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The next digital inflection point for US banks

Author

Listed:
  • Carter, Michael

    (Finalytics.ai, USA)

Abstract

This paper explores the effect of technology on the American banking landscape in the 21st century. The number of US banks and bank branches has been consistently decreasing in this century, partly owing to technological advances. Existing legacy delivery channels, however, have slowed the rate at which banks in the United States have adopted and deployed the technology available to them. This slower rate of innovation by US banks has resulted in a level of consumer dissatisfaction that has created opportunities in the banking sector for FinTechs and Big Techs, especially since 2009.

Suggested Citation

  • Carter, Michael, 2023. "The next digital inflection point for US banks," Journal of Digital Banking, Henry Stewart Publications, vol. 8(2), pages 168-175, September.
    • Handle: RePEc:aza:jdb000:y:2023:v:8:i:2:p:168-175
    as

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    More about this item

    Keywords

    engaged banking; hyper-personalisation; AI; journey orchestration; datadriven digital; banks;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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