Who will kill Citibank?

"In 2009, a group of 30 engineers destroyed the profitable SMS telecom business on a global level. Overnight, we stopped sending 5, 10 or 15 tests a day, to send 30, 50 or 100 instantaneous WhatsApp messages.

Companies like AT&T, Telefónica, Vodafone and NTT were not able to develop a similar messaging system which ended up transforming the way we communicate worldwide.

Banks are definitely going to need to adapt to the new rules of the game. Rules similar to those that telecommunication companies have faced since 2009: the WhatsApp era for financial services."

Vicente Quesada professor at EGADE Business School

Sábado 23 de marzo de 2019

UNED - Cc. Económicas

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