In the digital age, platforms that provide banking solutions and services have become more important than the banks themselves. As platforms have direct access to customers, they control most of the profits from transactions. Just as Booking.com controls the hotel industry, some non-banking companies are now providing banking services through easy-to-use platforms and interfaces, relegating banks to a secondary role for less profitable activities by losing control over the customer relationship.

1. In this digital age, we buy solutions on platforms. The platform tends to become
more important than the industry itself. In this game, the one who controls the
platform has direct access to clients, hence controls a large part of the profit
generated by transactions. Booking.com did that for the hotel industry. Let’s have a
look at banks…
The client needs banking
(services and solutions) but most
of the times, doesn’t need a bank!
Money
transfers
Cash
withdrawals
Credit/Debit
cards
…
The bank founds itself,
behind the solutions
provider (platform) for
big and heavily
regulated operations
(like loans)
Some players are no bankers but
know how to provide solutions on
simple and easy-to-access interfaces:
GAFA of course but also Orange.
Key word is « behind »: banks
become second rank providers. They
are relegated to less profitable
activities when losing control of
interface with clients…
Client
Solutions provider:
platform
Services and products
provider: banks