Agile holds the key to competition and growth in financial services

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Fintech

bas-lemmens

Bas Lemmens

VP EMEA

Pivotal


The pace of change in the financial services sector is such that traditional business models are no longer viable, and firms that have stood the test of time must adapt in order to survive. A recent Gartner report found that by 2030, 80% of heritage financial firms will cease to exist, become commoditised or achieve “zombie” status (i.e. those that are unable to cover debt servicing costs). The metaphor here is quite apt: dead yet ostensibly alive, sluggish and prone to cause people to run away. While many will point to examples of digital transformation and technological disruption as the drivers of rapid change, in the financial sector, these factors can only partly be held responsible. In reality, the introduction of new and…

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