DISRUPTION AND RENEWAL:
THE BANKING LANDSCAPE
By Chris Skinner, Financial Services Club
W
e all know that the internet has changed things.
How much can be seen by just looking at how
addicted we are to our smartphones and apps
today. These are driven by the internet and, in 2014, we
are starting to see the appearance of the internet of things
where everything, everywhere is connected in real-time,
all the time. This is emerging with the launch of smart
watches and wifi glasses, but it goes far wider and deeper
than these gadgets as cars, houses, streets and buildings are
all becoming internet-enabled.
What we realise with these developments however is
that we are at the equivalent of the car industry in the last
century. Automobiles were appearing at the end of the 19th
century and, by the second decade of the 20th century, had
moved mainstream thanks to the Model T Ford. Look at how
the automotive industry has evolved a century later, and you
get an idea of