There was a decent amount of that going on in China in the 90s and early 2000s actually in the banking sector. You probably won't see much "new business" until you see companies in new large markets explode in size. As in you are unlikely to ever see "new business" in the US, because you'd need a new bank or something to somehow explode to the size of one of the big four and suddenly realize they need to get on board with what all the competition is doing in order to compete.

But it has happened at least a little within the past couple of decades, most notably with China but there have probably been other examples in Asia.