However, retooling existing businesses for digital efficiency will not in itself create shareholder value. Competitive pressure will mean that most cost savings are ultimately passed on to customers. Digitizing incumbents’ existing businesses, if done well, will preserve shareholder value, but not increase it.
In Section 3 of our State of the Financial Services Industry 2017 report, we discuss why we believe financial services incumbents must choose an archetype and how to move to the future.
Exhibit 7. TOP 50 FINTECH FIRMS BY DOMINANT ARCHETYPE.

Exhibit 8. BUILDING CAPABILITIES WITH SYSTEMATIC DISCIPLINE
