Can banks play the fintech game?

Can banks play the fintech game?

Banks, having recognised the need for the integration between finance and technology, have had to re-assess their digital strategies and collaboration with third-party service providers to stay relevant. Financial institutions have well recognised the need for the integration between finance and technology, and have entered the arena in a big way.. Dubai based neobank Xpence - focused on micro and small businesses (MSB) and startups - is a mobile-first business banking alternative designed for entrepreneurs by entrepreneurs.. "We built ila on the premise of offering all services on digital channels to offer a new customer experience, promote financial inclusion and a cashless society.. "There are a lot of processes between banks such as for foreign exchange or wholesale payments where they are looking at how a blockchain network can be an improvement over some of the older infrastructure that exists for payment messaging.. Financial institutions need to look at their internal processes to find valuable use cases where there is a need for trust and where an irrefutable single source of the truth would be preferable to multiple versions.. Referring to banks as just an avenue for financial services access, King opined that financial institutions that rely solely on branches