5 Results
Jp Nicols Managing Director at FinTech Forge
Bankers have long sought a competitive advantage in a vast sea of largely undifferentiated competitors. For most players, and for most of the industry’s long history, the chief weapons in this war have been scale and localization. Either growing large enough to create economies of scale and/or scope, or trying to corner one or more local markets b...
22 January 2014 Innovation in Financial Services
Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. According to a study by KPMG conducted in June 2012, 9 out of 10 banks are considering a serious overhaul of their strategy, and 40% say that wealth management and asset manage...
12 February 2013 /retail Innovation in Financial Services
Wealth management is an attractive business line for banks. Affluent clients hold higher balances, have lower credit default rates and utilize more fee-based services than the average branch consumer. No wonder forty percent of bank leaders surveyed by KPMG in June 2012 said that wealth management would be a critical component of their growth plan...
05 February 2013 /retail
Banks don't even show up on Booz & Co.'s Global Innovation 1000 spending report. They are lumped in to the "other" category of all industries except the top nine. All of the other industries combined only account for 2% of the $603 billion spent on research and development in 2011. Average R&D intensity, that is R&D spending...
04 February 2013 /payments Innovation in Financial Services
Sometimes the simplest lessons are the hardest ones to learn. Anyone who has taken even the most basic business course in the past fifty years is undoubtedly familiar with Theodore Levitt's 1960 treatise “Marketing Myopia”: "The railroads did not stop growing because the need for passenger and freight transportation declined. That grew. The r...
01 February 2013 /retail
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