Banks often lead in channel digitisation and payments, insurers lag in claims automation, and wealth managers lag in digital onboarding and suitability workflows. Fintechs lead in product agility but lack enterprise-scale risk controls.
Channel impact distinctions:
Direct Digital: Fastest maturity in banking & fintech.
Advisor/Broker: Slower due to compliance and complexity (insurance & wealth).
Branch/Call Center: Branch/Call Center: Transitional hybrid in banking; marginal in fintech.