and which fintechs have to integrate with are a half century old and move at a glacial pace . One of the challenges of being part of a fintech firm is to be able to move with alacrity yet remain pinned down waiting for industry incumbents or regulations to evolve . Managing this and still getting new features into customers ’ hands quickly is increasingly becoming a fine art .”
The implementation of that “ fine art ”, will very likely change the face of the industry for incumbents , certainly
if Accenture ’ s latest work is to be believed . For Hansen , the focus on personalised financial services isn ’ t going to abate . “ As consumers continue to expect a more personalised experience the concepts themselves will need to be challenged . As an industry , we tend to like to structure products into decades-old categories like checking , savings , investments and so on , but with personalisation these lines will blur and people will simply get the features they need .
“ I expect that simpler and more transparent products will evolve , which demonstrate new ways of thinking in financial services . Apple didn ’ t just create the first digital music player , it revolutionised music with the iPod – it was the simplicity and form of the device that captured the imagination of consumers . We have yet to really see this in financial services , but I ’ m very confident that we will .”
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