Speaking at the Financial Services Expo, MAB chief executive Peter Brodnicki said there was a distinct technological advantage to coming to market later.
“Look at someone like Atom Bank, who are seen as a revolutionary new digital lender and a fantastic lender, and look at all the planning and time it takes to come to market, to do what they are able to do now,” he said.
“Compared to lenders we are talking to today looking to come to market next year, those lenders are already way ahead of where Atom is. They can start at a later and more advanced point where things are done quicker and more ruthlessly in many cases.
“It just shows you, a month is like a year at the moment and timing of coming in is absolutely crucial. It does give people an advantage, even though the willingness and ability is there from everybody, it’s just when you can do it and how quickly you can respond,” he added.
