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Bank vs. Tech
How banks can defeat their
new competitors
David K. Donovan
Cultivate a:
Digital Ecosystem
•Incorporate technology into the core of
the company’s structure.
•Take a hint from interne...
Regain the :
Trust
•Invest significant capital into internal
data and security systems and
processes
•Prove the bank’s comm...
Understand Your :
Data
•Today’s banks act are repositories for
vast amounts of customer data.
•Take time to strategize abo...
Implement :
Transparency
•Rebuild trust through transparency
•Be transparent about customer data
usage
•Avoid lengthy term...
Learn More
•davidkdonovan.org
•davidkdonovanfinance.com
•davidkdonovan.info
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Bank vs. Tech: How Banks can Defeat their Tech competitors

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David K Donovan describes approaches banks should take to defeat their tech-based competitors

Publicado en: Economía y finanzas
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Bank vs. Tech: How Banks can Defeat their Tech competitors

  1. 1. Bank vs. Tech How banks can defeat their new competitors David K. Donovan
  2. 2. Cultivate a: Digital Ecosystem •Incorporate technology into the core of the company’s structure. •Take a hint from internet companies: force your clients into your value chain. •Create a fully comprehensive set of services, platforms and information, to ensure that their clients are spending as much time on your properties as possible.
  3. 3. Regain the : Trust •Invest significant capital into internal data and security systems and processes •Prove the bank’s commitment to the security of the client.
  4. 4. Understand Your : Data •Today’s banks act are repositories for vast amounts of customer data. •Take time to strategize about what information would be most beneficial to analyze •Consider and invest in the best tools to accomplish this
  5. 5. Implement : Transparency •Rebuild trust through transparency •Be transparent about customer data usage •Avoid lengthy terms and conditions, be clear about how the bank is using, accessing and aggregating client information •Explain the algorithms that the bank utilizes
  6. 6. Learn More •davidkdonovan.org •davidkdonovanfinance.com •davidkdonovan.info

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