Technological advances over the last couple of decades have already fuelled significant and permanent changes to how businesses in certain sectors operate. Good examples of this are provided by the retail and travel sectors. Physical shops are under pressure from the likes of Amazon as increasing numbers of customers are choosing to make their purchases online, while travel agents are fast disappearing from our high streets as more and more customers prefer to carry out holiday searches and make bookings from the comfort of their own homes. The finance industry has yet to go through this phase of its development and typically still has many structural and operating inefficiencies, which can lead to a poor, and costly, customer experience. For example, opening a new bank account or getting a consumer loan with a traditional bank can be a cumbersome process, while overseeing your investment portfolio can be expensive and time-consuming if you have to visit your financial advisor several times a year.
15 Jun 2018
First mover in listed fintech
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First mover in listed fintech
Augmentum Fintech PLC (AUGM:LON) | 0 0 (-1.1%) | Mkt Cap: 161.4m
- Published:
15 Jun 2018 -
Author:
Martin McCubbin -
Pages:
29
Technological advances over the last couple of decades have already fuelled significant and permanent changes to how businesses in certain sectors operate. Good examples of this are provided by the retail and travel sectors. Physical shops are under pressure from the likes of Amazon as increasing numbers of customers are choosing to make their purchases online, while travel agents are fast disappearing from our high streets as more and more customers prefer to carry out holiday searches and make bookings from the comfort of their own homes. The finance industry has yet to go through this phase of its development and typically still has many structural and operating inefficiencies, which can lead to a poor, and costly, customer experience. For example, opening a new bank account or getting a consumer loan with a traditional bank can be a cumbersome process, while overseeing your investment portfolio can be expensive and time-consuming if you have to visit your financial advisor several times a year.