Does anyone really think banks aren't aware of the fintech challenge?

Banks are fully aware of the threats and challenges posed by fintech companies, it's keeping up with them that is the problem.

by Chris Skinner

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I find it interesting that so many bloggers on financial technology, or finch, deride banks for being slow, clueless or stupid. So many blogs talk about how banks don’t do this, don’t do that; fail at this, fail at that; have no idea, cannot change; are stuck in the past or have their heads in the ground like an ostrich.

Come on guys. Do any of you, or us, really believe this? Does anyone seriously believe that the day someone joins a bank, they have their brain removed? Does anyone believe that you can rise to the senior management of a bank and have no clue? Does anyone seriously think that a bank CEO has no idea?

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