Fintech Could Flop Without Big Banks

Two sides to the fintech coin. On one hand, nimble startups are eating the entrenched players’ lunches in handheld-mobile retail fintech. On the other hand, the big firms hold all the money and legacy systems that still drive it all.

The access points for consumers are still clearly in need of evolution with a fresh perspective, but the underlying stuff is still fundamental.

…an amazing product is not what the clients want. The clients want access to the banks’ network of customers, or to the banks’ corporate clients and new issues, or just to the banks’ money.

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