This Week in Consulting
Wednesday, January 15th 2020
Will Fintech Startups be Disrupted?
THIS WEEK’S MUST READ
“Fintechs are growing rapidly. Their range of offerings and the number of customers are expanding as they target the pain points that clients experience with traditional banks. Its “Bank-as-a-Service” model enables it to acquire customers at higher volumes and lower costs than traditional banks. This helps pay higher interest on customer deposits than traditional banks do.”
This podcast presents an overview of the most interesting trends for 2020 in Fintech and why it is disrupting traditional banking.
This Week’s Must Read is an insight piece from Knowledge@Wharton where Luvleen Sidhu discusses how her firm’s “Bank-as-a-Service” model enables disrupts traditional banks.
Read on to Find out More: “Why Fintech Is Disrupting Traditional Banking“ | Luvleen Sidhu, BankMobile for Knowledge@Wharton.
THIS WEEK’S VIDEO:
A Fintech founder, a venture capitalist, and a leading lawyer discuss the future of Fintech banking.
- Synergy and disruption: Ten trends shaping Fintech– “Financial institutions are engaging with Fintech start-ups either as investors or through strategic partnerships. Almost 80 percent of financial institutions have entered into Fintech partnerships, according to McKinsey Panorama.” This article explores the evolution of the use of technology in financial services and how it comes to disruption. | Jeff Galvin, Feng Han, Sarah Hynes, John Qu, Kausik Rajgopal, and Arthur Shek, McKinsey
- Unleashing AI’s potential in financial services: “Many banks have already begun their AI journey, albeit with relatively narrow applications. At the front-end, chatbots have started to replace humans in digital customer interactions, for example. Internally, the industry is investing heavily in AI-enabled solutions to enhance automated threat intelligence and prevention, and fraud analysis and mitigation.” How financial institutions can overcome the barriers in AI deployment and capitalize on the true potential of this technology? | Luis Rodríguez, Strands
- Big Tech takes aim at the low-profit retail-banking industry: “The Annual Web Summit in Lisbon each year is Woodstock for geeks. Over three days in November, 70,000 tech buffs and investors gather on grounds the size of a small town. Rock stars, like Wikipedia’s boss or Huawei’s chairman, parade on the main stage.” Cryptocurrency, credit Cards, accounts…Why would the GAFAs want to be a bank? | The Economist
- The Digital Banking Era, an Expert’s Opinion: “The race of the digital banking age is heating up and shows little signs of abating. From a growth perspective, the global digital banking market was valued at approximately $6.6 billion last year and is expected to generate around $8.5 billion by the year 2025.” This interview shows how the rapidly changing and disruptive landscape of this market has attracted new entrants in the shape of Fintech startups. | Sonia Wedrychowicz, McKinsey for DisruptionBanking.
CONSULTING INDUSTRY NEWS
- Increase in Global Spending for Mining Explorations to Improve Adoption of Personal Protective Equipment: “As multinational mining companies have expanded their geographic footprint, the focus on developing a safe working environment has increased and has resulted in the industry adopting a ‘safety-first’ culture,” said Sanjiv Bhaskar, Vice President of Research, Frost & Sullivan. “This is expected to support the demand for PPE in mining activities in the coming years.” | Jacqui Holmes, Frost & Sullivan
- Why P&G Is Buying Billie: “Recently Procter & Gamble (P&G) announced it was buying direct-to-consumer (DTC) women’s razor company Billie to add to its women’s grooming business. And this acquisition is expected to complement P&G’s portfolio of women’s consumer product brands like Venus and Joy” | Amit Chowdhry, Pulse 2.0
- WebMD Launches WebMD Care, Connecting Consumers to Health Care Professionals: “Building on WebMD’s former Physician Directory, WebMD Care has expanded to include more physicians, as well as chiropractors, dentists and health care professionals (HCPs) specializing in acupuncture and holistic modalities. Enhanced professional profiles on WebMD Care highlight HCPs that are actively accepting new patients and offer a richer profile on background and experience” |PRNewswire
- Global slowdown in M&A to continue in 2020: “With a number of macro-economic challenges still putting investors off splurging on M&A in 2020, the slump on global deal performance is likely to continue well into the new decade. However, according to a new study, there will still be opportunities for strategic investors to make their mark.” | Consultancy.uk
The Consulting Quest Global Directory is the largest professionally-managed directory in the consulting industry. Searchable by consultancy , name or by region, capability or industry it lists and describes more than 6000 consultancies worldwide with links to their websites and social media channels.
Interested in submitting?
If you are interested in submitting an article, an event or an ad, contact us!
CONSULTING SOURCING TIPS
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
[et_social_follow icon_style=”slide” icon_shape=”circle” icons_location=”top” col_number=”auto” total=”true” outer_color=”dark”]
Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.