https://www.cnbc.com/2018/11/01/fintech-banks-face-extinction-phase-amid-new-financial-technology.htmlRapid changes in financial technology, or fintech, are shaking up the global banking industry.
Banks must adopt new technologies to survive an ongoing extinction phase wrought by such tech, according to Stephen Bird, Citis global consumer banking CEO.
While new technologies cannot be ignored, bankers say the primary aim is to use them to provide the best service to customers.
Hard figures on how much the new wave of technology has disrupted retail banking are hard to come by, but analysts have stressed that the challenge is real.
Do you think the tech here includes blockchain and crypto?
Sooner or later they will use and include it on their list as the technology cannot be ignored just like what they said and if they do ignore it they will left behind just like what the company of NOKIA did. They tend to create so much FUDs but it won't be enough because they can't fool all the people.
Blockchains and banks should collaborate to each other for a better and cheap services for the people.