Banks May Face Kodak-Style Obsolescence in 5 Years, Jenkins Says
Antony Jenkins, founder and executive chair at 10X Future Technologies, warns that banks face disruption that could cause a 'Kodak moment' that renders them obsolete within the next 5-15 years. He speaks with Bloomberg's Francine Lacqua on 'Bloomberg Surveillance.' (Source: Bloomberg)
This article is for subscribers only.
Banks could face a “Kodak moment” where they approach obsolescence in five to 15 years at the hands of new financial-technology companies, according to former Barclays Plc Chief Executive Officer Antony Jenkins.
Traditional banks are already seeing the start of an “Uber moment,” whereby the industry is being transformed by technology such as smartphones and contactless cards, Jenkins said in an interview with Bloomberg Television on Wednesday.