The 3 strategic growth options for banks to win the future

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Summary

Venture funding and fintech start-ups have poured into banking faster than almost any other financial services category, forcing incumbent banks to move quickly or risk losing ground. Growth opportunities for banks now center on how they compete against a new wave of digital-native challengers and, increasingly, large technology companies eyeing financial services.

Three distinct opportunity areas frame the discussion: owning more of the customer's broader life journey rather than just a single transaction, making banking services invisible enough to be embedded seamlessly into everyday consumer activity, and expanding how many financial products the average customer actually uses. Each represents a different growth lever, and capturing them would require different operational and technological choices.

Drawing a parallel to how telecom operators lost ground to digital-native players like messaging and streaming apps, the question is whether banks are better positioned to defend their turf. Strategic choices facing banks are set out as they decide where to focus their core competence and future investment.

  • Why average per-capita consumption of financial products remains far lower than mobile app usage
  • What "invisible banking" means for embedding financial services beyond the banking app itself
Will banks capture the next wave of financial services growth themselves, or lose it to fintechs and technology giants the way telcos lost ground before them?

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