Professor Pinar Ozcan.

Prof Pinar Ozcan: How the big four technology giants could disrupt Irish banking

Professor Pinar Ozcan is an Oxford University expert on innovation and fintech. She sets out why the banks are vulnerable to disruption by fintech, why the fintechs have struggled to capitalise, and why there's an opportunity for a new type of company to step in and dominate the industry.

9th Jul, 2020 - 8 min read

The established banks and the fintechs are eyeing each other up. Each side has what the other side wants. 

The banks want the fintechs’ technology. Their IT is old and not fit for purpose. Their IT makes for fiddly apps, and makes it hard for the banks to make money from their users. Ancient IT is a big part of why banks can’t turn an economic profit. And it’s a big part of why their customers are flocking to slick fintechs like Revolut — which has mushroomed to more than one million users in Ireland.

If the fintechs have the best technology, and are adding lots of customers, are the banks doomed? Not necessarily, says Oxford...

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