A pervasive lack of differentiation is apparent across all aspects of financial services. New entrants and forward-leaning incumbents have begun to exploit the market vulnerability wrought by “sameness” for their own competitive advantage. Fueled by technology and a willingness to question legacy assumptions, fast movers have triggered a renaissance of re-architected products, business models, and ways of delivering services to customers.
As financial services firms confront the many disruptions to their businesses—low interest rates, rapidly evolving technology, the explosive growth in FinTechs—they face an existential choice: wait and respond to external disruptions as they appear or grasp the opportunity to “disrupt themselves from within” by harnessing the power of these emerging capabilities to fundamentally recast the value they provide their customers.
This year’s CEB Financial Services Technology Summit will separate the hype from the real world evidence of successful technology-enabled innovations and how their application to product, service, and delivery strategies is reshaping value propositions across the industry.