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Interesting. But on the 3rd point, I have seen companies invest millions on getting the GUIs designed, analysed and built with best customer experience but all that effort goes in vain when the security and process compliance experts start shouting.  Then the real struggle starts, reconsidering the customer journey, building a mini-vault with many authentication layers. At that point, they kill the usability!!Then the whole focus shifts from customer-centric to security-centric model where registration/apply, login process requires many credentials and authentications. That’s when you get the Security, PCI, etc. go ahead. By that time, you have simply killed the customer enthusiasm, unless you spend another half a million sending SMS, Calling them  or emailing them, requesting to use the Mobile app.

I always think, if Telecommunication industry was risk averse as much as the Financial sector, we would still be using fixed phones with operators helping to connect the calls.