THE FOUNDATIONS FOR PROGRESSING BANKING ECOSYSTEMS
“ Using information in meaningful and straightforward ways has become the new standard in this digital era ”
— Microsoft
51 a wider share of customers . As such , banks operating in countries with high concentration rates across industries have larger incentives to be first movers to secure partnerships with the largest industry players and hence gain rapid customer adoption ,” adds Accenture .
Regulations With the rise of fintechs , banks are facing challenges when it comes to regulations . “ Fintech startups , born in the cloud and far less constrained by regulatory requirements and legacy cost ,” says
Microsoft . “ They target some of the most profitable areas in financial services while also delivering better customer experiences . In extreme cases , fintech solutions offer services completely outside of the monetary system , such as bitcoin that , if successful , may call into question the very need for banks .”
THE FOUNDATIONS FOR PROGRESSING BANKING ECOSYSTEMS
In order to remain successful as digital banking ecosystems continue to rise , PwC explains the need for a culture and
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