The Economist Intelligence Unit recently surveyed 203 senior retail banking executives and found that the digital revolution has moved from an existential threat to a potential survival strategy for the world’s retail banks. This third annual study, in partnership with Temenos, was designed to understand the pace and extent of the financial technology revolution on global banking. Anthemis founder and CEO Nadeem Shaikh remarked in the report that “the payments battle is over” in the retail banking space. He also noted, “wealth managers and private banks have woken up to the fact that customers are no longer willing to pay the margin”.
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