With digital alternatives taking over, age-old banking models are no longer in the driving seat. Monolithic and vertically integrated banking value chains are giving way to microservices and products. Globally, banking giants are repackaging their products with shared components to provide end-to-end customer experiences.

In this scenario, digital-only players are adapting non-linear, purpose-centric strategies to scale their operations. They are looking for more innovative and future-ready products that can be acquired and shared with customers at low costs.