Banking has remained unchanged for centuries, but the 21st century is demonstrating that convenience and mobile technology are driving the evolution of this industry.
Back in the day, you needed somewhere to put your hard earned cash. Under the mattress proved unsuccessful, whereas a secure bank vault was clearly a better option.
This century, physical money has converted to electronic funds and mobile banking capabilities are soaring. Increasingly, banks are taking a hard look at their services and converting traditional methods to digital in order to keep up with SME demands.
With the rapid rise of many small, niche banks offering mobile banking without branches, weâ€™ll see a lot more acquisitions of these digital banks by the traditional big players.
Building a new digital-only banking business can meet an evolving set of customer expectations quickly and effectively. This is the new â€˜digital bankingâ€™ target market, and as the below article illustrates, it’s what DNB has recently done.
Read the full article at: www.finextra.com