Established companies should not use an uncertain and shifting landscape as an excuse to delay or defer investment, Suncorp CFO Steve Johnston.

He says disruptors, start-ups and entrepreneurs thrive on regulatory, political and technological uncertainty, and incumbents should do the same.

In an article on digital disruption, Mr Johnston urges companies such as Suncorp to cultivate strategic innovation among employees, and to incubate ideas.

The rise of start-ups is giving large, established companies an opportunity to buy in technology and expertise. Putting customers and products together more efficiently will improve economic outcomes, and it does not matter how that is delivered.

Mr Johnston says incumbents can survive fintech disruption only if they establish customers as the most important stakeholder. Companies that build cost and revenue resilience will move from a threatened mindset to one of seeking opportunities.

Companies need a detailed understanding of their customers and needs, and must be attuned to customer preferences.

The business model is being challenged by fintechs and increased regulation, posing a huge challenge for Australia’s largest financial services companies, Mr Johnston says.

Established businesses have diverse customer bases, and not everyone wants to transact digitally. They must think of their customers who are more comfortable dealing with people, and factor these costs in, he says.