Few industries have experienced digital disruption as financial services have. In recent years, established banks have had their lunch served to them by smaller, more nimble start-ups such as Mint.com and Bankrate.com, which rely on digital to provide services such as money management. But the big brands can win by disrupting themselves, according to Forrester Research Vice President Catherine Graeber, who spoke November 5 at the 2013 Forrester Research eBusiness & Channel Forum, a marketing event whose theme is “Lead the Digital Business Revolution.”
“Gone are the days when all you had to worry about was the competitor down the street,” she said to attendees such as State Farm and USAA. “We have digital disruptors coming at us from other industries. To build the next generation of financial services, you must digitally disrupt yourselves.”