Can You Build Tomorrow’s Bank With Yesterday’s Technology?
February. 16, 2016 - Global Banking and Finance Review
Much talk recently has centred on the booming FinTech industry, yet relatively little consideration has been placed on the large institutions from whom they are taking market share. The banks are losing ground, with significant infringement in the fast-moving payments sector. The banking industry faces a dilemma about how to respond to this threat.
It is important to balance the need to reinvent while maintaining current operations, also known as the “Two-Speed World” — meaning that businesses must hold on to mission critical systems while creating digital innovations.