PwC: For FIs To Succeed, Act Like Tech Startups

FIs have traditionally been “slow to react,” Odunuga says, leaving them vulnerable at a time of rapid innovation. Rather than adopting a wait and see approach, Odunuga says banks should leverage their current assets that put them in the lead today “”consumer trust, consumer ownership, security, and risk management, for example “” and build additional capabilities to extend beyond their comfort zones.