Fintech Continues to Threaten Traditional Banks

Fintech Continues to Threaten Traditional Banks

Cryptocurrencies are just one part of a general trend where tech-related financial services may displace traditional banks. And blockchain technologies may accelerate the process. The banking sector could be "eviscerated" by fintech offering alternative services, reported Reuters , citing St. Louis Fed President James Bullard. “We need to speed up our consideration of the fintech issues and think harder about what is the regulatory environment that is going to be appropriate. I think we have been complacent so far,” said Bullard. Peer-to-peer lending, crowd funding and even AI-assisted advisory services are threatening the positions of banks. All of those […]