Tag: Disruption

Uber, But For ATMs

FinTech Disruption

It is a cliché in Silicon Valley that every start-up seems to call itself the next Uber of something. If not, Uber, then it is “AirBnB, but for __________ “.  However, a Philippine startup Coins.ph might be on to something that is a combination of both of those disrupters. “Teller,” Coin.ph ‘s new smartphone app allows users to get cash from other users in a secure and convenient manner. Now we are not sure it will catch on, but the concept of a distributed banking experience is intriguing.

  

This Graphic Should Give Every Bank Shivers

Bank Technology

When Goldman Sachs reports that 33% of Millennials think they won't need a bank in five years, know that they could be right. Below is a graphic from CB Insights that shows how there is a startup fintech company that almost covers Wells Fargo's entire business model. Look closely as they take Well's website and map back to each startup. This is a great graphic to display at your next strategic planning session (that is hopefully a quarterly meeting) as it generates a conversation about what areas your bank is going to defend and what it might cede to a startup.

 

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