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The FinTech Threat is Real

According to our latest banking research report, “Don’t Fear Modernizing Your Core,” customer loyalty is seeing an all-time low for financial institutions as nearly 28 million households are ready to move to a more innovative bank. Download the latest research report from NTT DATA Consulting via http://americas.nttdata.com/Services/Services/Consulting/research.aspx.

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The FinTech Threat is Real

  1. 1. #FINTECHTHREAT | @NTTDCONSULTING PETER OLYNICK, SENIOR PRACTICE LEAD, RETAIL BANKING, NTT DATA CONSULTING, INC. “Banks will lose customers and revenues because they can’t adapt to today’s changing market” of banks see FinTech as a threat The FinTech Threat is Real 64% of consumers already have an account with a FinTech provider 46% CAN BANKS REACT TO RISING EXPECTATIONS? © 2016 NTT DATA, Inc.SOURCE: “Don’t Fear Modernizing Your Core,” NTT DATA Consulting, Inc. of consumers said innovative offerings from FinTechs “is how banking should be” 70%of bankers do not feel their process can quickly adapt to change BANK CONSUMERVS. 28 million households are ready to move to a more innovative bank of banks expect to start a modernization effort in the next three years CONSUMERS ARE READY TO MAKE THE CHANGE. consumers would strongly consider switching primary banks for better online and mobile technolgy 1out of 3 Only 15% 22%

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