To attack the incumbents, Shopwave will process payments via all the existing incumbents (iZettle, Veriphone, FirstData etc).
In the words of Simon Barrow, of the religious think-tank Ekklesia, he is "a good lawyer who knows how to build bridges and tear down barriers".But be warned when St Theodore, an earlier envoy of the Global South, arrived in York, the initial result was mayhem: he divided the diocese into four, destroying the power base of its existing incumbent, St Wilfrid.
Using longitudinal data for a sample of 650 mobile phone consumers and a split-population hazard model that accounts for the notion that some customers are never at risk of defection, the authors show that both the focal firm's (incumbent) and the competitors' price and mass advertising exert a significant influence on the probability of terminating an existing incumbent relationship.
That also makes it a potential partner to existing incumbent banks, as the recent Series A backing from Santander Ventures points to.
Those two, incidentally, are also probably the two biggest challenges for Nutmeg to take off: existing, incumbent investing options (including those focusing on people investing smaller funds like selftrade.co.uk) for those who are already doing this; and intransigence among those who don't.
"Had there been an already existing, incumbent mayor, that might not have been the case.
Finally, of all these challenges, only distribution remains the biggest hurdle to existing incumbents and new entrants in the space to be able to create a competitive advantage to win.
For decades, the region worked in greenfield territory – spaces where existing incumbents were only other technology companies or simply did not exist.
Existing incumbents like Blackboard have forums features, but the community is often moribund.
For startups aimed at disrupting existing incumbents in industries that are heavily regulated, the negative impact on fundraising will be even greater.
