October 26, 2017
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Submitted by Michelle Young at Toptal
Authored by Alex Graham, Finance Expert for Toptal
Edited by Lynn Patra
Fintech 1.0 needs fintech 2.0 to arrive.
How have banks reacted to fintech?
There are four areas in which the financial industry can focus to improve their response to fintech.
What will the bank of the future be?
Banks Can Play the Fintech Game Too
Fintech, shortened from financial technology, is assumed to be a modern movement. Yet the use of technology to assist financial services is by no means a new phenomenon. Financial services is an industry that introduced credit cards in the 1950s, internet banking in the 1990s and, since the turn of the millennium, contactless payment technology. Yet, fintech’s place in the public conscience has really taken off in the past three years:
The takeoff of this term has come from startups—actors not within the inner circle of financial services, taking a more prominent role within the ecosystem. Three core trends have led to this movement emerging: Read more of this post