"The Aspiration Is Much Bigger:" Inside Walmart's Fintech Foray

Traditional brick and mortar banking business models could be heading to join the ranks of infamous business models such as Blockbuster Video and Kodak.  With fintechs coupled with the Walmartization and Amazonization of our daily lives will continue to threaten traditional business models.  Businesses, including banks, will need to ensure their Board of Directors have a focus of continually innovating to disrupt their own business models and strategies before someone else causes the disruption, potentially impairing the viability of the business.  What strategies are other financial institutions embracing to alter your Bank's strategic business model to ensure future survival?

Ignoring the reality of disruption's broad and rapid impact to legacy business models should not be an option.  For organizations to survive, they will need to quickly embrace change, continually challenging business models that have provided them with historical success.  Business models of historical success do not guarantee future survival.

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Matt Johnson
CFO
Premier Bank
Omaha, NE
Posts reflect my personal opinion and do not represent any organization in which I am affiliated.
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Original Message:
Sent: 05-11-2021 14:40
From: Barb Rehm
Subject: "The Aspiration Is Much Bigger:" Inside Walmart's Fintech Foray

The latest episode of Banking with Interest is out now. Ron Shevlin, Managing Director of fintech research at Cornerstone Advisors and a senior contributor for Forbes, predicts what's behind Walmart's formation of a fintech. He also discusses why many banks are further behind on digital transformation than they think and how they can better improve their customers' financial health.

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Barb Rehm
Senior Managing Director
IntraFi Network
Arlington VA
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