Summary
As digital banking opens up to non-traditional players, whether new entrants can genuinely win against incumbent banks in financial services took centre stage at the Great Debate session from Twimbit's Asia Pacific Telecom Summit 2021, hosted with F5 Networks. Twimbit spoke with Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, and Suman Gandham, Founder and CEO of Finin Bank, about what it takes for telcos and neobanks to build lasting positions in the sector.
Rising financial inclusion and increasing per-customer demand for digital financial services are expanding the opportunity, while customer centricity, transparency, and simplicity have become the differentiators that determine which providers earn long-term trust. Brand recognition and distribution networks on the telco side pair with the technology agility neobanks bring, and low-margin products can serve as an engagement funnel toward higher-margin lifestyle financial services such as insurance and wealth management.
Segment-focused strategies targeting underserved rural populations, urban professionals, and students, along with the regulatory guardrails needed to sustain customer confidence, round out the discussion on where the next wave of financial services competition is heading.
- Direct commentary from Airtel Payments Bank and Finin Bank on partnership and growth strategy
- Covers how regulation shapes trust and long-term customer stickiness in digital banking
What will ultimately decide whether new entrants can out-compete incumbent banks in financial services?
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