Fintech companies are an odd mix of 'boomers' that tend to have the financial knowledge, and 'millennials' that bring the technological expertise. The success of such a company, however, seems to depend on how the two mix.

As identities increasingly move online, the 'bank account' will eventually become a place where virtual money is kept in a digital 'bucket' with access allowed to trusted parties. 

Layers of resistance, from hard-to-update legacy systems to hard-to-break user habits, make the timeline for seeing a new technological innovation hit the mainstream surprisingly long. 

Will banking be disrupted by digitalisation to the extent that music and entertainment have? Not quite, thanks to the tight regulation those operating within financial markets have to adhere to.

Banks worrying about new market entrants would do well to remember how slowly capital moves.

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

Too often, established banks have approached their digital operations as mere extensions of their existing models. However, with those that have launched a new digital bank - complete with its own budget and management team - are showing how it should be done.

The old-style banking business model, run across numerous jurisdictions and business lines, is being eaten up by regulatory impositions and newer models that take a narrower focus.