Digital Sustainability in the Banking and Finance Sector

Abstract

Banking products become more complex in last 20–25 year. Banks created high profits by managing this complexity with their high-end technology. After expansion of smart-phones and fast mobile internet connection banks are no longer deciding for the infrastructure to serve. Now it is the customer using the latest technology and demanding more personalize fast and almost free services from financial intuitions. Fin-Techs which are using the digital platform to give the customers a more personalized and cheaper service at least in one field of customers financial needs. And their tactic is being definitely better than the banks in solving the hustles of the customers one field. Banks and financial institutions must find a way to survive and support the society in future. Targeting unbanked and underbanked, supporting sharing economy and using the big data would be the main part of their strategy in future.