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  "documentTitle": "Blurred lines FinTech 2016",
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  "notes": "The diagram illustrates the central role of Financial Institutions (FIs) within a complex ecosystem of various stakeholders and technologies.",
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      "text": "For many traditional financial institutions, this approach will require a fundamental shift in identity and purpose.",
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      "text": "Information on FinTech is somewhat dispersed and obscure, which can make synthesising the data challenging. It is therefore critical to filter the noise around FinTech and focus on the most relevant trends, technologies and start-ups. To help industry players navigate the glut of material, we based our findings on DeNovo insights and the views of survey participants, highlighting key trends that will enhance customer experience, self-directed services, sophisticated data analytics and cyber security.",
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      "text": "Disruption of the FS industry is happening and FinTech is the driver. It reshapes the way companies and consumers engage by altering how, when and where FS and products are provided. Success is driven by the ability to improve customer experience and meet changing customer needs.",
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      "text": "By focusing on incorporating new technologies into their own architecture, traditional financial institutions can prepare themselves to play a central role in the new FS world in which they will operate at the centre of customer activity and maintain strong positions even as innovations alter the marketplace. FIs should make the most of their position of trust with customers, brand recognition, access to data and knowledge of the regulatory environment to compete. FS players might not recognise the financial industry in the future, but they will be in the centre of it.",
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      "text": "The main impact of FinTech will be the surge of new FS business models, which will create challenges for both regulators and market players. FS firms should turn away from trying to control all parts of their value chain and customer experience through traditional business models, and instead move toward the centre of the FinTech ecosystem by leveraging their trusted relationships with customers and their extensive access to client data.",
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      "text": "In response to this rapidly changing environment, incumbent financial institutions have approached FinTech in various ways, such as through joint partnerships or start-up programmes. But whatever strategy an organisation pursues, it cannot afford to ignore FinTech.",
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      "text": "For many traditional financial institutions, this approach will require a fundamental shift in identity and purpose. The new norm will involve turning away from a linear product push approach, to a customer-centric model in which FS providers are facilitators of a service that enables clients to acquire advice and interact with all relevant actors through multiple channels.",
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