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banking Archives - CCG Catalyst Consulting Group

How banks avoid middleman death

By | CCG Insights, Retail in the Know | No Comments

The internet is killing middlemen because it offers a nearly frictionless and practically free way for two parties to connect without needing the middleman. The internet is making Retail banking less relevant for this reason, and because its open architecture has allowed vendors from anywhere to provide solutions to banks everywhere. The right response is for banks to up their customer engagement to a whole new level, to add value to their services that people will find worthwhile enough to use them, despite the ubiquity of financial services now available on the web.

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