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This article originally appeared in RetailDive (Written by Daphne Howland) on April 2, 2018

Like healthcare, consumer banking is out of step with consumer expectations, and younger people especially, who are minimally banked but are beginning to make and spend their own money, are quite likely to go where products and services are superior to what’s currently on offer.

It’s a space ripe for disruption, and Walmart in particular is well positioned to enter the market and capture the attention of many consumers, and not just younger ones, according to Eddie Yoon, founder of Eddie Would Grow, a think tank and growth strategy​ advisory firm. “They have to stay on top of the e-commerce bit, but they have to pick a fight where they can actually win,” he told Retail Dive in an interview, saying that the banking sector requires the kind of technical expertise and cultural mindset that Walmart has, and that those are better suited to the retail giant than its increasing tie-ups with Silicon Valley-oriented efforts.

 

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