Evolve or be extinct

Covid-19 has triggered large-scale digital disruption for industries globally. Retail banking is no exception.

A report by Financial Times Focus in partnership with Mambu explores what banks need to build stronger, more competitive and socially sustainable organisations for the future.

Banking revolution in real time

The social and economic impact of Covid-19 has changed customer behaviour and has made the digitisation of banking a profit-driven priority. Steady digital transformation has turned into an immediate business concern that is threatening to upend traditional banks. Transformation is now business critical, and the new survey by FT Focus reflect this shift.

Among the respondents one group of digitally advanced companies is bucking the trend. These ‘evolvers’ are taking an innovative approach to implementing a digital strategy and transforming their business processes, and their shared features may help those who want to catch up but are not sure where to start.

67%

of senior bank executives believe they will lose market share within 2 years if they don’t digitise.

58%

of all respondents think their banks will cease to exist in the next 5 to 10 years if they don’t change their business model.

The Banking Revolution, 20 Sept 2022, Virtual

The Banking Revolution, our award-winning event with The Financial Times, is back for its second edition. Hear from global innovators, policy makers, thought leaders, and senior executives from the banking and financial ecosystem as they tackle the challenge of redefining banking to ensure that it works for all. Register now for your free pass.

Time to act

Competition is growing, and while many banks have been complacent and lag behind on their digitisation strategies, nimble evolvers are quickly increasing their market share.

As a true SaaS banking platform Mambu is uniquely positioned to activate your digital transformation strategy and help you thrive into the future. If you can dream it, we can help you build it.