Disruptive companies taking down well-established incumbents

Disruptive companies taking down well-established incumbents

In many industries there are examples of disruptive companies taking down well-established incumbents – Amazon and Netflix are two disruptive companies who took down very successful incumbents in their industry – Borders and Blockbuster.

The speed of adoption of new technologies is increasing

But the disruption is not going to stop here – the speed of adoption of new technologies is increasing. The phases of the internet evolution – from communication to social media and the new shared economy:

Shared economy - internet evolution

Transforming the banking system

How is seems that peer-to-peer lending is transforming the banking system. Lending Club recently announced that two of the nation’s community banks, Titan Bank and Congressional Bank, are starting to buy loans through the Lending Club platform. Titan Bank will also offer personal loans to their banking customers through the Lending Club platform.

Lending Club brings a low cost operating model to consumer lending. Banks, on the other hand, have a low cost of funds and deep roots in local communities. Our alliance with Lending Club truly combines the best of both worlds to bring down the cost of credit for our customers. This is the future of bank lending – Titan Bank Director Jonathan Morris.

So rather than competing with Lending Club they have decided to join the party. The transformation of the banking system has begun.

Challenge to keep their companies competitive

Many business leaders face a challenge to keep their companies competitive amid constant turbulence and disruption. What is next? How to disrupt your industry? Top 5+ disruptive change questions.

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About The Author

Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement, development and change management. International experience from management positions in Denmark, Germany and Switzerland.

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