Key findings from the World FinTech Report 2020 13 October 2020
No longer banking industry disruptors, BigTechs and challenger banks have opened a Pandora’s box of sky-high customer expectations. FinTech has moved from “disruption to maturity,” becoming either a solid competitor or a ready-to-scale partner. This means it is now or never for effective collaboration between incumbent banks and FinTechs to fill in the gaps from front to back office to deliver meaningful CX and UX.
With the global COVID-19 crisis on the top of everyone’s mind, this need to transform and collaborate with FinTechs is stronger than ever.
The World FinTech Report 2020 from Capgemini and Efma explores the challenges faced by banks in adapting themselves to the demands of the customers as well as strategies they should develop to catch up with these new players.
In this preentation, we will explore:
How BigTechs and challenger banks’ unique strengths and capabilities are luring customers away from incumbent banks
How to drive a middle- and back-end transformation through collaboration by design with FinTechs to deliver a better last-mile experience to customers
How a structured approach for an effective collaboration can help inventive banks and FinTech scaleups move from open innovation to applied innovation
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