Emerging Start-Ups And Tech Giants Will Create New Winners And Losers In The Digital Banking Industry

The relationship between consumers and their banks is in a period of dramatic upheaval brought on by the rapid pace of technological innovation. Bricks-and-mortar banks are losing relevance among consumers — particularly millennials.

Fifty per cent of North Americans say they would be likely to bank with tech start-up Square should the company offer a banking service, for example.

In a new report from BI Intelligence, we analyse how consumer banking habits have changed, how its affected retail banks and we explore a number of things banks can do to stay ahead of the curve.

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Here are some of the key elements from the report:

In full, the report:

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