Consulting firm McKinsey has warned banks that FinTech start-ups are a threat to traditional banking’s profits, giving them a choice: fight them or join them, according to a recent report from CityA.M. “London’s fintech hubs are booming, with over 12,000 start-ups disrupting financial services with products that are often cheaper for customers. This poses a […]
A new report from consultants, Accenture, shows explosive growth in the financial technology (FinTech) sector. Accenture believes that a “digital revolution in financial services is under way”. Money&Co., as a peer-to-peer business lender in the crowdfunding sector, is right at the heart of this movement. Fintech Innovation Lab London carries the report: “Investment in financial-technology (fintech) […]
Today, we bring you a trenchant piece on the future of finance from commentator, Philippe Gelis, writing in Chris Skinner’s Financial Services Club Blog. Those traditional banks that haven’t woken up to the ongoing revolution really should sit up and pay attention. “The financial industry is one of the last large industries that have not […]