What Differentiates Banking and Fintech? - 11FS

 David M. Brear photo
David M. Brear Group CEO
5min read

The Financial Brand

Technological innovation is creating new business models and revenue opportunities for FinTech firms globally. As disruption in the banking sector continues, what are the lessons that legacy banking organizations can learn from the new start-ups?

From a very basic level, the digital disruptors are usually associated with mobile functionality, simplicity, big data, accessibility, agility, cloud computing, contextuality, personalization and convenience. Alternatively, with the exception of convenience (from a physical location perspective), most traditional banks have few of these qualities.

What do industry leaders think? What is the biggest difference between FinTech start-ups and incumbent Banks?

This article was first published on the Financial Brand in July 2015.

 David M. Brear
About the author

David M. Brear

David is the CEO of 11:FS and since his dream of being a sportsperson was crushed (along with the ligaments in his knee!) and he had to get a proper job, he has worked in pretty much every angle of financial services industry but never lost that competitive desire to win.

We are 11:FS

We believe digital financial services are 1% finished. We’re building the next 99%.

What we do

11:FS builds next-generation propositions for challengers in the financial services industry: existing firms looking to innovate, start-ups looking to scale, and everyone in between.