Posted by Richard Longo (View Profile | View All Posts) at 3:25 AM
There is distribution, decentralization and
disintermediation of assets brought on by digitization in today's world. This
is the brave new world of the sharing economy, and businesses are partnering
with other service providers to bring value to consumers in a scalable and
flexible manner. When banking becomes truly digital, it will resemble the
business models of today's successful platform businesses like Alibaba, Uber,
etc. There is no other industry that is as pervasive as the financial services
sector when it comes to consumers; hence this makes a solid case for having a banking
service option embedded in all applications.
Continue reading "Economics of the Business Ecosystem will come into Play" »
Posted by Richard Longo (View Profile | View All Posts) at 4:47 AM
Businesses across various and
diverse industries have seen rapid disruption in the past few years. One of the
major drivers for this disruption is the consumer and how they are coming to
expect a Frictionless approach. Some have called it the Uber effect. No cash is
needed, it is on demand and simple to use. That experience is what customers
are now expecting when interacting in the Ecommerce world. Many traditional corporates are playing
catch-up and some like Sears, JC Penny's, American Eagle, Sports Authority and
Barnes & Noble cannot pivot fast enough, leaving them in a position of
reporting negative growth or closing all together. Players like Amazon are disrupting
their business models by leveraging the latest in technology and rolling out
customer centric digital offerings. These offerings appealed to the digitally
savvy customers and those companies have grown rapidly over the past few years.
Continue reading "Accelerating journey towards digital banking with a 'Bank within a Bank' model" »
Posted by Richard Longo (View Profile | View All Posts) at 9:22 AM
How many features of that fancy smartphone do you use on a regular basis? If you're like me, an average mobile phone user, not many, I bet.
The thing is, it's no different with for mobile banking. While mobile technology continues to evolve rapidly - take wearables for instance, which will be the second highest selling consumer electronics product by 2020 - banks are yet to exploit even its existing power to the fullest.
Continue reading "Mobility First and Fullest" »