New technology roles in banks have increased by 46 per cent in the past three years – making traditional banks the most prominent recruiter in that field. A third of overall job vacancies currently within banks is now tech related – jumping from less than a quarter (23%) just…...
Is There a Fight Brewing Between Fintech and Banks?
One of the nation’s largest banks has been taking heat from customers in recent months. No, it’s not about unanticipated fees or problems with security. Instead, the issue is the bank’s sudden decision to cutoff a popular fintech service. According to the Wall Street Journal, PNC bank customers find themselves…...
FINTECH VS TRADITIONAL BANKING
With customer demands and behaviours evolving quickly in light of Covid-19, Will Hurst, Head of Commercial Development at Monevo, looks at whether traditional banks are failing to keep up with their expectations and what key trends and changes have opened the door to the rise of fintechs. The financial services competitive landscape…...
Five Effects of COVID-19 on the Fintech Industry
While on one hand the Covid-19 outbreak has blurred lines between banks and fintechs and accelerated digital adoption, it has led to decline in number of alternate lenders. Financial technology (fintech) sector has been developing fast in Asia in the last few years. But, like most other sectors, it has…...
Let’s get together: The future of the working relationship between banks and fintechs
Our world today is entirely unlike the fantasy world of Harry Potter, where a goblin-controlled cart takes you through miles of tunnels under the City of London to your personal vault. No, we’re in a far more complex place now. The banking system is now based around services and digital…...
The future of fintech is networked, not hierarchical. How coronavirus will usher in a new digital age, and what you can do to prepare for it.
Old, hierarchical institutions have shown they lack resilience to coronavirus. Their large properties, huge ivory towers designed to be both imposing and reflect their status, are dragging them down. They struggled to adapt to a digital world, let alone digital 2.0, or the coming digital 3.0. The future is one…...
Different models certainly, but fintechs and traditional banks need each other
The UK fintech is rightfully regarded with envy as the zenith of technical innovation in the sector worldwide. Aided in no small way by a sympathetic regulatory environment that no longer eyes fintech with suspicion, rather as a necessary evolution. Banks, quite sensibly, now seek to foster innovation by supporting…...
The Importance of a Digital Financial Ecosystem in 2020
When previously it was frowned upon to be addicted to your smartphone and encouraged to have a sense of balance with technology, now having full access to the world in the palm of your hand is a must, Digital Financial given ongoing stay-at-home orders that limit human contact and increase reliance…...
Banks and fintechs need each other more than ever
The coronavirus pandemic has greatly strained financial services providers and even fintechs, despite their digital prowess, have not been immune to the economic downturn. With the exception of some of the largest providers, the vast majority of fintechs don’t have the benefit of mature customer bases to help weather the…...
Bank Of The Future: How Banks And Fintechs Are This Decade’s Unlikely Duo
Rewind the clock (to say 35 years ago from today) and cinemas were opening for the first time to the iconic time-traveling antics of Back to the Future. Looking at Doc and Marty and knowing their contrasting personalities – one an eccentric inventor and one a streetwise kid – you wouldn’t think their…...
