88% of the UK’s current market is dominated by the six largest providers, however that doesn’t mean they are safe. 78% would be willing to bank with non-traditional providers, such as tech firms Amazon or Google.

Digital has already revolutionised how customers view the financial sector and with new regulations such as the rollout of Open Banking API (Application Programming Interface) presenting fresh challenges, banks risk losing customers to non-bank competitors. 73% of millennials said they would share transactional and banking data for incentive.

Adding to the challenges, the shift in customer behaviour and growing customer fluidity already present in millennials means that if a bank is unwilling, or indeed unable, to adopt digitally based services will present further challenges to the finance and banking industry.

In this white paper we discuss how finance and banking companies can adapt their digital developments set to shape the industry over the next 12 months.

Essential reading for all business owners, digital marketing managers and personnel, get ahead of the competition and download our Finance & Banking white paper by filling out the form below