In this environment, staying flexible while avoiding being overwhelmed by legacy issues will be crucial to survival. We are already seeing new strategies by some banks to transform their businesses and carve out a share of the new market:
Relying on in-house asset management arms to fund loan requirements of banking customers
Partnering with peer-to-peer lending sites
Providing white-label services to retailers-as-banks
Sharing infrastructure between banks to improve efficiency in rapid-growth markets
Developing stronger cybersecurity through cooperation between banks