Think about TransferWise, one of the few British tech unicorns (private companies worth over $1 billion), and PayPal when it comes to payments and peer-to-peer matching services. Or how about the blockchain — the technology that underpins bitcoin. Or online-only banks?
All in all, the way we bank and pay for things are completely different from 20 years ago.
But the biggest shift in banking industry during the tech revolution is the switch from complacency to collaboration, said Richard Lumb, the CEO of Accenture’s financial services business to Business Insider on the sidelines of the World Economic Forum in Davos, Switzerland.
Lumb is very well placed to make this assumption. He has spent over 28 years developing strategies and business models for banks, brokers and other financials but at the same time helps run the annual FinTech Innovation Lab London, which is a mentoring programme for startups.
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What I have found interesting is how opinions have changed from Davos two years ago
said Lumb in an interview.Read more http://www.businessinsider.com/accenture-financial-business-ceo-richard-lumb-davos-interview-fintech-blockchain-2016-1