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      "text": "The accelerating pace of the innovation cycle in financial services means that an incumbent financial institution's success is predicated on business model agility and the ability to rapidly deploy partnerships, neither of which are traditional core competencies of these institutions.",
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      "text": "The rise of Fintechs provides financial institutions with a \"supermarket\" for capabilities, allowing them to use acquisitions and partnerships to rapidly deploy new offerings.",
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      "text": "The ability to shop the Fintech landscape for capabilities is not limited to incumbents; new entrants face significantly lower technological barriers to entering financial services, with potential long-term implications for the competitive landscape. Fintechs that offer unique consumer convenience and marketplace entry have paved the way for further future disruption.",
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      "text": "The rapid growth of the Fintech ecosystem allows firms to externalize parts of their innovation function, as they wait and see which new offerings gain traction before deploying their own solutions.",
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      "text": "Some financial institutions have turned the threat of Fintechs into an opportunity...",
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      "text": "Santander\n\nSantander is one of the market leading retail banks that leapt onto the disruptive fintech wagon. Apart from their 100% online bank, Santander Openbank, based in Madrid, the banking giant has also made significant steps into cryptocurrency, through OnePay FX, a blockchain-based international system available for their customers, used to send and receive transfers between individuals in different countries.",
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      "text": "Where Fintechs have laid the foundation for further future disruption",
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      "text": "Adyen\n\nCurrently with a market cap of c.€50bn, Adyen is a global payment company and one of the top European Fintechs. Adyen's all-in-one platform accepts payments everywhere and offers a seamless experience for business and customers. Previously, the payments industry had multiple incumbents and intermediaries, which Adyen has already disrupted, due to its transparency, ease of adaption and marketplace agility to transform to new and upcoming business models.",
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      "text": "Source: Deloitte, Beyond Fintech - A pragmatic assessment of disruptive potential in financial services © 2020 Deloitte The Netherlands",
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