‘The face of banking is changing dramatically’. But we knew that right?
The digital age we’re living in is seemingly disrupting every traditional industry and the exceptional rise of The FinTech is an incredible example of this.
Every individual needs banking – but do they need banks? Bill Gates famously coined this phrase and the threat to banks now is greater than ever, unless they start reaping the benefits of today’s technology that smart FinTech’s are scooping up.
In this inquiring article from Group Chief Officer at DBS Bank, Piyush Gupta, it’s clear that the vast technological shifts are causing the stir; mobile, Big Data, social media and AI are highlighted as the key players.
Of course there’s light at the end of the tunnel with a prosperous example of how DBS have launched a mobile-only bank and heading for success, and it’s worth checking out Piyush’s article for a further insight into The Future of Banking.