These article is about the relationship between traditional banks and Fintech. The article argues that some Fintech companies, have not been able to fully disrupt banking products, but that future companies could use improved technology to give customer better data and more differentiated services.
I agree with the article that Fintech companies have not been fully successful at replacing banks, and that it will not be easy, for a few reasons. First, despite the many customer complaints that banks get, banks still have a reputation for being, “the safe choice,” when it comes to handling people’s money. I also agree that some of the Fintech companies have not made it clear enough why their services are both better and safer than using a similar banking service. Finally, the banking industry has a lot of regulations that Fintech companies may not be able to deal with.
In my opinion, some keys for Fintech companies to disrupt regular banks are providing more accurate data, providing banking services with fewer fees or limits and greater convenience, and the companies have to somehow change the perception of safety and strength that banks have.
“Why Fintech Has Failed to Supplant Big Banks – So Far”
https://www.entrepreneur.com/article/286633