Banks face "Kodak moment" as fintech disruption builds

Banks face “Kodak moment” as fintech disruption builds

LONDON, Nov 14 (IFR) – Banks are facing seismic changes from the impact of new technology that is likely to see many collapse – akin to the near-death of Kodak from its failure to move with the times, a former boss of Barclays has warned. ”Banks are structurally uneconomic in their current format,“ said Antony Jenkins, the former chief executive of Barclays. ”The only solution for banks is to massively automate themselves so they can succeed in this new world. “But the problem with large financial institutions is they are like museums of technology,” Jenkins said, referring to the […]

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