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The Digital Banking Revolution
How Financial Technology Companies Are Rapidly Transforming Retail Banking
by Luigi Wewege

Overview


How financial technology companies are rapidly transforming the traditional retail banking industry through disruptive innovation.
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Description


Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
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About the author


Luigi Wewege is the Chief Executive Officer of Vivier & Co, a boutique financial services firm offering a complete banking package to its clients worldwide. Other roles include being an Instructor at the first online FinTech School, serving as the Principal of Palmetto Global Ventures a bespoke financial management consultancy, and is an invited member of the Young Entrepreneur Council considered one of America’s most successful communities for business professionals. Luigi is also the published author of: The Digital Banking Revolution which is available in audio, kindle and paperback formats throughout all major online bookstores in over fifty countries.

Previously he was the Commercial Manager of  publicly listed Investment Research Group, a financial advisory company where he led their media division, and was a Senior Consultant at The Braintrust Network (merged with CMEA) which was a unique content-driven consulting service. Notably, while Luigi was completing his undergraduate degree he executed a pilot study for the Federal Trade Commission during one of the most serious financial times for the American economy. The focus of the study was to examine and determine the accuracy of credit bureau information, with the research ultimately providing the impetus for a report which was presented before the United States Congress under Section 319 of the Fair and Accurate Credit Transactions Act. 

Luigi holds a Master of Business Administration with a major in international business from the MIB School of Management. He also holds a Bachelor of Science in Business Administration with a triple major in finance, international business and management - cum laude from the University of Missouri - St. Louis. Whilst at university Luigi was a multiple recipient of the Dean’s list, Coaches and Athletic Director honor rolls, as well as being a recipient of the Great Lakes Valley Conference Academic All-Conference honors. Other academic achievements include being formally inducted into the Financial Management Association - National Honor Society, and the Epsilon Eta Pi - International Business Honor Society. Recently, he was the honored recipient of the Salute to Business Achievement Award which recognizes outstanding business alumni.

One of Luigi’s passions is to create development opportunities that empower young people    to create positive change, and this led to him starting his own Foundation which provides an annual academic scholarship to a deserving American student. Previously he served as a Director and Trustee of Doing Good Fellows. This pioneering non-profit uses technology to facilitate an ecosystem where accomplished professionals use their skills, and networks to deliver global social impact. Luigi was also the past President of Junior Chamber International (JCI) - Metro, which is the only worldwide non-political and non-sectarian youth service organization. The primary focus of his presidency was to create fundraising initiatives to assist JCI’s partnership with the United Nations FoundationNothing But Nets campaign. This to prevent malaria deaths by purchasing, distributing, and teaching the proper use of mosquito bed nets throughout Southern Africa. 

Outside of work Luigi enjoys participating in a variety of sports, and has competed in several at a high level. Select athletic achievements for him include: being a former national junior champion in swimming, and a National Collegiate Athletic Association golfer on university scholarship. For more information, please visit his personal website: www.luigiwewege.com.

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Book details

Genre:BUSINESS & ECONOMICS

Subgenre:Banks & Banking

Language:English

Pages:164

eBook ISBN:9781483592510


Overview


How financial technology companies are rapidly transforming the traditional retail banking industry through disruptive innovation.

Read more

Description


Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.

Read more

About the author


Luigi Wewege is the Chief Executive Officer of Vivier & Co, a boutique financial services firm offering a complete banking package to its clients worldwide. Other roles include being an Instructor at the first online FinTech School, serving as the Principal of Palmetto Global Ventures a bespoke financial management consultancy, and is an invited member of the Young Entrepreneur Council considered one of America’s most successful communities for business professionals. Luigi is also the published author of: The Digital Banking Revolution which is available in audio, kindle and paperback formats throughout all major online bookstores in over fifty countries.

Previously he was the Commercial Manager of  publicly listed Investment Research Group, a financial advisory company where he led their media division, and was a Senior Consultant at The Braintrust Network (merged with CMEA) which was a unique content-driven consulting service. Notably, while Luigi was completing his undergraduate degree he executed a pilot study for the Federal Trade Commission during one of the most serious financial times for the American economy. The focus of the study was to examine and determine the accuracy of credit bureau information, with the research ultimately providing the impetus for a report which was presented before the United States Congress under Section 319 of the Fair and Accurate Credit Transactions Act. 

Luigi holds a Master of Business Administration with a major in international business from the MIB School of Management. He also holds a Bachelor of Science in Business Administration with a triple major in finance, international business and management - cum laude from the University of Missouri - St. Louis. Whilst at university Luigi was a multiple recipient of the Dean’s list, Coaches and Athletic Director honor rolls, as well as being a recipient of the Great Lakes Valley Conference Academic All-Conference honors. Other academic achievements include being formally inducted into the Financial Management Association - National Honor Society, and the Epsilon Eta Pi - International Business Honor Society. Recently, he was the honored recipient of the Salute to Business Achievement Award which recognizes outstanding business alumni.

One of Luigi’s passions is to create development opportunities that empower young people    to create positive change, and this led to him starting his own Foundation which provides an annual academic scholarship to a deserving American student. Previously he served as a Director and Trustee of Doing Good Fellows. This pioneering non-profit uses technology to facilitate an ecosystem where accomplished professionals use their skills, and networks to deliver global social impact. Luigi was also the past President of Junior Chamber International (JCI) - Metro, which is the only worldwide non-political and non-sectarian youth service organization. The primary focus of his presidency was to create fundraising initiatives to assist JCI’s partnership with the United Nations FoundationNothing But Nets campaign. This to prevent malaria deaths by purchasing, distributing, and teaching the proper use of mosquito bed nets throughout Southern Africa. 

Outside of work Luigi enjoys participating in a variety of sports, and has competed in several at a high level. Select athletic achievements for him include: being a former national junior champion in swimming, and a National Collegiate Athletic Association golfer on university scholarship. For more information, please visit his personal website: www.luigiwewege.com.

Read more