Market Saturation

Updated: Jan 6

There certainly is a buzz to starting up a company, otherwise there would not be so many people doing it.

[Graduates] have the background, the education, an abundance of available capital and an ecosystem that is allowing them to do almost anything — but is another fintech app really what we need?”
Fredrik Jung Abbou, Serial Startup Founder”

Welcome to your blog post. Everyone's story is different, whether they do it for the challenge, the ride, the money, or the excitement. One thing we must never lose sight of is the value we are creating for our customers, and from one serial founder it appears that market saturation is a real concern. Take for example the three leading e-banks Monzo, Starling, Revolut: read the comparison and gauge for yourself how many more new e-banks there is space for.

In the news last week:

The physical world still has a role to play in our digital future. Yubico now produces a USB key that serves as an identifier to your online accounts, which on the face of it seems a good idea, but actually it is a re-hash of old technology for a specific purpose. This has got us at C-Innovation thinking that perhaps history really does repeat itself more often than we realise.

Some of you dinosaurs might remember the Nintendo Gameboy which despite, or maybe thanks to, its technological inferiority, was literally a game-changer when it came out in 1989. Old technology has the advantage that it is stable, well known, easy to fix, and therefore less of a risk, which is something that many companies around the world appreciate, especially where lives and livelihoods are at risk. Just ask the major about the AK-47 if you are in doubt.

The move to exclusively internet banking and electronic business is accompanied by increased fraud, if credit card payments are anything to go by.

This is despite the introduction of CVV codes and other customer-not-present protocols. For bank accounts there is tokenisation via keypads and mobile phones, which have helped to some extent, making us think that Yubico is onto something. Physical presence needs to be checked.

Paper is one thing that has all but disappeared from our lives. Once upon a time we received letters for anything and everything, and this was of particular concern where financial information was concerned. Just imagine how easy it was for criminals to find out your sensitive information and with it organise a social engineering attack. We have talked with people who have personally gone through this, had their assets stolen from their bank, and we were left with a very uneasy feeling. We won't say it loudly, but with the focus now on digital theft, maybe paper has a new, smarter, place in today's digital age?

Find out more about what we do, and read our newsletters and insights.