The next digital inflection point for US banks

Michael Carter
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Michael Carter: Finalytics.ai, USA

Journal of Digital Banking, 2023, vol. 8, issue 2, 168-175

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.

Keywords: engaged banking; hyper-personalisation; AI; journey orchestration; datadriven digital; banks (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2023:v:8:i:2:p:168-175

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