FSB Is Confident Fintech Will Not Disrupt Traditional Finance Anytime Soon
Enthusiasts of financial innovation remain optimistic, though. Fintech is growing at an accelerated pace in some countries. Over the past few years, many people have wondered how Fintech will impact the economic ecosystem. Some people feel there will be a major shake-up, whereas most experts see things very differently. Similarly to blockchain technology, Fintech is subject to a lot of hype right now. Despite the lack of strict regulation, fintech startups are not expected to cause significant disruptions anytime soon. It is impossible to deny fintech startups are doing things very....
Related News
Fintech should not be ignored, and various subsectors of this industry are making waves. The fintech industry finds itself at a crossroads right now. Despite the number of financial institutions willing to work with startups increasing every quarter, there is still a large battle ahead. Shaking up the financial industry is a delicate balancing act. Although collaboration is the buzzword right now, the battle lines between banks and fintech startups have not faded by any means. Banks collaborating with fintech incumbents is a positive trend. Entrepreneurs can use all the guidance they can....
The former Group CEO of Barclays, Antony Jenkins, predicts a future within the next ten years wherein financial technology or fintech will substantially disrupt traditional banking systems and the banking industry as a whole. He is convinced banking installations and those employed in banking institutions will be reduced by at least 20% in the coming ten years, if not up to as much as 50%. Antony Jenkins, former CEO of one of Barclays, the UK's second biggest bank in assets after HSBC has predicted an "Uber-like" disruption from the Fintech sector to come crashing down on the current....
Bundesbank President Jens Weidmann has expressed that FinTech requires more regulatory oversight because of its potential to threaten financial stability and the banking sector. In a Reuters report, Weidmann, who is part of the European Central Bank’s Governing Council, is reported as saying that a clearer picture is needed to understand better in what way FinTech could potentially pose a risk to the finance industry. He said: Many believe the most disruptive potential is to be found in blockchain or distributed ledger technology, which promises to allow payment transactions and securities....
FinTech Australia, the country’s national financial technology association, has appointed Danielle Szetho as CEO. This is exciting news for blockchain enthusiasts. FinTech and blockchain technology adoption seem to go hand-in-hand. The distributed and decentralized ledger is often seen as a valuable ally for the future of financial technology. FinTech....
Innovate Finance, the association of fintech and blockchain companies in London, UK to set up fintech hubs in Bahrain and the UAE. London had gained a reputation for being the financial hub of Europe. The capital of United Kingdom has been in the forefront of Fintech innovation, thanks to various initiatives in the past. But with Brexit, things are slowly falling apart. By moving away from the European Union, London has lost the charm of being the gateway to Europe for many companies. As the country becomes less attractive each day, other European nations are trying to replace it as the....