What Will be the Bank of the Future? 2016 View Vs. Now

Every year since 2014, someone or the other has asked us the same (or similar) question: what is the bank of the future? This is probably because we engage with the finserv and FinTech community all over the world on an ongoing basis. The people who pose this question are sometimes our banking/tech customers or someone from our FinTech blog audience. We try to answer this question responsibly and inasmuch fact-based fashion as we can. Addressing this very question, in 2016, we had said that banks would become the following (see below) for the financial services ecosystem in the future. We presented a view that the bank of the future will look like a modular construction housing array of FinTech startups where each player services a specific banking requirement.

If we look at the developments over the last three years, the ecosystem has started to shape up in the above fashion a little bit. FinTechs today represent 3–5% of the financial services market by revenue, size and in a few segments, FinTechs are amongst the leading players in their respective markets. And now, with a clearer picture, we present a more nuanced version of the same infographic, with the concept being the same.

Let’s start examining this image from the top, starting with B2B FinTech, which acts as an engine for the digital transformation of ba ...

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