Why incumbents and challengers are learning from each other across data, AI and partnerships: Report

The divide between legacy financial institutions and digital challengers has long shaped conversations around growth in the financial services sector. One side brings scale, trust and regulatory credibility. The other brings speed, experimentation and technology-led innovation.The Modern Marketing Reckoner 2026, titled The Incumbent–Insurgent Growth Playbook, suggests that this divide is narrowing. Instead of competing as opposing models, incumbents and challengers are increasingly adopting elements from each other to stay relevant in a changing marketplace.Darshana Shah, CMO at ABCL, describes the premise behind the framework. “The premise of the Incumbent–Insurgent Growth Playbook is that neither model is complete. We believe this deeply and we have tried to build it into ABCL’s operating culture.”The report highlights how both sides are borrowing from the other’s strengths as consumer expectations evolve.Also read: New Categories, health bets and acquisitions: Britannia expands its