The Disruption Revolution


Asset Management, Corporate and Investment Banking, Fintech, Insurance, Retail Banking

Richard Nolan

Operations Director

The Financial Services Forum

We are at the beginning of a financial services revolution. True disruption in the sector is only just starting to take shape. Amazon, eBay, Expedia, Uber and Betfair all changed the face of the markets they serve beyond all recognition. Five years from now, some of the technology and FinTech start-ups emerging today will have become the accepted way for people to use financial services.

As part of our regular 60-Second article in our journal, Argent, we’re asking Forum Members and the wider financial services community: How are you navigating the rapidly evolving landscape and preparing for disruption, or – even better – becoming a disruptor?

We’d be delighted to have your thoughts – in about 120 words. The best comments will be selected for publication as part of our article in the next issue.

Please log-in and use the “Post a comment” button below to give us your views.

To view the Argent article, please visit the resource page at


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Frances Gordon

Head of Business Development

Simplified Communication

Jun 15, 2016

Disruption is also about transparency and treating customers fairly – in these, the technology is the enabler rather than the outcome. Sometimes, the simplest things have the largest impact to how the customer perceives a bank or an insurer. For example, a small word in a contract like 'you' instead of 'the insured' can make all the difference.


Jamie Brookes

Head of Communications & Marketing, Business Banking Switch

Natwest Group

Jun 8, 2016

Disruption is good, disruption is innovation. Disruption offers customers a better service, with better products and more efficient processing. Disrupters question the norm, offering a different perspective. Without disruption, we wouldn’t have the 30% Club, we wouldn’t question gender (or other) diversity at a leadership level, we wouldn't have the Women’s Sport Trust, a charity that raises the visibility and impact of women’s sport, increasing media coverage and improving funding. I’m proud to play my part in these, choosing to leave behind those who fear change and the opportunities it presents. While the industry waits to react, it is those who are the agents of change who will reap the rewards of a more confident and less loyal financial consumer. Don’t hate the player, change the game.


Doug Hewett

Founding Partner


May 27, 2016

Disruption isn’t just about new challenger brands – it’s about open collaboration and what we can achieve in partnership. Some of the biggest global banking brands are fueling mass disruption by opening up platforms and collaborating with clients, entrepreneurs and experts. Think CitiBank's partnership with America Movil in Mexico to launch Transfer, a mobile money service for the unbanked. They’re becoming more agile: tapping into the innovation ecosystem to stay in beta and co-solution lean improvements and innovation through dedicated incubators and hackathons. Think Barclays' Rise Hubs or BBVA's Open Talent competition, which invites submissions from young entrepreneurs and FinTech innovators. They’re becoming more people-focused: leveraging their global network to crowdsource the best ideas and find the world's leading FinTech talent. It’s a new mindset – game-changing innovation can’t happen 'solo', we need to work together on it as an industry. Scale is irrelevant – mindset and approach is everything – the best disruptors are the ones that believe in being open, agile and people-focused.


Shaun Ledgerwood


niu Solutions

May 27, 2016

Today’s disrupters have emerged without having to struggle with legacy systems, which can stifle growth and digitalisation. As a result, challenger banks now have the flexibility to implement a robust and flexible IT infrastructure that is suited to their specific needs. Traditional banks, on the other hand, face the challenge of combining their systems with new applications and cloud-based platforms. Without a doubt, the disrupters dominating the business world today are using technology to set them apart from other firms in the market, but their traditional counterparts can still compete. A bespoke IT offering can help these businesses to listen and respond to the needs of their customers by enabling a seamless integration between the old and the new. Above all else, a sharp focus on the customer remains at the heart of digital disruption, so traditional companies, including banks, will need to implement systems that can cater for the customer’s specific and fast-changing needs, both quickly and easily.


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