Applied Innovation Review Issue No. 1 June 2015
Authors: Ali Khayrallah, Nimish Radia, Jason Hickey, Jasvinder Singh, Vicky Xu

In this paper, we focus on the disruption facing retail banks in particular. Many other banks, including commercial, investment and central banks, also face disruption. However, the challenges to retail banks are particularly vivid and have a broad impact. Generally, when we use the term “bank,” we refer to traditional chartered retail banking institutions such as Wells Fargo and Bank of America. New competitors may eventually find it in their interest to form chartered banks, despite the regulatory burden; this is still a disruption between the new IT-oriented players and the traditional businesses.

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