FinTech v. traditional banking: It’s not a zero-sum game

By David Blumberg

The financial services sector is bracing itself for an unprecedented period of disruption. Innovations such as smartphones, big data analytics, and the blockchain technology that underpins Bitcoin, are forcing banks, insurers, and Wall Street firms to adapt to an unpredictable future where some of the old rules no longer apply. We’ve seen this before – just look what happened with Blockbuster vs. Netflix, record stores vs. digital music, or even Yellow Pages vs. Google. But unlike those examples, a banking sector shakeup will not be a zero-sum game.

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