That is because financial institutions remained the dominant players and adapted to these changes, often by buying emerging competitors, adopting the technology and reducing access to legacy services to compel customers to adapt. 4 I see a combination of factors that point to the potential for greater change this time. First, customers are more demanding than in the past.
They are looking for more convenient and cheaper access to financial services that are well integrated with the rest of their online activities. Customers expect these services to be personalized, and faster, in part because of the widespread use of smartphones and the speed with which new apps can be pushed out.