The Future of Banking : Navigating a Rapidly Changing World
تاريخ النشر: 23/09/2025
الناشر: مركز تريندز للبحوث والاستشارات
نبذة الناشر:The banking industry has changed significantly since the 2008 global financial crisis, and the market is currently characterized by different levels of labor productivity, evolving regulations, increased competition, and higher capital costs (McKinsey, 2024). These developments are primarily driven by new technologies revolutionizing the financial industry, providing innovative sales channels ...and solutions that enhance customer experience while reducing costs (Thakor, 2020). Banks have responded by developing innovation hubs or accelerators, allowing traditional financial institutions to rapidly adapt their business models to the new financial industry scenario (Blackstad and Allen, 2018). This new business model, known as the open banking model, is less focused on collecting private data and more on data sharing and big data analytics to improve customer journeys (Kelly, 2014).
The emergence of this new industry is typically attributed to the global financial crisis, which exposed limitations in traditional financial institutions and fostered consensus around developing alternative banking systems (Cortina and Schmukler, 2018). Initially, growth among new players primarily targeted individuals excluded from traditional finance (Buchak, Hu, and Wey, 2021). However, today, businesses and individuals alike view non-traditional financial institutions as reliable counterparts for a variety of financial contracts.
Today's financial market significantly differs from traditional finance, incorporating fintech startups, neo-banks, challenger banks, and big-tech companies. إقرأ المزيد