Most incumbent banks offer platforms that are inferior to what customers have come to expect.
Now, bigtech and challenger brands are entering the financial services market to offer propositions that are superior to incumbent banks.
Some of these propositions may face skepticism about whether they can scale up or get industry adoption, but for now, they’re building end-to-end digital businesses that are rapidly scaling. If these new platforms reach scale before the incumbent banks get innovation right, those banks might be in serious trouble.
Incumbents can try to transform their massive legacy IT infrastructure to defend market share, or they can start a completely new digital-first business from scratch that focuses on a specific customer need: a greenfield bank.
Time to market:
Cost Income Ratio
Future proof architecture
Digital-first banks introduce new features and functionality 10x faster by having the right people, culture, and agile organizational principles.
Digital-first greenfields focus solely on best-in-class services and offer personal and transparent experiences for a specific niche.
With an end-to-end digital operation, greenfields can operate at a cost/income ratio that is approximately 30-40% cheaper than traditional banks after a digital transformation.
Since building services with legacy systems can be both inflexible and expensive, we want to share how easy it is to launch a greenfield from scratch.
Learn how to leave aside old legacy systems, get to a new market faster with a truly customer-centric offering.