Will Banks & Fintechs Collaborate to Re-Engineer the Industry?

[ChiefTime]

'Fintech 2.0' is supposed to deliver fundamental changes to the infrastructure and processes at the core of the financial services industry.

Experts say, in order to move forward to the next phase of evolution, banks need to invite fintechs to work within their industry, even inside their own businesses.

Do you think banks will ever go for it?

[BillyBobZorton]

'Fintech 2.0' is supposed to deliver fundamental changes to the infrastructure and processes at the core of the financial services industry.

Experts say, in order to move forward to the next phase of evolution, banks need to invite fintechs to work within their industry, even inside their own businesses.

Do you think banks will ever go for it?

I think the paradigm shit has started already and banking infrastructures as we know it will never be the same post Bitcoin. What im not so sure about it is if they will specifically support the Bitcoin blockchain, or come up with some shitty alternative just to not directly deal with a fair system like Bitcoin is.

[boopy265420]

I do think so that banks will need to go for blockchain tech to integrate their current system in this revolutionary technology.Fintech already has done enough workout and gained lot of experience on blockchain tech related issues and they understand it better than bankers.The earlier banks will go to shake the hands with Fintech the better will be for them.

[Hollingsworth]

Ripple protocol is already being trial tested by 30 banks around the world, as well as with Earthport and Western Union. Ripple wants to be the API of digital currency.

Blythe Masters, former Head of commodities at JP Morgan, has given insightful lectures on the need for blockchain / distributed ledger technology to merge with banks. 

It's on its way.