Gartner Research

Market Insight: Banking and Securities Industry Playbook — Six Steps TSPs Must Take Now to Address Fintech

Published: 24 May 2016

ID: G00307781

Analyst(s): Rajesh Kandaswamy

Summary

Fintech can be a black swan event in banking and securities, threatening technology and service providers, along with their clients. Scant attention of TSPs makes them defenseless, while missing opportunities. TSPs' business unit leaders should take these six steps now and adjust their strategies.

Table Of Contents

Analysis

Background and Context

  • Industry Increases Bimodal Responses While Responding to Fintech
  • TSPs Are Not Keeping Up With Their Clients in Dealing With Fintech

The Impact

  • Impact to Segmentation Strategy
    • Step 1: Determine the Extent of Fintech Activity Relevant to Your Segments
    • Step 2: Understand the Defensive and Offensive Responses of Companies
    • Step 3: Adjust Your Segmentation Strategy
  • Impact to Product Strategy
    • Step 4: Determine the Relevance of Your Product in the Value Chain of the Challengers
    • Step 5: Identify Differences in Customer Needs and Consumption Patterns
  • Step 6: Adjust Your Product Strategy

Conclusion

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