They have a business model that is digital to the core.
Put simply you cannot plaster a digital core over an incumbent bank.
A full digital core:
- Enables them to innovate quickly
- Offer a wide range of downloadable Apps
- Onboard customers in a matter of minutes
- Provide a wide range of tools that enable the customer to make the best financial decisions
- Partner with innovative technology companies to speed up their time to market
- Accumulate substantial amounts of data about their customers enabling them to target applications and service to grow their customer bases quickly