Banking on the future
Leading upto 2020, radically transformed bank models will emerge. A glimpse ahead shows an emphasis on innovative technologies to vastly facilitate banking–inclusive banking through new types of bank models, non-traditional alliances to make banking affordable, and fintech capabilities to make banking customer-centric.
Banking in the future will be collaborative, exciting and will raise the bar in setting new standards. Consolidation in the industry is therefore, inevitable.
The Deloitte India's point of view following on from here, touches upon the growth route of mergers & acquisitions, a banking model in the form of payment banks and innovation in banking that is technology oriented–cognitive technology and artificial intelligence, block chain technology, robotics process automation, fintech, and of course, cyber security.