Why Banks Have to Digitally Transform -- The Rise of FinTech -- The Rise of Challenger Banks -- The Big Tech Threat -- Changing the Regulatory Structure : Open Banking -- Lack of Leadership -- Planning Transformation -- Doing Digital : An Interview with Piyush Gupta, CEO of DBS, Singapore -- Doing Digital : Lessons from Leaders -- The Leadership Challenge -- The Technology Challenge -- The Customer Challenge -- The Employee Challenge -- The Partnering Challenge -- Is Digital Transformation Worth It? -- What happens if banks do not transform? -- Conclusions -- Appendix: The Five Banks Selected -- BBVA -- China Merchants Bank -- DBS -- ING -- JPMorgan Chase.
Summary:
There has been lots of discussion of digital and open banking, banking-as-a-service, banking platforms, FinTech and TechFin and more over the past decade. This all indicates that we are in a decade of rapid cycle change that presents huge challenges and huge opportunities. Billion dollar unicorns appear rapidly, whilst internet giants achieve global domination. How are banks dealing with these changes and are any banks showing leadership? Well yes, a few are. With all the gloom merchants saying that traditional banking is doomed, a few banks have made radical moves to adapt and survive.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.