Intel Report Digital Banking - Flipbook - Page 21
“If you don’t solve a particular pain point extremely well,
it’s hard to acquire customers at a low cost.”
Arvind Purushotham, managing director and global head of venture investing at Citi Ventures
Conclusion
Although there are some similarities between building a traditional bank and digital bank, the
economics of banking have changed substantially where digital banks can achieve what wasn’t
possible years ago. Cloud-native architecture, a niche focus and superior products and services
can drive efficiency and high profitability. The key is to think like a brand: Put customers first
and deliver highly personalized digital banking solutions and experiences.
*Bank Director Data Researcher Pete Dawkins contributed to this report. Special thanks to
Bank Director Vice President of Research Emily McCormick and Ron Shevlin of Cornerstone
Advisors, as well as S&P Global Market Intelligence, Citi Ventures, OakNorth Bank, Studio
Bank, Green Dot Corp., Unconventional Ventures and Current for their participation.
DIGITAL BANKS: PROFITS AND PURPOSE | 19