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Bank Strategies in the Light of the Digitalisation of Financial Activities

In: FinTech, BigTech and Banks

Author

Listed:
  • Alessandra Tanda

    (University of Pavia)

  • Cristiana-Maria Schena

    (University of Insubria)

Abstract

Incumbent firms are responding to the challenges of digitalisation by adopting a number of strategies. The large international banks are implementing a mixed strategystrategy that includes shareholdings in FinTechFinTech companies, partnerships and also in-house development in the different areas of financial intermediation that are being affected by technological innovationinnovation. Many initiatives focus on lending, online banking and payments but wealth management and support technologies for middle and back office are also in place. The degree of disruption caused by the initiatives varies, with many banks mainly focusing on the digitalisation of channels. Smaller banks face additional constraints because of their limited size and investment potential, together with their traditional link with the territory they operate in and their traditional approach to customers. DigitalisationDigitalisation has become a key issue for these intermediaries, too, if they are to be able to cope with competition not only from FinTechs and BigTechs but also from larger incumbents and new entrants. Of the latter, digital native banks have started to operate successfully on the market through innovative business models and by offering highly digitalised content and services, which meet customers’ expectations. These can be created by incumbent firms, new entrants or BigTechBigTech conglomerate spin-offs.

Suggested Citation

  • Alessandra Tanda & Cristiana-Maria Schena, 2019. "Bank Strategies in the Light of the Digitalisation of Financial Activities," Palgrave Macmillan Studies in Banking and Financial Institutions, in: FinTech, BigTech and Banks, chapter 0, pages 51-81, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-22426-4_4
    DOI: 10.1007/978-3-030-22426-4_4
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