Fintech companies have long been portrayed as the small and nimble vanguard that would conquer the dominant legion of banks, insurers, and wealth managers. Many reports have highlighted upstart tech startups challenging major financial service firms with functions like direct creditor-borrower matching, novel payment networks, and algorithm-driven portfolio management.
However, veteran firms of the financial industry can still end up winning the war, says a recent commentary titled Can Financial Services Weather the Silicon Valley Storm?,published on the Odlum Brown website.
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Source: Wealth Professional