In modern banking, new digital challengers are taking on traditional players by providing a better experience for end-customers. Banks need to either keep up or get left behind. On the seventh episode of Mr. Open Banking, Eyal is joined by David Brear to discuss what David calls “The Banking Battlefield.” The two dive into FinTechs' role in challenging major banks to solve consumer problems and the reasons why banks are inhibiting themselves from making changes. David Brear is the Founder and CEO of 11FS, a world-renowned FinTech consultancy that focuses on building and launching the next generation of digital propositions for some of the biggest banks in the world.
Specifically, David and Eyal Discuss:
What exactly “The Banking Battlefield” is and what it looks like today;
The difference between digitize and digital;
What GAFAs entrance into the FinTech space means for big banks;
The relationship between fintech and open banking.