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Commercial banks join the retail revolution: three reasons to consider transformation » Banking Technology
22 June, 2017 Written by Banking Tech
Rina Pandalai, SapientRazorfish: calling on commercial banking industry to embrace digital transformation
In 2015, Dave McKay, the chief executive of Royal Bank of Canada (RBC) , warned that traditional retail banks were on a “collision course” with the likes of tech giants like Apple and Google.
Later the same year, Antony Jenkins , former group CEO of Barclays, predicted that within ten years, fintech players would “substantially disrupt” the traditional banking industry, possibly reducing employment in the sector by 50%.
These were threats that the consumer banking industry took seriously, as many financial…
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