Disruption is Already Here


Disruption is already here. It just isn’t widely distributed yet, as William Gibson famously said about the future.

Most of the disruption that we have seen in financial services so far has been on the surface, at the Experience Level. Customer touchpoints are often just digital wrappers around the same-old, same-old. Especially most of those created by incumbent financial institutions. Think of a simple financial app with limited functionality, such as balances and transfers.

A little deeper down at the Tactical Level, digital connective tissue such as APIs, cloud services, straight-through processing, and the like require more work to reengineer the underlying processes, but also enable more meaningful differentiation and operating efficiencies. Think of the best in breed financial apps, such as those from the digital-only challenger banks and the most innovative financial institutions.

At the core, or Strategic Level, the business is fundamentally changed, and new sources of value…



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