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FinTech innovation: Revolutionary or evolutionary business model disruption?

Author

Listed:
  • Bhalla, Ravi

    (Head of Group Design, Lloyds Banking Group, UK)

Abstract

The next wave of FinTech activity has the potential to provide revolutionary business models. Collaboration between banks and FinTechs has influenced the evolution of banking business models. But the greatest challenge to FinTechs is to maximise and sustain customer adoption. This paper takes an applied approach to analyse the impact FinTech innovation has had on the banking sector and discusses its future. It will provide details of the new operating environment, discuss the evolution of customer experience and the digital banking landscape, and will examine how these areas have disrupted business and operating models. It will also discuss the threat posed by tech giants.

Suggested Citation

  • Bhalla, Ravi, 2019. "FinTech innovation: Revolutionary or evolutionary business model disruption?," Journal of Digital Banking, Henry Stewart Publications, vol. 4(2), pages 102-110, September.
    • Handle: RePEc:aza:jdb000:y:2019:v:4:i:2:p:102-110
    as

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    More about this item

    Keywords

    FinTech; PSD2 & open banking; business models; customer experience; digital transformation; challenger banks; partnerships; collaboration; tech giants;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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