December 20188IN MY OPINIONIt's no secret that traditional banks and credit unions are on edge about the potential and cumulative impacts of disintermediation by new, and non-traditional providers of financial services and payment experiences. Fintech's, challenger banks, retail giants, mainstream technology providers, and even those who traditionally served the industry behind the scenes all have their eyes on their corner of payment related lines of business. Many of these new entrants not only benefit from lots of startup capital, but also by virtue of being a startup they are able to build their customer experiences from scratch on some of the newest technology platforms without the burden of technical debt. Incumbents however are more likely to be faced with the challenge of bolting on mobile-centric technology and customer-centric experiences to legacy systems, which were originally more likely to be designed around a business process rather than a mobile-centric customer experience.But should any and all disintermediation be viewed as pure threat with no upside or opportunity for traditional financial services providers? The short answer is--it's complicated. Disintermediation in Payments ­ All Threat to Financial Institutions, or Are There Hidden Upside Opportunities?By Christopher Danvers, VP, Payments & Digital Services, American Airlines Federal Credit Union
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