Tuesday, February 16, 2016
You do not think that what you call "cosmetic banking" is a logical first step on how from a large corporation begin to understand what is happening in the world Financial technology? It is very difficult from a large corporation assimilate the paradigm shift of new non-traditional competitors, which operate with different game rules because its business model is different snatch such as the Financial technology. And at first they are so small that they are not able to be observed. I think that the various forms of "cosmetic banking" must generate an open collaboration with Financial technology based on a strategy that will cover different products and services first. And in parallel, substitution processes within the business model of the incumbent, always with the customer in mind.
The big problem of the bank is the "transition" of the entire infrastructure over the current model, coupled with the fact that today is not 100% of likely changes in your supplier of financial services customers. This is an advantage for banks, but while perhaps a disincentive to undertake a necessary processing time. Somehow, the bank "must accompany" the technological adaptation of the clients themselves and yes, it is true, you should do perhaps more proactive and less reluctantly.
it is very difficult for a huge corporation like a used-competitive bank, especially as the tendency to be rescued with public money when in trouble and his habit of running a model Situation agreements between banks to distort markets (Forex), does not help much.
However, rather than denounce their slow reaction, which we draw attention is the kind of competition that seek to establish that, instead of being oriented to provide better customer service, it is based on tripping to the competitors, which it is obviously not working for them, given the growth of Fin-tech industry and in our opinion is preventing them starring the change in strategy that clients are suing him.
Of course, there are no obstacles hindering banks Fin-tech function as a barrier, but do not. Why? Well, I think that they have not yet realized that there has been a change of scenery, there are some new players that are winning over customers by giving them a better service. Most of them still believe that the regulation void the competition will get these new players.
This would be the superficial explanation, the underlying reason is that banks refuse to change their attitude to really act as a Fin-tech whose main objective and rationale is differentiated by means of a model based on efficiency and customer service . Banks continue their practices unclear, to put it mildly, focused on their own benefit rather than solve customer problems. Changing this orientation is the first step to act as a Financial technology.