Moving Towards Invisible Banking

Are Digital revolution & FinTech evolution jointly becoming the next David Copperfield?

When David Copperfield made the giant statue of Liberty disappear in front of a large audience, he created global sensation and made the world look at him with awe. Do we now have another David Copperfield? Well, yes! He has come back with a bang in multiple avatars of Digital and FinTech solutions in the financial services space. Instead of making the statue of Liberty disappear, this new young avatar of David Copperfield is steadily making banking invisible to us.

What are we talking about? We have heard about a dog wagging its tail. We are now hearing that the tail is wagging the dog! This new scenario of the tail wagging the dog is not really bad or uncommon. It is probably just a manifestation of an evolving new cure that initially appeared to look like the disease itself.  Digital channel revolution and FinTech evolution that started as being humble, modest and slavish tails of the main street banks are now steadily calling the shots with dominance over the main street banks by making banking extremely incidental in the scheme of multiple things that go towards customers’ lifestyle / life stage management. This new avatar of David Copperfield is making banking go beyond money and almost make banking invisible by forging partnerships that go beyond the realms of conventional financial services providers.

When banking becomes more and more incidental and invisible, the overall customer experience enrichment is bound to reach newer heights of glory. We are probably at the threshold of the ‘wow’ factor in customer experience becoming a ‘business-as usual’ reflection!