New10
Dutch banking giant ABN AMRO launches a fintech to better serve SMEs.
Netherlands
The case for launching a speedboat
Digital technology is changing financial services. It has led to fast, seamless, mobile-first solutions and introduced a wave of new entrants. While this has many benefits for customers, it’s a reminder to established banks and lenders that they must find innovative ways to keep up.
How incumbents can take on fintech challengers
A well-executed speedboat, often customer-centric or targeting a niche segment, can be quickly scaled up according to need. Banks can leverage their existing resources to introduce a cloud-native digital spinoff, which enables faster time-to-market for the launching of new products and market expansion.
By accessing the very technology used by new entrants, incumbent players can focus on delivering innovative customer experiences and product mix with less resources spent on maintenance and operation inefficiencies - resulting in lower operating costs and attractive returns for shareholders.
Speedboat: An independent, cost effective, agile and lean digital banking spinoff that operates like a fintech.
So launching digital financial speedboats is an attractive option for large organisations, even more so in turbulent times. But how do you build a winning value proposition for your speedboat? How have other players done it?
We have identified a four-step approach to define a winning value proposition.
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