Monday 14 March 2016

**NEW RESEARCH** Disruption in Banking - a European perspective

TechMarketView aims to keep an eye on the European scene to look for insights which might be applicable to the UK market. Last week’s “Future of Retail Banking: Europe” event in Vienna was a good opportunity to see what challenges are facing European Banks, and how they are tackling them. TechMarketView Associate Richard Johnson was there, chairing several of the workstreams, and he provides his analysis in a new report for TechMarketView.

This report highlights that while the European banks are facing the same problems of low interest rates, legacy systems and new competition, they have additional obstacles and different starting points which determine their strategies. But there are clear examples where UK banks, and their SITS suppliers, can learn from the European experience. For example, an Austrian bank has a very successful approach to the deployment of innovation, a Dutch bank is building fintech into its core mobile banking services and a French bank is being successful in building a consistent transformation approach in all its international markets.

A central lesson to be learned is that the banks need to have the right balance between new-style and old-style banking - and to recognise that being an incumbent brings significant advantages that should be the focus of investment and attention.

This report is available to subscribers to FinancialServicesViews here.

Posted by Peter Roe at '09:10' - Tagged: mobility   legacy   banking   FinTech   customerexperience