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Published byLaurel Fleming Modified over 8 years ago
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The Demise of the Branch or why not the end of banking as we know it
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Look for buy/sell indicators 2 Technology Leap = Rise and Fall of Corporate Giants 1992: Microsoft’s Graphical User Interface of Windows 3.1 OS 1997: Google’s radical approach to Internet search algorithms 2004: Facebook’s approach to social networking 2016: Do you remember them?
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How technology is affecting industries? 3 ‘90s Buy in record shop '00s Order CD online Download online '11 - 16 Use streaming services like Spotify, SoundCloud, Apple Music, etc. Transformation of the music industry
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How technology is affecting industries? 4 ‘90s Use booking agency '00s Online booking Vacation home sharing '11 - 16 Instant booking through app Accommodation sharing services like Air BNB Transformation of the hotel/accommodation industry
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What exactly happened? 5 BeforeNow OfflineOnline High transaction costFree with options for paid upgrades Wait for deliveryInstant access to digital content Planning in advanceLast-minute deals One supplierHubs aggregating offers from many suppliers
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What about banks? 6 Banks are still not severely affected because of the protective legislation and the overregulated market, however there are early indicators: Fast consumer lending by non-banking financial institutions Payment services like PayPal, Stripe, Square, etc.
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The Branch mapping to tech 7 NowStatus Online Free with options for paid upgrades Instant access to digital content Last-minute dealsPlausible Hub aggregating offers from many suppliers
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How to adapt? 8
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Contacts Svetoslav Moldovansky COO, Member of MB Fibank M: 00359886101023 E: smoldovansky@fibank.bgsmoldovansky@fibank.bg 9
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