There are hundreds of fintech challenger banks globally, but just a handful of traditional banks that have successfully launched a digital pure play? KT Chan of @HuaweiEnt tells us why it's so tough for banks to go pure play #Fintech #PurePlay #Digital youtube.com/watch?v=OjXnTj…
@BrettKing @HuaweiEnt I’d love to see some fintech banks innovate on the product end as well as the distribution/ channels Most digital banks largely copy the product structure of incumbents - for me digital banking 2.0 does far more with understanding how demographics and groups use money day to day
@Paul_GreyKnight @HuaweiEnt That’s true. But at the same time Fintechs pioneered so much - all the mainstream wallet features, new credit like income smoothing, best practice app features forcing banks to respond, digital IDV, social payments, BNPL, robo advisors, etc etc
@BrettKing @HuaweiEnt Always thought money management apps had the right idea but were only a very thin layer above much legacy stuff - would interesting to build to top to bottom using similar principles.
@Paul_GreyKnight @BrettKing @HuaweiEnt Have been thinking about this a lot lately, but in the context of verticalised ecosystems or (dare I say it) SuperApps for specific communities/demographics/industries… Doesn’t even need to be a digital bank to deliver it.