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Good post! However selecting a vendor that has predefined workflows and processes isn't a must. In fact, pre-defined workflows and processes is irrelevant when you are trying to overall an internal banking system. Tailored workflows that work specifically
for the bank while mantaining modularity and interoperability sound like a better option.
Chief Technology Officer, Global Payment Solutions
27 Jun 2015
This post is from a series of posts in the group:
Growth in internet and mobile technologies has transformed many industries and economies. The market forces and competitive landscape has completely changed in many sectors. iTunes has fundamentally changed music industry, Amazon has driven most big brick and mortar book sellers out of business, Expedia is one of the worlds' biggest travel company….. the list goes on.
Internet and mobile technologies are big disrupters for most industries. What started (and tapered a bit!) with the dot com boom of 2000 has become a lethal threat to most business models today. Powered by mass adoption in mobiles phones, proliferation of smart phones and cheaper band-width, internet and mobile technology have changed many industries.
The banking industry in has been dominated by a handful of big global or regional banks for 100s of years. While the credit crisis has shaken this industry, the core market forces for the industry have not changed.
Will Innovation in Internet and Mobile technologies disrupt retail banking?
Will there be 5 new names in global top 10 retail banks in 2020?