Is there a future for banks in payments? Perspectives from industry shapers
As digital technology becomes embedded into the daily life of customers, payments are set to follow suit. Customers will win through a step-change in convenience and new services enabled by digital technology, advanced data and analytics. But as payments become invisible, bank margins erode and the PSD2 opens the door to entrants, banks stand to lose their main interaction point with the customer. What will be the role of banks in this new era of payments? Who will lead convergence in an increasingly scattered landscape? Who will control the customerinterface and the access point to customer data? Is a win-win for consumers and banks still possible?