Disruption may be an overused term, but it certainly is appropriate for financial services. And it’s leaving banks in a quandary.
In many cases, banks’ workforces were designed for a world where people walked into bank branches to make a deposit or withdrawal.
Now, consumers are likely to head to the cloud to make an instant payment on their mobile phones.
To compete, banks need to rethink talent and transform, and do so quickly. Banks need to essentially become tech companies that provide banking services.