Motivator?|
|出版日: 2018年12月17日||ページ情報: 英文 25 Pages||
The emergence of digital-only banks has jolted incumbents into varying degrees of panic. On paper, their business model seems enviable. Operating costs are low, unburdened by old legacy IT systems and costly branch networks. Consequently, superior operating efficiency enables competitive pricing. In addition, newer technology infrastructure allows for a more sophisticated and capable digital banking experience for customers. Faced with this new challenge, it is important for incumbent banks not to forget what their customers actually want.
While digital-only banks do possess significant competitive advantages, recent launches have demonstrated they also face difficult challenges that technology or price can't solve. The benefits of digital banking to the customer and provider make the broad direction of strategy fairly simple: digitize.
The key question for banks is, to what extent? Do digital-only banks pose such a threat to valuable customer bases that wholehearted emulation is required? Or would digitizing selected parts of bank propositions be sufficient to mitigate the threat?
The report "Digital-Only Banks: Threat or Motivator?", aims to assess the risk posed by digital-only banks, identify vulnerable customer segments, and highlight actions that incumbents could make to improve their retention prospects.
This report assess the threat posed by digital-only banks and highlights changes incumbents could make to their digital banking platforms to mitigate the risk by -