The spark comes in a variety of shapes and sizes. Financial institutions are exploring various types of strategies from joining existing programmes to leading them or shaping their own ventures. Barclays, Deutsche Bank, Citi and RBS are among those aiming to attract fintech disrupters to their innovation centres. Such approach has yielded positive results such as deals between Barclays and Market IQ, a technology that uses social media data to predict events such as ATM power cuts, and Dopay, a cloud-based payroll solution for the unbanked.
Fintech industry, projected to grow to $8 billion in 2018, looks to use cutting-edge technology as entry point to financial systems.
For more on this story visit the following link: Fintech innovation: staying on the fringes or is it time for it to became core?
Source: Banking Technology