Page 267 - SBL Integrated Workbook STUDENT 2018

Using IT successfully

3.2 Defences against disruptive technology

 Differentiating – to remove the attractiveness of the lower cost disruptors

 Improving flexibility – so that products can be more personalised

 Promoting a physical presence – and the convenience and the service that this
might offer

 Take legal action – for example, by aiming to create a barrier to entry

 Relying on technophobia – though this is becoming less prevalent

 Reacting sooner – therefore preventing disruptors from gaining a strong
foothold in the industry

 Launching own Fintech divisions or acquiring growing Fintech businesses.

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