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.
Without a concrete plan, a $20 billion revenue opportunity could float by. By focusing on the right priorities — supported by both internal investments and outside partnerships — banks can set themselves up to take advantage of an emerging trend that will deliver significant returns
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Click here to learn about PwC’s latest white paper “Dialing up a Storm: How Mobile Payments Will Create the Most Significant Revenue Opportunities of the Decade for Financial Institutions.”
Femi Odunuga
Director – Financial Services, PwC
Femi Odunuga is a Director in PwC’s Financial Services practice with a focus on the Payments industry. He leads the PwC mobile payments working group and is a subject matter specialist in the areas of mobile, eCommerce, alternative payments and emerging markets. He has extensive experience in financial services and management consulting in North America and EMEA regions. Femi has advised various clients on enterprise digital enablement — delivering end-to-end projects from business design and strategy to market delivery and execution.
Prior to PwC, Femi was vice president, payment products portfolio manager for a Fortune 100 consumer bank. He also worked in Accenture’s Strategy and Business Architecture practice and with MTN – Africa’s leading mobile network operator. Femi is an alumni of Emory University and is based in New York.
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