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Disruptive Innovations Finance

Disruptive Innovations Finance
The financial sector is facing disruption. However, the question is who is driving these changes.

Hence, digitalisation brings us disruptions in a wide variety of industries. Consequently, the book trade has been hit particularly hard – especially in the USA.

Now Imagine something similar happening in the financial sector. Start-ups or significant digital players such as Amazon, Google, Facebook (Libra) and Apple are starting to turn the traditional banks’ business models upside down with innovative concepts.

Our personal opinion, the financial sector does a bad preparation job for this change due to the fear of losing the job and the pressure on quarterly results. After all, it looks like traditional banks will lose business and finally end up as a transaction bank. However, there is already the next threat waiting for them – the blockchain.

Finally, the digital disruption of banking business models is about more than a radical change in an industry. It’s about a drastic change in our entire financial system. And this is how disruption at banks differs fundamentally from upheavals in all other sectors.

A major disruptive competitor is now Revolut, which in some countries is already challenging a sizeable proportion of retail customers to banks.

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Revolut Digital Banking

Reading Time: 4 minutes Do you still give away money The startup from London attracts numerous new customers with a modern app and many sophisticated, free services. Open your Revolut Account here. Credit card A small piece of plastic with a chip that costs almost nothing to produce. It enables money transfers that de facto cost nothing at all. The …

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