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FintechJanuary 2 2000

Online surge blasts banks

The battle lines have been drawn between the incumbents and the new dot.com entrants. Stephen Timewell and Kung Young look at how the two sides are shaping up.
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What will the financial services industry look like in 2003? What impact will the Internet have? No one can be sure but it is abundantly clear that radically new business models will be driving the networked economy.

To succeed, firms will need to evaluate innovative strategies that capitalise on both the power of the Internet and the changes in consumer demands. The new millennium represents a massive turning point where the dynamics of markets are changing and the consumer is seizing real power through the technology now available.

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