Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
Luigi Wewege is the Chief Executive Officer of Vivier & Co a boutique financial services firm offering private digital banking solutions to its clients worldwide. Outside of Vivier he serves as the Non-executive Chairman of Nikau Global an international trade development company, as a Partner/Director of Palmetto Global Ventures a bespoke financial management consultancy based in South Carolina, and is an invited member of Massachusetts non-profit The YEC. For more information about Luigi, please visit his personal website: www.luigiwewege.com.
The Digital Banking Revolution is available in audio, kindle and paperback formats here: www.amazon.com/Digital-Banking-Revolution-transforming-traditional-ebook, as well being offered through all major online bookstores in over fifty countries.