A Q&A with Liz High, EVP — Nymbus Labs
What are the core components of a niche?
It’s critical for a niche bank to have two major components.
Space for growth exists between traditional and challenger banking models.
There are many ways to structure digital bank capabilities for growth while maintaining operational efficiency — a stand-alone innovation lab, a distinct digital line of business or integrating innovation into all new and existing operations.
But as banks compete to capture the 7.1 million unbanked U.S. households, it’s no surprise they’ve ranked business building as a top-three priority. In fact, a recent McKinsey survey found 65 percent of financial services saw revenue growth above that of their competitors as they extended their product offerings to engage new customers.
Niche is the new local