Post by Dr. Metin Mitchell

The AI and digital age that is upon us is destroying traditional job after traditional job. In many cases this is to be celebrated as we, the consumer, benefit from greater efficiencies of purchase, service and opportunities. In no industry is this as visible as in the field of Retail Banking. Today consumers are faced with exciting offerings from any number of ‘challenger’ digital banks such as Revolut, N26 and Monzo. They offer, as we all know, speed of service, the elimination of the need to go to a branch or stay stuck on the line for some infuriating call centre process. For some time now the legacy banks have cottoned on to the fact that digital and mobile banking is the way forwards. It is clearly a compelling proposition when they look at all the cost advantages of providing services without a branch network. And so it is that banking groups like Santander (Openbank), BNP Paribas (Hello) and ENBD (Liv) are responding with their own version of challenger banks. But banks of all kinds are also being challenged by alternative payment systems such as Apple Pay, WeChat and Google Pay... #digitalbank #millennials #legacybanks #digitaltalent #security #trust