Disrupting traditional industries.
From the perspective of incumbents in Financial Services, technology disrupts their traditional industry. New technology enables existing Financial Services companies, ‘incumbents ‘, to digitally transform their existing large company to become ‘Lean’ over time, to become agile and small again.
Disrupting the lives of customers in Financial Services.
At the same time, it enables independent business owners including founders of FinTech startups and CEOs of FinTech scaleups to start a complete new game all together. By creating new business models and innovative revenue models. By starting small and staying small by using ICT.
Their mission is to positively ‘disrupt the lives of their customers’ by creating new solutions for for instance badly served customers or customers that are not served yet at all.
These niches of potential customers offline and online are called: offline and digital ‘blue oceans’.
These developments also have a major influence on executives, managers and employees working in Financial Services, the future of their current and future work in Financial Services and the skills they need to acquire.
Check out ‘‘The Future Of Work In Financial Services‘.