“As recently as the early 2000s, you would go to a retail bank and they would try to cross-sell you all of their different products, and many of those were not price competitive,” says Tom Blomfield, cofounder and CEO of digital bank Monzo, founded in 2015. “And so, over the past ten or 15 years, we’ve seen a wave of disaggregation—new fintech competitors providing point solutions, single products with great customer service and pricing.”
By 2030, however, Mr Blomfield foresees a shift back towards reaggregation in the sector. “Instead of having to maintain 15 or 20 different apps or logins, you’ll have a single aggregating financial app that then pulls in all of these different products and services under third-party brands,” he says.
Read the full article on The Economist