ANZ's digital czar Maile Carnegie says the tech giants are coming for the banks, and they have the perfect customer formula to take them on.
The Australian bank's head of digital banking Maile Carnegie says the biggest growth in competition in the banking sector over the next decade will come from outside the traditional players, she said on the ANZ Way podcast series.
The tech star expects to see global behemoths like Amazon, Alibaba, Google and Facebook all looking to grab a slice of the banking pie.
Customer Focus
Carnegie, who was recently in Singapore for the fintech festival, knows a thing or two about the big tech players having joined ANZ from Google in late 2016, where she had been ran Australia and New Zealand for the last four years.
Carnegie sees the large tech firms entering the financial sector using their enormous data resources to identify customer pain points, then solving those issues with fine-tuned financial products. She points out that this may happen sooner than later, as there are ructions in the U.S. from Amazon's request for proposal, or RFP, for banking services.
«You’re seeing these large tech companies wanting to move into financial services,» she said. «One of the reasons I’m so obsessive about us needing to focus on the customer is because that is the formula that is going to allow those tech companies to win.»
