Will Disintermediation Turn FIs Into Utilities?
LAS VEGAS — Who owns the customer? The customer owns the customer, said Kausik Rajgopal, a McKinsey partner and a panelist at BAI Payments Connect 2012, the annual trade show that aims to bring together payments innovators with financial institutions.
Kausik ominously added, “Mobile is potentially a way to disintermediate financial institutions. From Amazon to Square, there is an intent to directly serve your customers.”