West Monroe (September 9)
“Legacy banks are at an inflection point.” Today, banks ”are no longer just competing with each other, but rather a sprawling field of fintechs, embedded finance players, and tech firms—all of which are delivering faster, cheaper, and more intuitive financial services. The field is fragmented, but the pattern is clear: customers now expect their bank to act like a digital platform, not just a financial service provider.”
Tags: Cheaper, Competing, Customers, Digital platform, Embedded finance, Faster, Financial services, Fintechs, Fragmented, Inflection point, Intuitive, Legacy banks, Tech firms
American Banker (December 9)
“Fintechs turned cross-border payments into a hotbed of innovation over the last five years. Now the card networks and banks are responding with disruptions of their own. It’s not just the competitive threat from fintechs developing faster, cheaper and more transparent cross-border payment options. The changing economy is now adding urgency for legacy cross-border providers to modernize their services.”
Tags: Banks, Card networks, Cheaper, Competitive threat, Cross-border, Disruptions, Economy, Faster, Fintechs, Hotbed, Innovation, Legacy, Modernize, Payments, Services, Transparent
