In addition to FinTech companies, other industries with a strong IT focus are only one step away from the banking world. We are already seeing established online enterprises starting to link their enormous customer bases and their experience in digital processes and data management with banking services. The lines between industries are blurring.
Now more than ever, banks need to be aware of what the competition is doing so that they can review and refine their own strategies. Game rule number three relates to adaptability. If you go from playing on a hard pitch to artificial turf, your tactics need to remain flexible. The digital world welcomes experimentation, is prone to sudden trends, and is constantly changing.