As emerging digital finance platforms launch new and differentiated products, including bespoke, consumer-centric solutions and experiences, they are building scale more efficiently and quickly than ever before, according to Brandon Watkins of the Goldman Sachs Investment Banking Division. In a new installment of our videos series, The Long & Short of It, Watkins explains how the âbank of the futureâ is being shaped by three trends â a shift from offline to online banking, growing consumer trust for digital-first platforms and consumersâ desire for personalization and tailored product experiences. âYouâre seeing these new digital finance platforms⌠starting to compete with some of the biggest traditional banks in the world,â he says, while in turn, some of the traditional financial institutions are turning to âtechnology platforms to add to the product capabilities and experiences that theyâre delivering to their customers today.â
The Bank of the Future
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