Innovation

Innovation Project 2017 Conversation Starters: Betting Big …. On Banking Redux

The bank is an institution that has survived centuries. But nothing survives that long in immutable form. Consider the musty vaults housing gold and notes, parceled out by appointment, transforming (rather quickly in the here and now) into digital dollars in digital wallets. The branch and teller and service stellar are not enough to keep a steady patter of traffic in to keep the real estate paying for itself. The money has gone from hand-off to in-hand. The in-hand is through the mobile device. The mobile app has helped replace the point of human contact.

With the coming of the millennial generation, this replacement of the tangible in favor of the digital is just the way those customers want it. The banks themselves, then, are left to play catch-up with the demands of a clientele skewing ever younger, with a more existential question at hand than just technology platforms.

In sum: Just what is a bank, and what should a bank be, in the digital age? Which functions are to be changed, and which should be kept – and which move towards zeroes and ones, where once there were none?

Join a panel of experts spanning the traditional to the trendsetting innovators on March 15, 2017, at the Innovation Project 2017, on the campus of Harvard University, where an expert panel will discuss the pitfalls and challenges of a brave new world beyond deposits and passbooks.

And since the Innovation Project is off the record, the only way you’ll know what was discussed is to be there.

Don’t you want in on the conversation?  Check out Innovation Project 2017.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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