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Banks Don’t Have To Innovate
Article

Banks Don’t Have To Innovate

Ron Shevlin
Forbes, 2020
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Recommendation

Banks have long innovated, but how do they stay relevant in the current environment? Should they innovate, or align with those that do? Moving fast and breaking things are not part of traditional financial institutions’ genetic make-up, yet advancing technology compels action. In this practical article, financial journalist Ron Shevlin advises banks and credit unions to be observant and nimble, wise to the challenges to their businesses, and ready to acquire and implement the right solutions – a process more complex than it sounds.

Take-Aways

  • Banks are not typically disruptive, nor do they need to be.
  • Financial institutions should better define what they want to achieve.
  • Collaborating rather than competing with fintech innovators can be a way to succeed.

About the Author

Ron Shevlin is a senior contributor at Forbes.

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