Learn more about Raisin as an employer
Learn more about Raisin as an employer
CLICK TO WATCH | 2:09
33 changing ,” he explains . “ One question I ’ m often asked is ‘ what will the world of finance look like in five or 10 years ?’ and it ’ s difficult to predict – I think it was Bill Gates , for example , who said that we need banking but we don ’ t need banks . You look at traditional banks and incumbents in today ’ s market and it ’ s a difficult position to be in . They ’ re improving significantly in terms of how they interact with customers , but it ’ s very difficult with legacy systems .”
In contrast , says Mountford , challenger and neobanks are able to offer a level of personalisation through their technology that is crucial in the long term . “ Despite this , the challenge for them will be building on the breadth or depth of that relationship and bringing customers into a more profitable environment in the long term ,” he adds . “ Ultimately , consumers are interacting with different companies and models for different reasons . The customer is in control ; whatever you do , it has to be delivered in a way that genuinely earns the rights of that customer ’ s loyalty over time .” www . fintechmagazine . com