If anything prompted agility, it was the pandemic. Most banks surprised themselves by how agilely they responded to the immense changes required in record speed. Celent’s Model Bank virtual event brought banking professionals together to discuss the importance of agility in banking, what makes a bank agile and how it can become more agile.
The platform economy, today’s economic and/or social online matchmaker, is set to transform another industry – financial services. To keep up, banks will need to adapt their business models to an outside-in approach that recognizes the importance of openness and collaboration in developing personalized products and services that enhance the banking experience for customers and enable them to manage their finances holistically.