Banks, Mobile Technologies and SMAC, Part 3
This article is Part 3 in a series on Banks, Mobile Technologies and SMAC . Click here to read Part 1 and Part 2 . In this article my colleague Peter Abatan, a Mobile Technology Consultant and banking expert with Cognizant, shares his insights into the digital transformation happening in the banking industry. This transformation reflects new and innovative business models, the rapid adoption of mobile apps for banking, social media and other cloud based solutions. In this article Peter and I discuss P2P (peer-to-peer) lending services and their potential integration with Internet based and mobile banks. P2P lending sites are part of the emerging digital transformation happening in the banking industry. Their purpose is to provide higher returns for investors/savers, while using SMAC (social, mobile, analytics and cloud) based technologies to help find lenders for people/companies that may not meet a traditional bank’s criteria for lending. They are a in effect, match makers.