The future of banking: Time to rethink business models

Banking is evolving with digital-only players using non-linear business models to outperform traditional banks.

(Generated with the help of GPT-4)

The research method involved quantitative and qualitative analyses of nearly 100 incumbent banks and over 210 digital-only players across North America, Europe, Asia-Pacific, and Latin America. The study also included persona data from the 2020 Accenture Banking Consumer Study and interviews with industry stakeholders.

(Generated with the help of GPT-4)

Banking is changing due to market fragmentation and the rise of digital-only players with non-linear business models. These players focus on specific roles in the banking value chain and have seen significant revenue growth. Traditional banks need to adapt by reconfiguring their business models and product offerings to keep pace with customer and market changes. The report by Accenture analyzes the performance of digital-only banks and the strategic implications for incumbents, highlighting the need for banks to embrace new roles in the value chain and innovate their product offerings.

(Generated with the help of GPT-4)

Categories: 2021 publication year | Asia-Pacific geographic scope | English publication language | Europe geographic scope | Global geographic scope | Latin America geographic scope | North America geographic scope | banking | business strategies | digital-only players | digital banking | global geographic scope | innovation | market fragmentation | non-linear models | payments | product componentization | regulatory environment | revenue growth | technology | value chain