The banking revolution has begun

The digital wave is sweeping across the banking industry. New practices are driving far-reaching changes in users’ expectations and their links with the organizations managing their accounts.
Alongside this, a new generation of digital native employees will already have never experienced a “traditional” relationship with their bank, which seemed unlikely to change at all just a few years ago. Today, their main expectations are comfort, speed and transparency.

In a few points

Digital banking development

  • Bank accounts and the weather channel are in the top 3 applications checked every morning (in France).

  • One third of new bank accounts are opened with online banks.

  • The number of customers who use internet and mobiles for their banking operations has increased by 50% in one year.

  • Online banks have gained 14% in market shares in the past 3 years in France.

  • Today, 85% of customer/bank dealings are digital, 17% of customers go to their bank in comparison to 62% in 2007.

New technologies are transforming the world of banking

  • Blockchain technology made famous by Bitcoin emoney, is used to register and check real time transactions. By reducing the level of intermediaries Blockchain challenges current economic models and reduces operating costs.

  • Artificial intelligence understands and interprets natural language. In the banking sector, robot advisors, « chatbots » offer high-quality added value services and operational cost management.

  • Biometric technology is used to provide new methods for customers authentification. Customers can now sign in to a banking application using a digital fingerprint or make payments using voice or facial recognition.

New market Entrants


Three main fintech categories :

  • Lending Platform (funding platform)
  • Consumer Banking (everyday banking)
  • Payment (payment method)

Neo banks

Neo banks are based on a simplified mobile application and customer experience. Some have a banking licence and others do not. Many offer innovative mobile offers in Europe (UK, Germany, France).


Sector giants like Apple, Samsung and Google offer mobile payment solutions:
Apple Pay, Samsung Pay and Android Pay. They can now directly offer financial services through banking licence.

Regulations to boost mobile uses

  • In 2017, the PSD2 (European Payment Services Directive) will open the payment market to newcomers. This will increase industry competition and reduce consumer payment method access costs.

  • The European directive also aims to implement instant payment before end 2017. This is an electronic payment solution which is available at any given moment. This directive translates as a new revolution for the mobile payment sector

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